Tech giants plunge in value after weak earnings October 29, 2022 US tech giants have had more than $250bn wiped off their value in the past week as investors fled in the wake of a weak set of quarterly earnings and warnings of an advertising slowdown.
Government eyes bank surcharge U-turn despite Lloyds profits tumbling October 27, 2022 Britain’s biggest mortgage lender, Lloyds Bank, has set aside hundreds of millions of pounds in preparation for a surge in loan defaults caused by the rising cost of living and higher interest rates squeezing household budgets. The lender today said it had banked £668m over the three months to September to absorb souring loans, primarily [...]
Aviva and Hargreaves Lansdown call on regulators to prioritise net-zero October 27, 2022 A group of top finance firms including Hargreaves Lansdown and Aviva Investors have called on financial watchdogs make net-zero a central objective if the UK is to avert the worst economic damage of climate change.
Credit Suisse plots 9,000 job cuts and £3.5bn share sale in final attempt to save business October 27, 2022 Scandal-stricken lender Credit Suisse is looking to raise 4bn Swiss francs (£3.5bnn) by offloading stock as it slashes 9000 jobs and spins off its investment bank in a bid to steady the ship after heavy losses this year.
Twitter shares to be suspended as Musk closes in on takeover October 27, 2022 Twitter shares are set to be suspended from trading on the New York Stock Exchange tomorrow as Elon Musk closes in on a takeover of the firm after months of wrangling.
Renishaw profits dip as orders begin to slow October 27, 2022 Manufacturing tech firm Renishaw said its profits had slid in the past quarter as it braces for a rise in costs and a slowdown in orders over the next three months.
UK banks return to amassing default reserves amid inflation and mortgage crunch October 26, 2022 Barclays said profits had jumped six per cent in the third quarter of the year as it became the latest lender to see performance buoyed by rising interest rates.
DX shareholder moves to oust chair over botched inquiry October 26, 2022 A major shareholder in London-listed logistics company DX Group called for its chair to be ousted today as it accused him of having “severely harmed investor perceptions” in the firm.
Start-ups look to debt after VCs ‘lost discipline’, says Silicon Valley Bank chief October 26, 2022 UK start-ups are leaning on debt to fuel their growth this year as venture capital investors are buffeted by a downturn, having “lost discipline” in a funding frenzy last year, the UK chief of Silicon Valley Bank has said.
Top firms pile pressure on governments for mandatory nature reporting October 26, 2022 Top global firms are piling pressure on heads of state to roll out mandatory nature reporting by 2030 as businesses prepare to gather for COP15 global talks on biodiversity in December.
