While the direction of the UK economy remains uncertain, dealmaking is flourishing as the country races ahead of its European peers in the M&A market - The UK economy currently stands at a crossroads. Critics of the new...more
The Financial Ombudsman Service (FOS) has published a consultation paper seeking views on the interest rates applied to compensation awards. This follows concerns raised in response to a 2024 joint call for input with the UK...more
Pound (GBP) rises against weaker rivals - The pound (GBP) trended higher against its weaker rivals on Thursday, with a slight improvement in the market mood helping to lift the increasingly risk-sensitive currency....more
The economic outlook for the UK in 2025 presents a mixed picture, with expectations of modest growth tempered by persistent inflationary pressures....more
Pound (GBP) steady as BoE’s Mann warns of high inflation Trade in the pound (GBP) was mostly positive on Wednesday, as it drew support from comments by Bank of England (BoE) policymaker Catherine Mann....more
Pound (GBP) licks wounds following UK CPI - The pound (GBP) was mixed yesterday as a lack of new data left GBP investors to dwell on Wednesday’s consumer price index....more
In this Insight, first published in PLC, Yorkie Fong considers the decision in A&V Building Solution Ltd v J&B Hopkins Ltd [2024] EWHC 2295 (TCC), which clarified the binding nature of an adjudicator's decision on their fees...more
A 1% reduction in the Bank Rate would reduce the UK government's annual interest charges on the national debt, but the exact amount of the reduction depends on the proportion of the debt that is sensitive to changes in...more
The pound ticked lower on Thursday as the UK’s latest jobs report revived the potential of a Bank of England (BoE) interest rate cut next month. Sterling remains on the back foot so far this morning, with GBP/EUR subdued...more
The Bank of England this week flagged concerns about the financial stability risks posed by private equity in light of higher interest rates and the resulting pressure on valuations. While the announcement has been widely...more
Welcome to Debt Download, Goodwin’s monthly newsletter covering what you need to know in the leveraged finance market. We hope you are enjoying the Spring weather! Note: Some of the links in this newsletter may redirect...more
As our latest leveraged finance report reveals, European leveraged finance markets saw significant inertia through the course of 2022 as high inflation, rising interest rates and cooling M&A activity put the brakes on...more
European leveraged finance markets saw significant inertia through the course of 2022 as high inflation, rising interest rates and cooling M&A activity put the brakes on leveraged loan and high yield bond issuance. How will...more
Despite mixed messages over the past few weeks, it sounds as if the Bank of England is considering taking UK base rate interest below 0% in order to give itself and the Chancellor more headroom for measures intended to...more
Compounding the Bank of England’s decision to slash interest rates to 0.25%, the UK Government sent a message loud and clear today that it is braced - yet prepared - for the potentially devastating (but temporary) impact of...more
Andrew Hauser, the Executive Directive of Markets at the Bank of England, today announced the launch of two significant initiatives to boost the U.K.’s transition away from sterling LIBOR. Firstly, the BoE intends to begin...more
Goldman Sachs is reportedly in negotiations with federal prosecutors to resolve claims about its role in the Malaysian 1MDB scandal for upwards of $2 billion. A settlement—which “could include a guilty plea from Goldman’s...more
Apparently hoping to urge China off of its new go-slow tactic, the White House is applying its maximum pressure campaign again, announcing yesterday that the US will “impose a 10 percent tariff on an additional $300 billion...more
As the leveraged debt market has matured at pace in the past decade, many are hopeful that it will maintain an upward trajectory, at least in the medium term. As noted in the report, times have changed, and 2018 has seen a...more
Each business day, shortly before 12:00 p.m. London time, the London Interbank Offered Rate, or LIBOR, is published. The rate, which is the average of up to 20 banks’ estimates of the interest rate at which they can borrow...more
The CFTC’s reportedly investigating the interest rate swap activities of Citigroup and others. Swaps allow companies to “hedge against a rise or fall in interest rates on the debt that they issue or hold, with banks usually...more
The Bank of England published a consultation paper on the Bank’s proposals to reform the Sterling Overnight Index Average Interest Rate Benchmark, known as SONIA. The Bank of England, which took over as administrator of SONIA...more
Yesterday, Hershey rejected Kraft spinoff Mondelez’s $23 billion takeover offer, but the dealmaking efforts may not be over. The success of any increased offer lies in the hands of the Hershey Trust Company, a charitable...more