Crypto-friendly Rishi Sunak means a major boost for Bitcoin Britain October 27, 2022 Rishi Sunak has become the UK’s third prime minister in three months. The new Tory leader is an interesting one from a crypto point of view. As finance minister, Sunak famously ushered in the Financial Services and Markets Bill earlier this year, aiming to bring stablecoins into the UK payments system. He said at the [...]
FTSE 100 weighed down by banks and pound strengthens on Sunak’s second day in No 10 October 26, 2022 London’s FTSE 100 was dragged down today by investors ditching shares in the UK’s largest banks despite a strong set of results, but managed to squeeze gains thanks to a late rally. The capital’s premier index jumped 0.61 per cent to over the 7,000 mark points, while the domestically-focused mid-cap FTSE 250 index, which is [...]
UK banks return to amassing default reserves amid inflation and mortgage crunch October 26, 2022 Barclays said profits had jumped six per cent in the third quarter of the year as it became the latest lender to see performance buoyed by rising interest rates.
Pound climbing fast: UK assets buoyed by PM Sunak as Sterling hits highest level since mini-Budget October 26, 2022 Rishi Sunak’s appointment as PM has buoyed UK assets this morning and is taking the pound towards the 1.16 level against the US dollar, the highest level since the mini-budget. “Almost all news headlines have centred around the appointment of Rishi Sunak as next Tory leader and Prime Minister. Discussing Sterling this morning with City [...]
Gold and silver show signs of recovery with Fed rate hikes expected to ease October 26, 2022 Gold and silver are rebounding amid growing expectations the Fed will ease its aggressive policy of hiking interest rates.
Telecom giant EE bursts onto the fast-growing cyber security scene with alarm systems October 26, 2022 Telecom giant EE said this morning the company wants to make digital security more accessible to the public. Therefore, the operator unveiled new monthly subscription packages around home and cyber security. EE said customers will be able to buy home security deals – including a home alarm system – and an online cyber security package [...]
CMA gives London Stock Exchange green light on Quantile takeover October 26, 2022 The competition watchdog has given the greenlight to London Stock Exchange Group's takeover of compression firm Quantile today after an in-depth investigation did not raise “substantial competition concerns”.
Pound surges and UK debt costs tumble on Sunak’s first day as PM October 25, 2022 Rishi Sunak on his first day as prime minister promised “hope” everyday after addressing the UK’s economic challenges, but it already seemed that way for the pound today. Sterling surged as much as 1.8 per cent against the US dollar, pushing it far above the $1.03 record it reached after former PM Liz Truss’s disastrous [...]
HSBC shares sink to bottom of FTSE 100 despite profits topping City forecasts October 25, 2022 HSBC’s profits slid over 40 per cent in the third quarter of the year as it was hit by rising loan losses and hefty charges relating to the sale of its French retail business.
Backing the central bank pivot is a risky bet October 25, 2022 It is easy to criticise central banks for heaping pain on households and businesses. But, this is exactly what they are supposed to do under current economic conditions. Inflation in the UK, US and eurozone has hit 10.1 per cent, 8.2 per cent and 9.9 per cent respectively, all historic highs. The Bank of England [...]
