Over-50s considering returning to work due to concerns about retirement funds December 6, 2022 The overwhelming majority of over-50s are not financially set for retirement due to the pandemic and cost of living crisis. Just under two-fifths of those aged 50-54 are happy their retirement funds are sufficient, rising to 55 per cent for those 60-65. The worrying trend, highlighted in research from Handelsbanken Wealth & Asset Management, shows [...]
Buy-to-let landlords in shock as mortgages skyrocket by record 286 per cent December 6, 2022 Buy-to-let landlords are facing a tougher time securing finance due to a significant reduction in product choice and rising mortgage rates, it has emerged. The debate around rising mortgage rates has so far been centred around the strife facing homeowners and families, but it’s also had an impact on buy-to-let landlords, to the detriment of [...]
Federal Reserve could scale back interest rate hikes from December November 30, 2022 The Federal Reserve could scale back the pace of its interest rate hikes "as soon as December," revealed Fed Chair Jerome Powell.
Brits sit pat on Covid-19 savings mountain in sign of tougher recession November 29, 2022 Brits are sitting pat on the mountain savings they built up over the course of the Covid-19 crisis during lockdowns, official figures out today reveal. Households set aside £6.4bn in savings last month, £1.6bn higher than the average monthly deposit flow before the pandemic, according to the Bank of England. The figures illustrate consumers are [...]
Open banking should be a blueprint to create more competition across sectors November 29, 2022 When Transport for London opened up their data, it enabled the creation of Citymapper.
Investors hope for US jobs market slowdown to appease Federal Reserve November 27, 2022 Signs of a further slowdown in the US jobs market convincing the Federal Reserve to slow its interest rate hike cycle will top investors’ wish list this week. London’s FTSE 100 index notched a decent showing last week, climbing 1.37 per cent to close at 7,486.67 points, while the domestically-focused mid-cap FTSE 250 index rose [...]
Hunt targets highest earners in tax grab as chancellor raises £55bn November 17, 2022 The UK’s highest earners have been targeted as a part of Jeremy Hunt’s tax grab, with the top 45p threshold of Income Tax slashed. The top tax bracket has been reduced from £150,000 to £125,140, while he has also frozen the Income Tax thresholds for the two lower brackets in a stealth hike. Hunt announced [...]
As it happened and live reaction: Jeremy Hunt’s Autumn Budget 2022: UK is now in recession November 17, 2022 Welcome to City A.M.’s live updates as the Chancellor of the Exchequer, Jeremy Hunt, delivers the government’s Autumn Budget for 2022. Here the news team will bring you all the key points, policy changes, opinion, analysis, responses from experts, industry reaction and more. Get in touch and let us know your views via news@cityam.com or [...]
The taxman cometh: Hunt to deliver toughest Budget in years today November 17, 2022 Jeremy Hunt will launch a vicious round of tax hikes and spending cuts today as he vows to “deliver strong public finances”. The chancellor tonight said “families across Britain make sacrifices every day to live within their means” and that “so too must governments” as he prepared to lay the ground for a second round [...]
Not a good Monday for home sellers as UK house prices dive by £4k+ in just one month November 14, 2022 The average price tag on a home fell by more than £4,000 in November compared with the previous month, according to new industry figures released this morning. Across Britain, the average price of a newly marketed home in November is £366,999, Rightmove said. The £4,159 drop in the average asking price compared with October equates [...]