Author: Chaz Cutler

Tory leader Liz Truss is considering plans to merge three of the City’s key financial regulators, according to reports. The Financial Conduct Authority, the Prudential Regulation Authority and the Payment Systems Regulator could all be merged into one organisation, the Financial Timeswriteciting insiders from the campaign. The trio’s roles and responsibilities would be immediately revised if Truss triumphs over rival Rishi Sunak, the newspaper reports. In his bid to become the next prime minister, Truss has gone on the offensive against City regulators, claiming their caution has held back economic growth. He singled out the Bank of England for not…

Rising food prices pushed the annual inflation rate into double digits for the first time in four decades. Food prices alone rose 2.3 percent from June to July, the fastest monthly increase in 21 years, with notable increases among staples such as bread, cereals, milk, cheese and eggs. The surge in box office prices comes as a contest to be Britain’s next prime minister has left the country in a leadership vacuum and political answers remain unresolved. Overall, inflation rose faster than economists had expected, with prices up 0.6 percent from the previous month, the Office for National Statistics said…

Jane Ambachtsheer is the Global Head of Sustainability at BNP Paribas Asset Management It’s been a mixed year for sustainable investing. On the one hand, the financial sector has signed net zero commitments at an unprecedented rate, while thousands across the sector have been involved in the preparation and implementation of the EU’s Sustainable Finance Disclosure Regulation. On the other hand, we have seen growing skepticism about the depth of implementation of ESG integration and sustainable investment practices, including sanctions from regulators on several continents. Are we seeing a fundamental shift in industry practice or is greenwashing at work? The…

(CNN) – The one from New York 9/11 Tribute Museum closed its lower Manhattan location on Wednesday, less than a month before the 21st anniversary of the 9/11 terrorist attacks, citing financial losses during the pandemic. “Financial difficulties, including the loss of revenue caused by the pandemic, prevent us from generating sufficient funding to continue operating the physical museum,” Jennifer Adams, co-founder and CEO of the museum, said in a press release. The museum opened in 2006 and provided information about 9/11 and the “unprecedented rescue and recovery operations and the rebuilding of both Lower Manhattan and people’s lives.” according…

After two years of extraordinary volatility in state finances, the state Budget Division’s 2022-23 state budget financial plan projects fiscal stability for the next five years and includes plans to significantly strengthen rainy day reserves , according to a State Intervention report. Thomas P. DiNapoli. However, DiNapoli’s analysis identifies several revenue, expense and sustainability risks that could disrupt the financial plan that should be closely monitored. “Amid great uncertainty, the state’s fiscal position is currently stable, providing an opportunity to build reserves that should not be missed.” DiNapoli said. “While the State Financial Plan expects continued revenue growth, economic risks…

Applications are now open for Main Street Economic Revitalization Program grants through the Greater Mankato Growth Foundation, Inc. (WYD). This program is funded by a $1.9 million grant from the Minnesota Department of Employment and Economic Development, the state’s lead economic development agency. Businesses looking to develop or redevelop property in one of the three commercial corridors of Blue Earth and Nicollet County can apply for grants to cover up to 30% of the total eligible project costs. Applications will be accepted immediately, and anyone planning a construction project of at least $5,000 is encouraged to apply. Target corridors include…

Federal Reserve officials discussed the need to keep interest rates at levels that would constrain the economy “for some time” to try to contain inflation, the UK’s short-term borrowing costs rose to highest since 2008 and Tencent posts its first quarterly revenue decline. . Also, the collapse of Chinese food delivery app Miss Fresh could be a cautionary tale for other tech giants in China. Mentioned in this podcast: Fed officials say tighter rates may be needed ‘for a while’ UK bonds sell off as hot inflation boosts expectations of a BoE rate hike Tencent hurt by slowing Chinese economy…