AJ Bell assets dip 2 per cent despite investor surge October 20, 2022 Retail investment platform AJ Bell said its customers’ assets had dipped two per cent in the past year as volatility on the markets offset a surge in investors pouring onto its platform.
Schroders assets plunge £21bn as volatility rocks asset managers October 20, 2022 Schroders said its assets had plunged by nearly £21bn in the past quarter as it became the latest asset manager to report its holdings had been ravaged by geopolitical volatility and a looming recession this year.
One in three UK households: Energy crisis risks dragging 26m Brits into fuel poverty October 20, 2022 The axing of the energy price guarantee from April next year could lead to almost 11m UK households falling into fuel poverty, campaigners have warned, which is about 26m people. It means more than one in three British households face the grim prospect of hardship: there are an estimated 28.1m households in the UK. The average household [...]
Demand destruction? Two reasons to be sceptical October 20, 2022 | City Talk Global central banks have made an ‘all-in’ effort to front-load monetary policy tightening to dampen demand. But softer economic data in the eurozone and United States have exacerbated recession fears. As the growth outlook dims, many anticipate demand destruction to lead to lower inflation. That is, tighter monetary policy and the associated higher funding costs [...]
Crypto has ‘serious deficiencies in governance’, warns Bank of England official October 19, 2022 A Bank of England official warned there are “serious deficiencies in governance” in the crypto ecosystem today as she laid out a vision for the industry to win back trust from investors.
London’s FTSE 100 dragged down by windfall tax rumours hitting UK banks October 19, 2022 London’s FTSE 100 was dragged lower today by investors ditching UK banks on fears they will be hit by a windfall tax by new chancellor Jeremy Hunt. The capital’s premier index fell 0.17 per cent to 6,924.99 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
Truss and Kwarteng did not brief BoE on mini-budget, dep governor Cunliffe says October 19, 2022 Liz Truss or former chancellor Kwasi Kwarteng did not tell the Bank of England of their plans to slash taxes £45bn in last month’s botched mini-budget, one of the central bank’s executives said today. Sir Jon Cunliffe, the Bank’s deputy governor of financial stability, told the treasury select committee today the government did not brief [...]
Analysis: This shapeshifting inflation surge ain’t over yet October 19, 2022 Today’s inflation figures may have caused a few chairs to be flung at walls in the Bank of England. Prices are up 10.1 per cent over the year to September, above the City’s expectations and up from August. They were in line with the Bank’s forecasts though, a genuine rarity. Remember, the central bank has [...]
Bank of England to launch record rate rise to step up fight against 40-year high inflation October 19, 2022 The Bank of England will have to hike interest rates by a record whole percentage point at its meeting on 3 November, City economists are betting today after inflation returned to a 40 year high of 10.1 per cent last month. Prices are still rising sharply despite the Bank already lifting borrowing costs seven times [...]
Regulatory ‘call-in’ powers must not be politicised, City chiefs warn October 19, 2022 Powers allowing ministers to intervene in regulatory matters must not be “politicised” and should only be used “in extremis”, City chiefs have warned today.
