FCA reveals major consumer regulation shake-up but delays deadlines after industry protest July 27, 2022 The UK’s top financial watchdog has revealed its plans to tighten protections for consumers today in the biggest package of regulatory reforms to hit the City in a decade.
Watch Rishi Sunak’s Brexit message as he is ridiculed on social over ‘worst campaign video ever created’ August 8, 2022 Rishi Sunak’s campaign is under fire this afternoon as the former chancellor is mocked online and accused of “pointless posturing” in a campaign video focused on shredding EU regulations which has been likened to a parody. The Tory leadership candidate vowed to use his first 100 days if elected prime minister to “review or repeal [...]
US Federal Reserve hikes rates for first time since 2018 as lift off begins March 16, 2022 The US Federal Reserve today hiked the world’s most important interest rate for the first time since 2018 in what is expected to be the first step in one of the fastest tightening cycles in recent history. Fed Chair Jerome Powell and the Federal Open Market Committee (FOMC) raised rates 25 basis points to between [...]
Russian invasion to nearly halve size of Ukraine economy April 11, 2022 Russia’s brutal invasion of Ukraine is set to deal the country a seismic economic shock alongside triggering a humanitarian crisis, reveals official forecasts published today. The Ukrainian economy will shrink to nearly half the size it was last year as a result of the Kremlin’s war, with GDP dropping just over 45 per cent, according [...]
Tax Spotlight: How the jump in national insurance will affect you and your household April 6, 2022 As Brits try to juggle surging living costs on a shrunken wage packet, experts have warned the pain of the rise in national insurance will be felt by people on their next payday, Here is a look at why the increase is happening and why “awful April” is seen as just the start of a [...]
Oil prices climb towards $100 as the West rolls out sanctions on Russia February 23, 2022 The escalating crisis on Ukraine’s eastern flank saw oil prices inch towards $100 a barrel for the first time in almost a decade yesterday.
Rampant inflation forces Brits to dip into Covid-19 savings February 1, 2022 Brits are unleashing the enormous stock of savings amassed over the course of the Covid-19 crisis to maintain spending amid soaring inflation, reveal fresh official figures released today. Households are turning to drawing down savings due to the intensifying cost of living crunch stretching their budgets. The combined £3.2bn jump in households savings over the [...]
Supply chain crisis threatens to plunge record number of firms into the red January 24, 2022 The global supply chain crisis is threatening to plunge a record number of companies into the red, reveals a closely watched study released today. Nearly half of the 70 listed companies that issued profit warnings in the final three months of last year blamed their poor performance on the supply chain crisis, according to research [...]
UK borrowing costs tumble after Hunt shreds Truss’s mini budget October 17, 2022 UK borrowing costs scaled lower today after new chancellor Jeremy Hunt ripped up prime minister Liz Truss’s tax cutting mini budget. The yield on the 30-year UK gilt, which has suffered heavy selling since the mini budget last month, fell around 40 basis points to 4.33 per cent. Rates on the 2-year and 10-year UK [...]
City exclusive: Brits leave Europeans trailing in digital banking September 18, 2022 Brits are significantly ahead of other Europeans in their embrace of digital forms of banking. New research, shared exclusively with City A.M. this morning, shows that people in the UK are nearly twice as likely as other Europeans to prefer applying for financial products and services online via website or app, including through online chat [...]