Asset managers brace for more job cuts amid market turbulence

Turmoil on financial markets is expected to deepen layoffs and accelerate acquisitions in the fund management industry.

Brexit bites: more than 200 products subject to shrinkflation, says ONS

Weak pound has pushed up cost of imports, leading firms to reduce pack sizes

More than 200 different consumer products, from toilet roll to chocolate, shrank in size about the time of the Brexit vote.

According to figures from the Office for National Statistics, as many as 206 individual items were made smaller between September 2015 and June 2017, more than double the number that increased in size.

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One thing to be grateful to Brexit for: Britons are buying less on credit

Consumer borrowing is falling, which is no bad thing. But it’s uncertainty, not regulation, that’s acting as the brake

A sharp decline in household spending on the never-never, and especially spending on credit cards, is a trend that must surely be welcomed. The Bank of England said last week in its quarterly credit health check that high street banks were about to witness the biggest decline in such borrowing since records began 12 years ago.

Threadneedle Street said its index of demand for credit card lending over the three months to the end of March had dropped to -20.7 from -7.2.

The shocking element of the story is how much harm a fall in personal lending can cause to the British economy

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LJM Partners sues unnamed ‘manipulators’ it blames for volatility losses

LJM Partners Ltd on Friday filed a lawsuit against unnamed parties it holds responsible for hundreds of millions of dollars it lost after last year’s jump in stock market volatility that effectively…

Lloyds, Halifax and Bank of Scotland customers face payments problems

Hundreds of thousands of customers were unable to do most payments transfers from online accounts.

Investors punish poorly performing hedge funds by pulling billions

Hedge funds suffered their worst quarterly outflows in two years when investors pulled $23 billion from the industry during the last three months of 2018, new data released on Friday show.