UK banks no longer ‘too big to fail’ but sector still has room for improvement June 10, 2022 All of the UK’s top banks would survive a major financial shock, but some have shortcomings in ensuring they fund themselves through a crisis, the Bank of England said today. Britain’s eight biggest high street lenders would be able to fail safely without a repeat of bailouts seen during the financial crisis in 2008, according [...]
Safe as houses: as years pass by, residential property remains the most resilient investment January 6, 2023 When Her Majesty Queen Elizabeth II passed away last year, it brought the nation – and much of the world – together in mourning. With 70 years on the throne, Queen Elizabeth II replaced Queen Victoria as the United Kingdom’s longest reigning monarch. There was much that united the two, from overseeing periods of dramatic [...]
UK high street lenders whipsaw on muddled day of trading in the City April 27, 2022 The UK’s biggest high street lenders whipsawed in the City today after giving up morning gains that initially boosted London’s top indexes. The capital’s premier FTSE 100 index closed 0.53 per cent higher at 7,425.61 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dipped [...]
City rejects looming interest rate rise: ‘Old Lady should adopt Maradona theory’ October 14, 2021 Markets are increasingly betting that the Bank of England will raise interest rates before Christmas to contain spiralling inflation. The shift came after two of the Old Lady’s most senior officials gave the strongest signal yet that the central bank is ready to choke off inflation. Strengthening predictions over a looming rate hike triggered a [...]
First-time buyer price inflation nears 10 per cent as London house prices shoot past £500k November 6, 2021 First-time buyer annual house price inflation is now at a five-month high, at 9.2 per cent, and has pushed ahead of the equivalent measure for home movers, at 8.1 per cent, according to property experts. In London, the average house prices have shot passed £500k. The average UK house price hit a record high of [...]
Property deposits for first-time buyers swell over 50 per cent in last decade April 11, 2022 The average deposit for first-time buyers has rocketed more than 50 per cent over the last 10 years – even after adjusting for inflation, according to a new study. As homeownership falls further out of reach for first timers, those trying to get on the property ladder must have a deposit of more than £45,500, [...]
FTSE 100 today: London markets set for muted open amid sparse economic calendar July 9, 2024 Asian markets mirrored Wall Street's rise, with gold prices edging up. All eyes are on Federal Reserve Chair Jerome Powell's testimony.
Bank of England hikes interest rates for eleventh time in a row to post financial crisis high of 4.25 per cent March 23, 2023 The Bank of England today hiked interest rates for the eleventh time in a row to a post-financial crisis of 4.25 per cent as it continues to lead the fight against the worst UK inflation crisis in four decades. Governor Andrew Bailey and his team of rate setters bumped borrowing costs 25 basis points higher, [...]
Cladding bill nears £2bn mark as Bellway, Vistry and Countryside Partnership pledge to fix homes April 7, 2022 Housebuilders’ pledges to repairing unsafe cladding has neared a bill of £2bn as Bellway pledged £485m to fix homes on Thursday. According to analysis from AJ Bell, the total bill now stands at £1.8bn, with FTSE 100 developer Berkeley yet to declare how much it will provide. The department for levelling up, housing and communities [...]
Inflation jumps to 9.1 per cent: Worried City insiders respond to consumer prices climbing again June 22, 2022 The rate of inflation rose again in May, remaining at 40-year highs, the Office for National Statistics said this morning. The rate of Consumer Prices Index inflation rose slightly to 9.1 per cent in May from 9 per cent in April, according to the ONS. The increase matches what analysts had expected. “Though still at [...]