The Bank of England cut its 2021 growth forecast for the UK economy. It held interest rates at 0.1% and bond-buying at £895 billion ($US1.22 trillion). The Bank said coronavirus vaccines will boost the economy further out. Sign up here for our daily newsletter, 10 Things Before the Opening Bell […]
Consumers could ‘lose all their money’ if they invest in cryptocurrencies such as Bitcoin, the UK’s financial watchdog has warned. Bitcoin hit an all-time high of almost $US42,000 on Friday, but has since fallen sharply to around $US35,000. Regulators are increasingly concerned about cryptocurrencies such as Bitcoin and have increased […]
Up to 4,000 financial services firms in the UK are at risk of failing due to the coronavirus pandemic, the Financial Conduct Authority warned on Thursday. Insurance services groups, payments firms and investment managers reported a fall in liquidity. However, the watchdog said stronger markets and a return to economic […]
British government announced around $US6 billion in stimulus to help businesses weather the new lockdown aimed at curbing the spread of the variant strain of COVID-19. Retail, hospitality and leisure companies will get one-off grants worth up to $US12,200, in addition to an extended furlough scheme. “Today we’re announcing a […]
UK retail sales rose 1.2% in October from September, beating expectations, the Office for National Statistics said. This was the sixth consecutive month of growth that brought consumer spending back to pre-pandemic levels, the ONS said. Year-on-year retail sales increased by 5.8%, as consumers started spending for Christmas shopping earlier […]
Legal & General Investment Management is expanding its Climate Impact Pledge to assess 1,000 companies. The companies will be ranked using a traffic light system on their approach to climate change — these rankings will be made public. LGIM noted that 7 of the 10 largest improvements in scores since […]