Rishi Sunak’s Conservatives have narrowly held on to the Uxbridge and South Ruislip seat in an unexpected UK parliamentary by-election result but were poised to lose two other seats in a night of political drama. Sunak’s ruling party retained the London seat vacated by former premier Boris Johnson by fewer than 500 votes, but the
News
The UK’s largest asset manager has been buying bonds and selling equities in preparation for a “significant” economic downturn, warning that the Bank of England will be forced to tip the economy into a recession despite signs of cooling inflation. Sonja Laud, chief investment officer at Legal & General Investment Management, which manages £1.3tn of
Goldman Sachs has slumped to its lowest quarterly profit in three years, as a costly retreat from consumer banking deepened the pain of the industry-wide slowdown in deals and trading. Net income plunged by almost two-thirds to $1.1bn in the second quarter, down from $2.8bn a year earlier, Goldman said on Wednesday. The Wall Street
Donald Trump said he was the target of a criminal probe into efforts to overturn the results of the 2020 presidential election, raising the possibility he could face fresh federal charges in the coming days. In a development he described as “horrifying”, Trump said he had received a letter from the US Department of Justice
Dementia experts have hailed the latest landmark in the treatment of Alzheimer’s after Eli Lilly released trial results that showed its new drug significantly slowed memory loss and cognitive decline. The US pharmaceuticals group on Monday reported full findings of its phase 3 clinical study of donanemab at the Alzheimer’s Association International Conference in Amsterdam,
Global companies are accelerating their push to decouple China data in response to the country’s increasingly stringent data and anti-espionage laws, as relations between Washington and Beijing deteriorate. The drive for full localisation of data in China and separation of information technology systems from the rest of the world is happening as Beijing strengthens its
The Pentagon’s annual funding bill is set to become the focus of a political showdown after Republicans inserted “anti-woke” social provisions into the legislation. The bill — known as the National Defense Authorization Act — is normally shielded from the most bitter partisan bickering and often passes with support from both political parties. But on
JPMorgan Chase said earnings from its lending business would continue to increase this year on the back of higher interest rates as the largest US bank reported a jump in profits in the second quarter. The group said on Friday that net income had jumped 67 per cent year on year to $14.47bn, ahead of
Rishi Sunak on Thursday accepted in full the recommendations of independent pay review bodies to give key public sector workers wage rises of about 6.5 per cent, telling trade unions to call off strikes now. The prime minister agreed the awards for 2023-24 after talks with chancellor Jeremy Hunt, when he was reassured they could
US inflation dropped to 3 per cent in June, lower than expected, in the latest sign that the Federal Reserve’s interest rate rises are having an effect on price pressures. The annual increase in the consumer price index slowed from 4 per cent in May to 3 per cent, the slowest rate of inflation since
Nato leaders are set to declare they are prepared for Ukraine to ultimately join the military alliance, in a carefully hedged statement that drew immediate condemnation from Kyiv for its lack of a firm timeframe. A draft of a summit communique under discussion on Tuesday pledges to “extend an invitation” to Ukraine to join the
Turkish president Recep Tayyip Erdoğan has tied Ankara’s approval of Sweden’s Nato bid to his country’s efforts to enter the EU, in a fresh blow to Stockholm’s attempt to join the military alliance. “I call out to those who have kept Turkey waiting at the EU door for more than 50 years, pave the way
US controls on investment into China would only target sensitive national security sectors, Janet Yellen has told her counterparts in Beijing during a four-day visit aimed at putting a “floor” under their turbulent relationship. Speaking at a news conference on the final day of her visit, which included meetings with Premier Li Qiang and her
Chancellor Jeremy Hunt has ruled out big pre-election tax cuts this autumn, warning he must “double down” on inflation and would not “pump billions of pounds of additional demand” into the UK economy. “We will not countenance tax cuts if they make the battle against inflation harder,” Hunt told the Financial Times, admitting that meeting
BP is in talks over a landmark insurance deal for its £30bn final salary pension fund as rising interest gives companies the chance to shift billions of pounds of liabilities off their books. Trustees for BP’s UK defined benefit scheme, which has more than 60,000 members, are in talks with multiple insurers over a so-called
Russian warlord Yevgeny Prigozhin has been spending time in Russia, Belarusian president Alexander Lukashenko said, despite a peace deal with Moscow under which he had agreed to relocate to Belarus. Prigozhin’s Wagner Group fighters had also not been transferred as the deal specified, Lukashenko claimed, while suggesting the mercenary leader was unlikely to face repercussions
The Financial Conduct Authority has publicly confirmed its investigation into Crispin Odey and Odey Asset Management for the first time and defended its “intensive” oversight of the hedge fund group. In a letter to the Treasury select committee published on Wednesday, FCA chief executive Nikhil Rathi said that while there was a limit to how
The average cost of five-year fixed-rate UK mortgages has hit 6 per cent for the first time since November, as banks are called to respond to concern that savings rates are lagging behind rises in borrowing costs. The residential mortgage rate reached 6.01 per cent on Tuesday, according to data provider Moneyfacts, as the Bank
Currency speculators have boosted bullish wagers on the pound to the highest level for nine years despite recent signs that sterling’s strong rally this year is flagging. The growing consensus among speculative investors, such as hedge funds, comes after sterling has already rallied strongly this year, driven by the Bank of England’s effort to lift
The world’s largest active bond fund manager says markets are too optimistic about central banks’ ability to dodge a recession as they battle inflation in the US and Europe. Daniel Ivascyn, chief investment officer at Pimco, which manages $1.8tn of assets, said he was preparing for a “harder landing” than other investors while top central
- « Previous Page
- 1
- …
- 31
- 32
- 33
- 34
- 35
- …
- 121
- Next Page »