Newsletter Jun 23, 2022
Brexit will cost UK workers 470 pounds a year, study predicts

Britain is becoming a more closed economy due to Brexit, with damaging long-term implications for productivity and wages which will leave the average worker 470 pounds ($577) a year poorer by the end of the decade, a study forecast on Wednesday.

UK Inflation Hits 40-year Record, Highest In G7

Soaring food prices pushed British consumer price inflation to a 40-year high of 9.1% last month, the highest rate out of the Group of Seven countries and underlining the severity of the cost-of-living crunch.

Britain Launches Free Trade Talks With Gulf Countries

Britain will launch talks over a new free trade deal with six Gulf states including Saudi Arabia on Wednesday and charities warned it not to ignore human rights in its latest bid to grow non-EU ties after Brexit.

MarketAxess, Tradeweb And Bloomberg Plan Joint EU Bond Price Feed

MarketAxess, Tradeweb and Bloomberg said on Wednesday they were exploring a single price feed for corporate and government bonds in the European Union as the bloc works to better integrate its capital market.

New UK statue unveiled to post-war Caribbean migrants

The artist said the monument recognised the "dreams and aspirations, courage and dignity, skills and talents" of the Windrush generation.

Crypto giant Tether to launch Sterling-pegged stablecoin

Major crypto firm Tether said on Wednesday it will launch next month a "stablecoin" pegged to the British pound, a move that comes as London draws up plans to regulate the fast-growing type of digital currency.

Get cracking with phasing out remaining Libor, UK watchdog says

The financial sector should not bet on remaining deadlines changing for the phasing out of the use of Libor interest rates, Britain's Financial Conduct Authority (FCA) said on Wednesday.

Rising rates pressuring countries' credit ratings, S&P Global warns

A growing group of countries are likely to see their credit ratings come under pressure as rising global interest rates hit already-stretched finances, one of the world's biggest rating agencies, S&P Global, has warned.

Covid subvariants cast shadow over European summer

Several Western European nations have recently recorded their highest daily case numbers in months, due in part to Omicron sub-variants BA.4 and BA.5.

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