Moody’s warns Russia is on verge of defaulting on debt obligations April 16, 2022 Russia is on the verge of defaulting on its debt obligations, a major credit agency has cautioned. The country broke the terms of two bond contracts with payments scheduled on 4 April by paying in rubles, instead of dollars. US financial services firm Moody’s has noted the use of rubles “represents a change in payment [...]
Eurozone inflation forecast to double this year as industry confidence plummets April 16, 2022 Inflation in the eurozone is anticipated to double to six per cent this year, piling more pressure on the European Central Bank to hike interest rates. Inflation expectations have shot up from an average of three per cent to six per cent in 2022, according to the ECB’s quarterly survey of economists. This is three [...]
Goldman Sachs profits plunge as dealmaking boom falters April 14, 2022 Wall Street giant Goldman Sachs reported a plunge in profits and slashed bankers paypackets in the first quarter of the year as the post pandemic dealmaking boom finally faltered.
ECB leaves interest rates unchanged as it commits to speed up stimulus exit April 14, 2022 The European Central Bank has announced it will leave interest rates unchanged at zero per cent today as it breaks rank with central banks that have hiked rates in recent weeks to tame rampant inflation.
Standard Chartered pulls back from Africa and Middle East in cost cutting push April 14, 2022 British lender Standard Chartered announced today it would slash its presence in Africa and the Middle East as it looks to cut costs and simplify its business.
Swiss banker who paid for strip clubs on expenses sentenced to almost four years for fraud April 14, 2022 A banker who has been jailed for fraud put strip club visits and holidays on expenses, a court was told. Former banker of the year in Switzerland, Pierin Vincenz, will spend almost four years in jail, after he was sentenced at the culmination of a high-profile case in the country. The ex chief executive of [...]
Exclusive: Unicorn Bank of London announces new deputy chief executive April 14, 2022 A new deputy chief executive has been appointed by the Bank of London, the second clearing bank to launch in the UK within the last 250 years. Tom Wood has joined the technology-based company which landed with a bang last year, being valued at £1.1bn. The first pre-revenue bank to reach unicorn status upon entering [...]
Chelsea takeover: who are the four remaining bidders? April 13, 2022 As the race to takeover Chelsea enters the final stretch, who are the consortiums vying to succeed Abramovich?
Graduates face 12 per cent interest rate on student loans April 13, 2022 Graduates could be weighed down by 12 per cent interest payments on student loans from September, fresh analysis has revealed.
Is the yield curve signalling recession? April 13, 2022 | City Talk The US “yield curve”, or part of it, has “inverted” once more. This bond market measure has been a reliable predictor of US recessions over the last four decades. With only one exception, each time the yield curve has inverted, the US economy has entered a downturn within 18 months. What is the yield curve? [...]