High Court: Dubai ruler ordered to pay record £554m in UK custody case December 21, 2021 Dubai's billionaire ruler Mohammed bin Rashid al-Maktoum has been ordered to pay £554m to his estranged and their two children.
Money in COVID Times: A perfect storm forming for central banks? December 21, 2021 | City Talk The COVID-19 crisis is but the latest episode in a drama docuseries on economics depicting a world in which unorthodox monetary policy is becoming the norm rather than the exception. How have central banks become the de facto lender and market maker of last resort in a financial market ecosystem in which market-based finance has [...]
UK government interest bill swells at fastest rate in over a decade December 21, 2021 Soaring inflation is swelling the government’s interest bill at the fastest rate in over a decade, reveal official figures published today. Interest payments on debt held by the government climbed over £15bn, or 54.1 per cent, over the last financial year to November, the fastest rate of acceleration since 2010, according to the Office for [...]
UK hits highest borrowing to GDP ratio since the 60s December 21, 2021 The UK borrowed a further £17.4bn in November, bringing the overall borrowing to GDP ratio to levels not seen since the 1960s. Net debt now sits at 2,317bn, around 96.1 per cent of GDP. While it is around £5bn less than November last year, the figure is also the second-highest November borrowing on record, the [...]
Omicron fears set in at British firms as UK economy hurtles toward contraction December 21, 2021 Omicron fears are embedding into British businesses in a sign that the UK economy is headed for a period of contraction, reveals a new study released today. Business confidence dropped to 32 per cent in early December, down from 40 per cent in just a matter of days from late November, according to Lloyds Bank. [...]
Oil prices collapse as Omicron sweeps across globe December 20, 2021 Oil prices slid today as traders dumped holdings on fears the rapid spread of Omicron will severely curb demand for the commodity. The world’s leading international benchmarks, WTI and Brent Crude, collapsed 5.14 per cent and 4.45 per cent respectively. Concern that major oil consuming countries are headed for tougher restrictions on economic activity to [...]
London markets tumble on imminent circuit breaker lockdown concerns December 20, 2021 London markets tumbled today on concerns fresh restrictions to curb the spread of Omicron are about to hit England. The capital’s premier FTSE 100 index slid 0.99 per cent, closing at 7,198.03 points, while the mid-cap FTSE 250 index, which is more aligned to the health of the UK economy, finished 1.01 per cent lower [...]
World Economic Forum kicked into long grass again over Omicron fears December 20, 2021 The annual summit of the world’s greatest economic minds in Davos, Switzerland has been kicked into the long grass again due to concerns over a surge in Omicron cases. The World Economic Forum (WEF), that brings together global political and economic leaders every year, was due to take place between 17 and 21 January. It [...]
Omicron uncertainty weighs on UK factories December 20, 2021 British factories are being hit by uncertainty over the potential negative impact the Omicron variant of coronavirus will have on the UK economy, reveals a new survey published today. Orders for manufacturers’ products jumped 24 per cent over the last month, but edged back from 26 per cent growth in November, according to the Confederation [...]
Exclusive: London rides wave of floats to snatch Europe listing crown December 20, 2021 London has ridden the crest of a wave of companies listing in the capital over the last year, reveals a fresh study shared exclusively with City PM today. The City muscled out its rivals on the continent to take the crown as Europe’s top listing hotspot, research by consultancy KPMG has found. The capital breezed [...]
