Hints and tips:
...Ofwat is in the process of weighing its decision, with a draft ruling expected in June when the company is expected to renew efforts to draw in billions of pounds of equity from new and existing shareholders...
...But another Brussels-based senior diplomat said that other delegations understood the UK’s complex political situation in 2024, and that there was still time to arrange the summit before the end of June....
...Shares in the bank have halved since Winters started in June 2015....
...Until June, Labour had portrayed the £28bn number as “additional” expenditure....
...Interest rates will have to stay high for an extended period, he warned on Tuesday, pushing back against investors who are betting that the BoE will make its first interest rate cut from 5.25 per cent in June...
...When the idea of scrapping the cap was mooted in June last year, Labour leader Sir Keir Starmer said the Conservatives’ plan amounted to “pay rises for bankers, pay cuts for district nurses”....
...The data examined by the FCA covers the period from June 2022 to June 2023....
...But a Redfield and Wilton poll this week put Labour’s Richard Parker on 42 points, 14 points ahead of Street on 28. A separate Savanta poll put Street just three points behind Labour....
...They suspect that by promising Rwanda flights in July, Sunak might either call an election in June — vowing to start the removals if he won — or could make them part of a July poll strategy....
...Recent commentary from BoE governor Andrew Bailey and deputy governor Dave Ramsden has kept alive hopes of a June rate cut....
...George Parker here, standing in for Stephen, with news of what home secretary James Cleverly called a “landmark moment” overnight. Yes, the government’s Safety of Rwanda bill is about to become law....
...Rob Wood, economist at the consultancy Pantheon Macroeconomics, predicted that the BoE would start cutting interest rates from their 16-year high of 5.25 per cent from June....
...The European Central Bank kept rates at an all-time high on Thursday while signalling it was considering a cut at its next meeting in June....
...Ofwat doesn’t have to make a draft ruling until June. It won’t make a final ruling till the end of this year or beginning of next year....
...Traders price the probability of a quarter-point cut by June at about 60 per cent, roughly the same as before the data release....
...losses on the Tories in local elections on May 2, which could prompt more party infighting and plotting, some MPs believe Sunak will be weakened and may feel he has no choice but to call a national vote in June...
...Markets are now pricing in around three quarter-point interest rate cuts by the Bank of England this year, with a 65 per cent probability of the first cut being delivered by June....
...George Parker is the FT’s political editor. Jim Pickard is the FT’s deputy political editor This piece was amended since publication to reflect that Gary Lubner moved to the UK 35 years ago....
...In a sign of improving relations between London and Brussels, the two agreed last June to set up the joint EU-UK Financial Regulatory Forum to discuss financial regulation and co-operation....
...At the start of this year, the government said it had eliminated the backlog of 92,000 asylum applications until late June 2022, when in fact more than 4,000 cases remained unresolved....
...In June, Reeves confirmed a Financial Times story that the £28bn target might not be met until the second half of the first Labour parliament....
...george.parker@ft.com...
...Swiss banks manage an estimated $2.4tn of assets on behalf of the world’s richest people, according to a report by Boston Consulting Group this June....
...In June, the Court of Appeal ruled it was unlawful to send people to have their asylum applications processed in Rwanda....
...In the year to June 2019 official figures showed net migration at 224,000; the figure in 2022 was more than treble that amount....
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