UK borrowing costs drop as Kwarteng hints at mini budget U-turn October 13, 2022 UK borrowing costs collapsed today driven by chancellor Kwasi Kwarteng sending the strongest signal yet he will roll back elements of last month’s mini budget. Rates on UK gilts dropped across the curve after they yesterday climbed to their highest level since the day the Bank was forced to step in. Yields on the 30-year [...]
Trade war fears grow as Boris Johnson issues final Brexit warning to EU: If Brussels does not give in Britain ‘will act’ May 16, 2022 As Boris Johnson prepares for a visit to Northern Ireland later today, the Prime Minister has warned the EU the UK will have a “necessity to act” if the Brussels is unwilling to reach a compromise in the deepening crisis over the Northern Ireland Protocol. The Prime Minister – who travels to Belfast today for [...]
The City View: More Spring Statement analysis, and The Macallan’s Master Whisky Maker distills her craft March 24, 2022 Today Andy Silvester chats to Economics and Markets reporter Jack Barnett — they look back on yesterday’s Spring Statement; go through dire IFS figures; and discuss lack of growth in the UK economy. Andy also takes us through the business news: P&O are in even more hot water; and the CEO of convenience store operator [...]
London’s top indexes jump as Bank of England hikes rates again March 17, 2022 London’s top indexes jumped yesterday after the Bank of England lifted interest rates for the third meeting in a row. The capital’s premier FTSE 100 index climbed 1.28 per cent higher to 7,385.34 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, rose 0.34 per cent [...]
Starmer calls on PM to sanction ‘every Russian oligarch’ with UK assets March 2, 2022 Sir Keir Starmer has called on Boris Johnson to sanction “every oligarch and crack open every shell company” to shut out dirty Russian money from the UK. The Labour leader said Chelsea owner Roman Abramovich should in particular be targeted immediately, along with former Russian deputy PM Igor Shuvalov who has properties worth more than [...]
Oil markets rebound after IEA warns of supply shortages March 17, 2022 Oil prices have soared nearly seven per cent, following IEA warnings of supply shortages this year with Russian oil increasingly cut off
Gold under pressure amid interest rate hike concerns January 31, 2022 Gold prices chalked up its biggest weekly loss last week since September, with the Federal Reserve finally set to hike interest rates.
OPEC warns of global supply shock if EU sanctions Russian oil April 12, 2022 OPEC has warned the European Union sanctions on Russian fossil fuels could create one of the worst global oil supply shocks in history.
Interventions have merit, but government mustn’t get hooked on meddling March 28, 2022 The drumbeat towards another Sunakian save-the-day package has begun, it seems. It is barely weeks since the Chancellor’s first energy market intervention, a devillishly complicated scheme of rebates and discounts to reduce the pain of higher energy prices. Russia’s invasion of Ukraine has now added further upward pressure on those same costs, and it is [...]
Ukraine: UK bans all Russian oil imports from end of 2022 March 8, 2022 The UK will ban all imports of Russian oil and oil products from the end of this year in response to the invasion of Ukraine, business secretary Kwasi Kwarteng has announced. Kwarteng said the government would provide support to businesses in managing the transition, while also saying that he is “exploring options” in regards to [...]