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Chancellor Jeremy Hunt said it was positive to see inflation continuing to fall Inflation came down from 11.1 per cent last autumn to 4.6 per cent today By John-paul Ford Rojas Associate City Editor Updated: 02:16 GMT, 13 December 2023 Hopes for an interest rate cut in the first half of next year have been … Read more
By Leah Montebello Updated: 23:26 GMT, 12 December 2023 Shares in investment platforms slumped after financial watchdogs warned them against ripping off customers by ‘double dipping’. Hargreaves Lansdown, AJ Bell and Abrdn saw a collective £458million wiped off their value after the Financial Conduct Authority (FCA) launched a crackdown on unfair charges. In a letter … Read more
By John-Paul Ford Rojas Updated: 23:25 GMT, 12 December 2023 Bond yields fell yesterday as fresh signs of easing inflation pressure threw the spotlight onto central banks ahead of key interest rate decisions. UK figures showed a slowdown in wage growth while in America inflation dipped to 3.1 per cent. The data comes ahead of … Read more
By Daily Mail City & Finance Reporter Updated: 23:23 GMT, 12 December 2023 Boom time: Chemring said orders hit £756m in the year to the end of October Chemring reported booming demand yesterday, as it cashed in on global instability. The defence group, which makes materials and components for missile systems, explosives and propellants, said orders … Read more
By Leah Montebello Updated: 17:32 GMT, 12 December 2023 The number of passengers flying through Heathrow is just 2 per cent below pre-pandemic levels as travel continues to bounce back. Europe’s busiest airport revealed 6.1m travellers jetted in and out of its terminals in November – only slightly below the 6.2m that flew in the … Read more
The FCA has written a letter to 42 chief executives of financial services firms It believes groups involved in double dipping are not acting out of ‘good faith’ AJ Bell and Hargreaves Lansdown shares both slumped on Tuesday morning By Harry Wise Updated: 17:12 GMT, 12 December 2023 Britain’s financial regulator is clamping down on … Read more
Five million mortgage borrowers face a typical £240 increase in their monthly repayments over the next three years, the Bank of England has warned. And for around 900,000 home owners the increase will be £500 or more, according to the Bank’s twice-yearly Financial Stability Report. The report highlighted that while households had so far proved … Read more
By Francesca Washtell Updated: 11:08 GMT, 3 December 2023 Ascential chief executive Duncan Painter sold £840,000 of stock after a deal to split up the firm sent its shares soaring. Painter, who has led the media and events group since 2011, sold 300,000 shares for £2.80 each. He earned £1 million last year and has … Read more
By Jessica Clark Updated: 09:35 GMT, 1 December 2023 Metro Bank is planning to slash its branch opening hours and axe hundreds of jobs as part of proposals to save it from collapse. The lender said it will make 20 per cent of its 4,266-strong workforce redundant, which means more than 850 jobs will be … Read more
When it comes to famous anniversaries, the introduction of the fixed rate mortgage is unlikely to be one that most people are keeping tabs on. But Britons have adopted them in their droves since the first fixed rate mortgage was introduced 35 years ago and they are now the product of choice for the majority … Read more