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BIZARRE: 13 - You Need To See This

UK bank shares fall as fears raised in City over budget tax raid

City traders were reacting to a report from the IPPR which said Rachel Reeves should impose a new bank tax.

Evening Standard

FTSE 100 Live 29 August: Tax raid fears hit banking shares, US inflation data in focus

FTSE 100 banking stocks are under pressure after a think tank urged Rachel Reeves to consider tax raid on major firms such as Barclays, Lloyds and NatWest.

Evening Standard

Windfall tax on banks could recoup QE losses and raise £8bn a year, IPPR says

Hiking a levy on the profits of major firms could raise up to £8 billion a year for public services, the IPPR said.

The Independent UK

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Windfall tax on banks could raise £8bn a year, Rachel Reeves told as she seeks to plug Budget black hole

This money is then partly being funnelled to bank shareholders due to a ‘flawed’ policy design, a new report says

The Independent UK

More pain for Reeves as government borrowing cost nears 27-year high

Chancellor is urged to ‘get a grip’ on country’s finances as yield on 30-year bond rises to 5.62%

The Guardian - UK

Bank of England policymaker calls for interest rates to stay on hold for longer

Catherine Mann, a member of the Bank’s Monetary Policy Committee (MPC), said keeping rates at the current level was ‘appropriate right now’.

Evening Standard

Bank of England governor says UK faces ‘acute challenge’ from sick and ageing workforce

‘We are well at the bottom of the league table’, said the senior policymaker

The Independent UK

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Sharp rise in airfare and food costs pushed UK inflation higher in July, denting rate cut hopes

Higher food and airfare prices pushed U.K. inflation above expectations in July

The Independent UK

Average price tag of homes fell by £10,000 over summer, property giant claims

The overall average time to find a buyer is now 62 days

The Independent UK

Average asking price for a London home has fallen by £35,000 this summer

There is now a ‘two-speed market’ with savvy summer sellers pricing realistically while others are pricing too high

Evening Standard

BOE Faces U.S. Export Threat After Ruling in Samsung Trade Secret Case

Chinese tech group to appeal ITC ruling in OLED display panel case

Caixin Global

FTSE 100 climbs ahead of jobs data

Upcoming figures on the UK jobs market and average earnings will be watched closely, not least by the Bank of England.

Evening Standard

Risk of ‘persistent inflation’ could affect rate cuts, says Bank economist

Huw Pill, chief economist at the Bank of England, stressed there has been ‘progress’ in bringing inflation down in recent months.

Evening Standard

Mortgage Interest Rates UK Major News: Pensioners Get Windfall, Could Gain More Than Borrowers

The Bank of England's latest rate cut brings modest mortgage relief, but pensioners may gain more due to the triple lock's inflation-linked rise.

International Business Times UK

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International Business Times UK

Bank of England Cuts Interest Rates to 4% — Is This the Calm Before the Storm?

The Bank of England has cut interest rates to 4% for the first time since 2023, signalling relief for borrowers but uncertainty ahead amid persistent inflation and slow growth.

Evening Standard

Stocks mixed but pound up after Bank of England rate cut

The FTSE 100 index closed down 63.54 points, 0.7%, at 9,100.77.

The Independent UK

Fact check: Bank has held rates four out of nine times since Labour took power

The Bank of England Monetary Policy Committee held interest rates unchanged at several of its meetings since last year’s general election.

The Independent UK

Voices: How the cut in interest rates might come back and bite us all

COMMENT: The flagging UK economy will get a badly needed boost from the Bank of England’s third rate cut of the year – but, says James Moore, given an unexpected jump in inflation, there could now be several unintended consequences

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Evening Standard

Average tracker mortgage borrower set to see £29 fall in monthly payments

The Bank of England base rate was cut from 4.25% to 4% on Thursday, reducing costs for some mortgage borrowers.

Euronews

Bank of England cuts its main interest rate to 4%, the lowest level since March 2023

The rate cut is the bank’s fifth since last August, when policymakers began to lower borrowing costs from a 16-year high of 5.25%.

Evening Standard

Interest rates cut to 4% but Rachel Reeves’ hopes of easing cost-of-living crisis hit by inflation jump blow

The reduction is the fifth over the past year and brings borrowing costs down to their lowest since March 2023

The Independent UK

The Bank of England cuts its main interest rate to 4%, the lowest level since March 2023

The Bank of England has cut its main interest rate by a quarter percentage point to 4%, as policy makers seek to bolster the sluggish U.K. economy

The Guardian - UK

Another Bank of England rate cut this year less likely given inflation fears and split vote – as it happened

Monetary Policy Committee has cut UK interest rates today, in a deeply split decision, but City pricing suggests another cut in 2025 is no longer fully priced in

Evening Standard

FTSE 100 Live 07 August: WPP slashes dividend, index stalls amid interest rate jitters

A below par FTSE 100 index today faded from its record close amid the impact of interest rate jitters, ex-dividend trading and a mixed bag of earnings.

The Independent UK

Interest rates live: Bank of England warns surging food prices could push inflation to 4%

Governor Andrew Bailey says there is ‘genuine uncertainty’ about future interest rates

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