Credit Suisse warns of $2.2bn loss in third quarter as thousands of staff exit bank Banking Credit Suisse has warned that it may face a $2.2bn loss in the third quarter as it attempts to deal with legacy loans and problematic parts of its business.
Solvency II: When will the post-Brexit investment bonanza arrive? Solvency II When Rishi Sunak pointed to a once obscure piece of prudential regulation during a leadership debate last year, it felt to many in the City like a watershed moment.
Mortgage and remortgage approvals fall as higher interest rates hits property market Mortgages New mortgage approvals fell to the lowest level in six months while approvals for remortgaging plummeted as rising interest rates dented the mortgage market.
FTSE 100 close: London markets rise while pound rebounds after GDP revision September 29, 2023 London markets closed the week with a spring in their step as revisions to UK GDP figures were enough to send equities higher while the pound also strengthened.
UK recovery from Covid pandemic stronger than expected, ONS figures show September 29, 2023 The UK economy grew slightly faster in the first quarter of this year than previously expected meaning it is now 1.8 per cent larger than it was pre-pandemic.
Severn Trent shares rise after firm announces plans to invest nearly £13bn in bid to cut leaks and storm overflows September 29, 2023 Severn Trent is planning to invest £12.9bn between 2025 and 2030 as the water company seeks to set an example to a tarnished industry.
Current parliament will mark permanent shift to higher tax economy, says IFS September 29, 2023 The current parliament marks a "decisive and permanent shift" to a higher-tax economy, experts at the Institute for Fiscal Studies said.
Bank of England seeks more ammunition to deal with financial instability after LDI crisis September 28, 2023 The Bank of England is in the process of designing lending tools that allow it to lend directly to insurance firms and pension funds after the near-death experience of the LDI crisis in 2022.
Bank ring-fencing reforms to come into force in first half of 2024 September 28, 2023 The Treasury has confirmed its plans to reform the ring-fencing regime with hopes that the new regulations will go live in the first half of next year.
FTSE 100 close: London’s bluechip index climbs into green as oil continues upward march to $100 September 28, 2023 BP and Shell both recorded gains as oil prices climbed to around $97.
