Bank of England cites huge financial stability risks from Brexit vote September 22, 2016 The Bank of England has issued a sobering analysis of the state of the UK's financial system in the wake of the EU referendum. Threadneedle Street's Financial Policy Committee (FPC), which is designed to look after the health of the UK's money markets and protect the financial system from bringing down the UK, cited a string [...]
Brexit fears overshadow latest Lloyd’s of London results September 22, 2016 Insurance behemoth Lloyd's of London has issued another stark warning over the fallout from the UK's vote to leave the EU as its underwriting profits slipped in the first six months of the year. Update: Lloyd's of London's chairman has told City PM it will announce whether it will relocate following the Brexit vote The [...]
UK car production hits 14-year high in August September 22, 2016 UK carmakers had their best summer for more than a decade, with production climbing on the back of strong demand for new vehicles both at home and overseas. Trade body the Society of Motors Manufacturers and Traders (SMMT) said 109,000 cars were completed in August, nine per cent higher than in 2015 and the highest figure [...]
The City is mobilising itself for Brexit talks to safeguard the future of the capital September 22, 2016 One of the more memorable lines from the referendum campaign came courtesy of Leave campaigner Michael Gove. In front of a live audience, Faisal Islam of Sky News reeled off a list of experts who had made dire economic predictions regarding the implications of a vote to Leave. “The IMF, the IFS, the CBI… why [...]
Should global stock markets expect a correction by the end of the year? September 22, 2016 Adrian Lowcock, investment director at Architas, says Yes. Markets have been stable for months and have been able to shrug off the surprise Brexit vote, weak economic growth and concerns over the Italian banking system. Investors seem to think that markets can handle anything, but they are far too sanguine. This is the perfect environment for [...]
There are plenty of lessons the German Chancellor can learn from yesterday’s men September 22, 2016 What is it about the rule of 10? Ten years at the top in European politics is more than enough. This month Angela Merkel celebrates her eleventh anniversary as Chancellor of Germany. She now has to decide whether to go on and on and seek another four years in the federal elections in September 2017. [...]
A divided Fed holds: US leaves interest rates unchanged as case for second rate hike in almost a decade strengthens September 21, 2016 The US Federal Reserve's rate-setting Federal Open Market Committee (FOMC) has voted to leave interest rates on hold but has set the scene for a hike before the end of 2016. The Fed raised its benchmark overnight interest rate to a range of 0.25 per cent to 0.50 per cent in December – the first rate hike [...]
Yen drops then pops on Bank of Japan announcement September 21, 2016 The Japanese yen has hits its strongest level since the end of August, just hours after the Bank of Japan announced an imaginative new approach to monetary policy. The yen initially fell to ¥102.74 against the dollar as the BoJ unveiled its latest package, before gradually strengthening throughout morning trading in London to stand at ¥100.86 against the [...]
Before the bell: What you need to know before the US market open September 21, 2016 Markets are already cheering the US Federal Reserve and Mylan's chief executive is set to answer questions on the latest drug pricing scandal. Here's what you need to know before the US open at 2:30pm. The US pre-market is climbing ahead of the open, betting the Fed will not move to hike interest rates when it [...]
Can we call it a comeback? Growth forecasts for UK economy upgraded for second consecutive month September 21, 2016 Economists are more confident about the UK's growth prospects than at any point since the EU referendum. Despite today's downgrade from the Organisation for Economic Cooperation and Development (OECD), investment banks and think tanks that produce regular updates on the UK economy have upgraded their outlook over the past month. According to a collection of [...]
