Big banks set for bumper annual profits as interest rates peak February 12, 2024 Britain's biggest banks are set to report strong annual profits over the next two weeks despite mounting margin pressure from a likely peak in interest rates.
UK car production grows for third consecutive month but still below pre-Covid August 25, 2022 UK automotive production grew in July by 8.6 per cent, marking the third consecutive month of growth, according to figures published today by the Society of Motor Manufacturers and Traders (SMMT). Factories produced 4,605 additional vehicles – a signal that component shortages might begin to ease – while output for the UK market surged 40.7 [...]
Wizz Air CFO steps down as airliner pursues post-lockdown expansion August 22, 2022 Wizz Air’s chief financial officer has stepped down, as the European airline pursues a pandemic turnaround following a recent loss of €285m. Jourik Hooghe has decided to exit the role to seek “opportunities outside of the company” according to a statement today. However, he will be available during until the end of December during the [...]
Motoring? Car industry defies Brexit warnings with EU export surge May 25, 2023 UK car production saw its third successive month of growth in April, as easing supply chain shortages and strong exports drove growth. Car production ramped up 9.9 per cent to 66,527, 5,973 more than in April last year at the heights of the global semiconductor shortage. The SMMT said that the rise in production was [...]
Why December’s inflation surprise is not a moment to panic January 17, 2024 How worrying are December's inflation figures for the Bank of England? And what does it mean for when interest rates will start being cut?
London firms dust off ‘defence manuals’ ahead of private equity offensive January 16, 2024 London’s listed firms have been dusting off “defence manuals” and conducting “dry-runs” in recent months as they prepare to fend off unwanted approaches from private equity houses, insiders have told City A.M..
Square Mile and Me: Stuart Bedford on dealmakers, desert challenges and Villa Park May 18, 2023 Each week we ask the great and good of London’s finance world to take a trip down memory lane. This week, it’s Stuart Bedford, Head of Law at KPMG What was your first job? It was running a stock room at a wallpaper warehouse What was your first job in financial services? This was when I started out [...]
Bank of England must keep raising rates to finally kill off inflation, City experts say July 20, 2023 The Bank of England should not yet let up on raising interest rates to ensure inflation has finally been defeated. That’s the verdict of City economists despite the Office for National Statistics today revealing the cost of living fell faster than expected to 7.9 per cent in June, down from 8.7 per cent in May. [...]
Pandemic spending habits settle to ‘new normal’ after online shopping boom March 8, 2022 Pandemic spending habits have “settled into a new normal” with people returning to bricks and mortar stores to ‘try before you buy’ last month. Total retail sales were up 4.9 per cent in February, compared to the same month in 2020, according to the British Retail Consortium (BRC) and KPMG retail sales monitor. Sales continued [...]
GSK to inject £1bn into new vaccines, as demerger leaves it with ‘less distractions’ June 23, 2022 GSK has announced it will inject £1bn into the research and development of infectious diseases over the next decade, just weeks after a major demerger. The British pharmaceutical giant will focus on diseases that disproportionately impact lower-income countries, in a move predicted by analysts since GSK split from its consumer healthcare division, now a separate [...]