City enjoys love-bombing from Truss, but can she deliver?

Ever since the global financial crisis, City bosses have complained that politicians don’t give financial services enough love. The attitude to one of the UK’s few world-leading industries has been at best lukewarm, they moaned. Well, they can hardly lay that charge against the new prime minister. Liz Truss is surely the only world leader who … Read more

A strong market rally could be just weeks away if the U.S. midterm elections can put anxious stock investors at ease

If the U.S. midterm election cycle this year is like past ones, the stock market will carve out an important low right around Election Day in November. That should give some hope to beleaguered investors whose stock holdings have suffered double-digit losses so far this year. A meaningful rally could be just a few weeks … Read more

Warren Buffett Has Been Buying T-Bills. Here’s Why That’s a Smart Strategy.

Elias Stein Text size Warren Buffett parks most of Berkshire Hathaway ’s cash in ultrasafe U.S. Treasury bills, and individual investors may want to consider following Buffett’s lead now that the yields are as high as 3%. Treasury bills, which are U.S. government securities maturing in less than a year, are a good alternative to … Read more

Brexit bill pits politicians against regulators: ‘It’s a recipe for disaster’

Brexit is a once-in-a-lifetime chance for the City to break free from restrictive EU rules. Or so politicians are saying. On the campaign trail to become the next prime minister, both Liz Truss and Rishi Sunak have pledged a bonfire to swathes of red tape choking the ambitions of UK financiers. But that process is already … Read more

Bank of England governor Andrew Bailey warns MPs: Don’t weaken our independence

Bank of England governor Andrew Bailey has urged politicians not to dilute the bank’s independence as parliament prepares to debate a landmark overhaul to post-Brexit regulation. The Financial Services and Markets Bill was introduced right before the summer recess, giving the government greater oversight of the UK’s finance watchdogs as it lays the groundwork to axe … Read more

Fears mount on ‘race to the bottom’ as UK’s post-Brexit trading rules take shape

After Brexit, many expected divergence in regulation between the EU and the UK, as Britain sought to make its own financial system more competitive. But with the introduction of the Financial Services and Market Bill in the UK and the EU Parliament’s draft report of the MiFID II review, the two jurisdiction’s regulation seem to be … Read more

Stocks Could Keep Rising If the Fed Shows Restraint

Text size As the market rebounds, speculative stocks are stirring. For proof, consider Cathie Wood’s ARK Innovation ETF, up about 40% since mid-June. David Swanson/Reuters/Alamy What bear market? Stocks continued their summer rally this past week as better-than-expected inflation results helped lead to a 3.3% gain in the S&P 500 index, its fourth consecutive weekly … Read more

Senate Passes Climate Bill. The Rush to Renewable Energy Is On.

The climate and tax package passed by the Senate on Sunday will unlock some $370 billion in funding for clean energy and accelerate a historic shift in how the world is powered. Along with a parallel initiative in Europe, the bill could trigger private investments that reach into the trillions. The transition to renewable energy … Read more

Helena Morrissey: The City’s ‘Big Bang 2.0’ hasn’t gone far enough

Baroness Helena Morrissey has been an executive at multiple asset managers and is a noted City diversity campaigner The long-awaited Financial Services and Markets Bill was finally introduced to parliament just ahead of the summer recess. At more than 330 pages, it is the biggest financial services legislation package in more than two decades. The bill … Read more

A Brexit believer may be a good fit for the City as Boris’ messy tenure ends

There will be few tears shed in the City over Boris Johnson’s departure. Back in 2019 some senior figures had, despite deep misgivings, concluded that he was a good choice to replace Theresa May as prime minister. But his performance in office has been a huge disappointment, most importantly of course in terms of his … Read more