Category: Business

Investment bankers’ advisory fees fell to their lowest level in nearly a decade as the industry suffered a wave of job cuts due to prolonged deal delays. Fees for completed global mergers and acquisitions fell 35% in the first half of the year to $12.8 billion compared to 2022, the lowest level since 2014, according...

Wall Street stocks were muted on Wednesday as the chairman of the Federal Reserve and other central bank chiefs warned that interest rates may need to rise further to curb inflation. The benchmark S&P 500 closed the day largely unchanged, while the tech-heavy Nasdaq Composite rose 0.3% in a volatile session. Stock market moves came...

The government said it was prepared for a “range of scenarios” after reports that Thames Water could be on the brink of collapse. Thames Water is under pressure over its performance and is reportedly struggling under £14bn of debt. Business Secretary Cammy Badenoch said she was “very concerned” by the situation, adding that “we need...

The British Retail Consortium reported that prices in supermarkets and chain stores rose by 8.4% in June compared to the same month last year, down from the annual increase of 9.0% in May, which was the highest rate since BRC reporting began in 2005. The decline in store price inflation is the second this year,...

The financial services agreement with the European Union has been hailed as an “important turning point”, according to Jeremy Hunt. The Chancellor signed the Memorandum of Understanding (MoU), which he will see greater cooperation between EU officials and the Ministry of Finance. EU Financial Services Commissioner Mairead McGuinness also agreed to the deal in Brussels...

Supermarket bosses denied they were making too much money from the price hike, telling MPs the industry was “the most competitive we’ve ever been”. Bosses at Tesco, Sainsbury’s, Asda and Morrisons were under fire on Tuesday over high food and fuel prices. Supermarkets rejected claims of overprofits and said they were shielding customers from the...

Rail operators are drawing up plans to eventually close most of England’s station ticket offices, in a move that will reignite a long-running dispute between rail unions with the industry and the UK government. The industry intends to launch a public consultation process on the closure in the coming weeks with the support of ministers,...

Central banks must accept the “inconvenient truth” that they may have to tolerate a longer period of inflation above the 2 percent target to prevent a financial crisis, the IMF’s deputy chief has warned. Gita Gopinath told the European Central Bank’s annual conference in Sintra, Portugal, that policymakers risk facing a tough choice between allowing...

The lira has weakened by 28% this year Most of the declines occurred after last month’s election The new finmin, the governor of cenbank is moving to orthodox politics ANKARA, June 26 (Reuters) – The Turkish lira fell as much as 3 percent to a record low against the dollar on Monday after the central...