THE DAILY BRIEFING
RATE RISE Top Bank of England official Andy Haldane has said it is time to ‘look seriously at the possibility of raising interest rates’ in the latest sign that the Old Lady is shifting towards a rate rise. It comes after Governor Mark Carney backed a hike if wages and business investment increased.
Chief economist Haldane said he was happy with the current recordlow rate of 0.25pc but it was time to ‘be vigilant for what happens next’.
SCHOOL EXPANSION Schools provider Wey Education is opening an online language school as it powers ahead with its expansion plan.
It will offer tuition in English as a foreign language but intends to expand the range of languages.
CONTRACTS PROBE The City watchdog has put a crackdown on controversial contracts for difference trading on hold while European regulators carry out their own probe. The UK’s Financial Conduct Authority said it still had concerns about the contracts as punters’ losses can exceed their deposits.
However, it has backed away from action while the European Securities and Markets Authority considers drawing up its own rules.
BANKS’ BONANZA A payout is on the cards as Wall Street banks are poised to hand billions to shareholders after a US Federal Reserve health check. Lenders had been ordered to build up reserves to avoid a repeat of the financial crisis.
A bonanza is now expected, with JP Morgan alone due to give away £20.8bn in the next 12 months.
HOMES SALE Social housing firm Civitas has spent £22m on 16 properties for vulnerable people, for 173 tenants. Its shares rose 0.7pc, or 0.75p, to 109.25p.
RECORD HIGH The US importer of Mexican beers such as Corona and Modelo fizzed to a record high yesterday, driven by strong demand for premium beers. Shares in US brewer Constellation
Brands climbed by as much as 7.5pc to an all-time high of $197.41 after it beat profit expectations in the firstquarter and raised its outlook for the rest of the year.
WOBBLY START Trading in US food delivery service Blue Apron had a shaky start after a £231m listing in New York.
There are fears it could face stiff competition from Amazon, which has bid £10.5bn for Whole Foods.
Shares spiked 9pc up but fell back to just above the offer price of $10.