In the City

Sam Richards, chief executive of Britain Remade and a former special advisor at Number 10, joins the hosts for a deep dive into the UK's upcoming spending review. The discussion highlights a potential shift towards infrastructure funding, examining its implications for energy, housing, and transportation. They tackle the complexities of major projects, the need for regulatory reforms, and the challenges of balancing development with environmental concerns. Richards emphasizes the importance of strategic investment to avoid bureaucracy and ensure sustainable growth.

In this conversation, Yolande Barnes, a Professor of Real Estate at University College London, offers a deep dive into the current state of the UK housing market. She discusses the stagnation of house prices and its impact on first-time buyers. Despite fears, she sees no imminent crash, advocating for a mindset shift towards long-term ownership. Barnes also critiques government strategies, suggesting a focus on retrofitting homes instead of relying on speculative building. With regional trends in flux, her insights are essential for anyone navigating today's market.

Matthew Martin, Bloomberg's Chief Correspondent for MENA Sovereign Wealth Funds, and Dinesh Nair, Chief Correspondent for Global Deals, dive into the booming deal-making landscape in the Middle East. They discuss over $1 trillion in economic commitments from Saudi Arabia, Qatar, and the UAE, focusing on sectors like defense and AI. The duo examines the implications of American investments and the growing interest in sports ownership as a way to enhance regional influence. Finally, they address the shift of investment capital away from Europe towards the US and emerging markets.

Nimesh Shah, CEO of Blick Rothenberg, offers a keen insight into the UK government's recent tax reforms targeting wealthy non-domiciled residents. He discusses the possible economic fallout, with studies suggesting a significant exodus if wealthy individuals flee the country in response to losing their tax status. The conversation also covers the need for better communication between the government and high earners, emphasizing the importance of a stable tax strategy to retain wealth and navigate future uncertainties.

It's been a whirlwind week for UK trade — first a deal with India, and now, a surprise announcement: a US-UK trade agreement. With aims to reduce trade barriers and increase market access for American imports and industrial exports, this latest deal sets the stage for closer economic ties between the two countries.Hosts David Merritt and Francine Lacqua speak with Dan Hanson from Bloomberg Economics to unpack the US-UK trade deal and what it could mean for the UK's broader economic outlook.See omnystudio.com/listener for privacy information.

London is closing the gap with New York for the title of world’s top financial center, according to the latest Global Financial Centres Index. Is it a signal that the the UK’s efforts to rejuvenate its banking and investment sectors post-Brexit are starting to pay off? On this week’s In The City, host David Merritt sits down with Chris Hayward, Policy Chairman of the City of London Corp., who makes the argument it is.See omnystudio.com/listener for privacy information.

Tom Rees, a UK economy reporter at Bloomberg, dives deep into the implications of U.S. tariffs on the U.K. economy. He highlights insights from Megan Greene of the Bank of England, suggesting that these tariffs may actually create disinflationary risks in the U.K. rather than driving up prices. They discuss trade diversion, the potential for aggressive rate cuts, and the complexities of navigating U.K. monetary policy amidst global economic uncertainties. Rees emphasizes the need for the Bank of England to adapt to ever-changing market conditions.

On this week's In the City, hosts Allegra Stratton and David Merritt delve into the likely nationalization of British Steel and how the crisis at the Chinese-owned company is forcing the Labour government to rethink its relationship with Beijing. Featuring Bloomberg Opinion columnist Matthew Brooker and senior economics reporter Philip Aldrick, the discussion probes conflicting views on China's role as a UK trade partner, and the broader economic implications amid current UK-US trade talks.See omnystudio.com/listener for privacy information.

Ray Dalio, founder of Bridgewater Associates and a renowned expert in economics and finance, chats with Francine Lacqua about the recent tumult in the markets. They dissect the implications of Trump's tariffs and highlight five forces influencing national stability. Dalio draws intriguing parallels to the 1930s, emphasizing trust in capital markets and the interdependencies between the U.S. and China. He calls for a shift in economic roles to mitigate risks and navigate the uncertain landscape ahead.

On this week’s In the City, host Francine Lacqua discusses the rise of private credit amid economic uncertainty driven in large part by US President Donald Trump and his global trade war. Joined by Bloomberg senior reporter Silas Brown, Lacqua looks at how key figures like Blackrock Chief Executive Officer Larry Fink have emphasized a shift towards private markets, and the importance of non-publicly traded opportunities as a way for average Americans to build wealth. The discussion also includes the challenges of high interest rates on valuations, and the evolving regulatory landscape required to protect retail investors as they gain access to private investments.See omnystudio.com/listener for privacy information.