High-cost lenders pose ‘increased’ risk as cost of living rises, FCA warns October 6, 2022 High cost lenders need to tighten their lending criteria as cash-strapped Brits turn to debt to cope with the rising cost of living, the financial watchdog has warned.
PCF Bank shares tank after emergency lending freeze October 5, 2022 Shares in London-listed PCF Bank have tanked more than a third today after the firm announced it would halt lending activity as it struggled with cash levels following a failed takeover.
City sitdown: Private equity should learn to be more emotional, argues City grandee October 5, 2022 Whether you like it or not, private equity is a significant part of the UK economy and accounts for almost 50 percent of all deal value, double the level from just five years ago, according to a recent deal analysis from PwC. Its fingerprint has been all over household names including Asda, the AA, Morrisons and [...]
HSBC mulls ditching Canadian business amid Ping An breakup pressure October 5, 2022 HSBC is mulling hiving off its Canadian business in a move that could raise billions for Britain’s biggest bank. The banking giant has asked JP Morgan to identify possible buyers of its Canadian arm. Sky News first reported the news today. If HSBC did leave Canada – where it has built up a sizable £6bn [...]
Credit Suisse shares rise as crisis fears settle October 4, 2022 Shares in scandal-sticken lender Credit Suisse rose nearly five per cent this morning as fears of an impending crisis began to settle after a turbulent day of trading yesterday.
Credit Suisse shares tumble as investor concerns grow October 3, 2022 Shares in Credit Suisse have tumbled beyond seven per per cent today as a charm offensive by bosses over the weekend failed to reassure investors over the bank’s financial stability.
Rees-Mogg hints government will merge financial services regulators October 2, 2022 Jacob Rees-Mogg has hinted the government will merge the UK’s financial services regulators, after the Prime Minister’s team spoke about the move during summer. It was reported during the Tory leadership contest that Truss wanted to roll the Financial Conduct Authority, the Bank of England’s Prudential Regulation Authority and Payment Systems Regulator into one body. [...]
Credit Suisse chief looks to soothe staff concerns over bank’s stability October 2, 2022 The chief of beleaguered lender Credit Suisse has stepped into to soothe staff concerns over the financial stability of the bank, as it prepares to publish a major strategic review this month.
Explain decision to pull mortgage products, FCA warns lenders October 2, 2022 The chief of the City watchdog has fired a warning shot at lenders after banks pulled mortgage products from the market in droves this week amid extreme market volatility.
UK avoids recession with 0.2 per cent growth September 30, 2022 The UK economy grew 0.2 per cent in the second quarter of this year as it bucked initial estimates of a 0.1 per cent contraction in the the three months to June, official figures showed today