In the City

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.

UK Chancellor of the Exchequer Rachel Reeves has delivered her Spring Statement, and Bloomberg Chief UK Economist Dan Hanson and senior reporter Phil Aldrick join host Allegra Stratton to share their assessment. Aldrick posits that it wasn't "quite the horror show that some people were fearing" because restoring Britain's fiscal headroom didn't require severe public service and welfare cuts. But Hanson notes that even so, she's left herself little room to manoeuvre for the unexpected.See omnystudio.com/listener for privacy information.

Eight months after Labour’s landslide victory, Bloomberg examines if the UK government is on track to meet key election pledges. Senior reporter Phil Aldrick and Bloomberg Economics chief UK economist Dan Hanson join hosts Francine Lacqua and Allegra Stratton. See omnystudio.com/listener for privacy information.

In this week’s episode of In the City, we explore whether more European businesses will decouple from American companies and Wall Street. Bloomberg deals correspondent Dinesh Nair describes the Trump-induced separation as yet another “unprecedented” rupture initiated by the Republican president. But it could be good news for Europe in the long run, being the spark needed the unify and galvanize European leaders into securing their own defense industries and economies. “I’m not sure if he’s making America great again,” Nair says of Trump. “But he’s definitely trying to make Europe great again.” See omnystudio.com/listener for privacy information.