Warren Buffett: “Very poor” handling of bank failures in recent weeks May 7, 2023 Warren Buffett on Saturday criticized the handling of recent tumult in the banking sector and said a debt ceiling showdown could bring “turmoil” to the financial system, even as he offered a vote of confidence in the United States and his conglomerate Berkshire Hathaway Inc. Speaking at Berkshire’s annual shareholder meeting, Buffett criticized how politicians, regulators and [...]
Euro rate hikes: Not done yet, says member of the governing council May 7, 2023 The European Central Bank’s interest rate hikes are starting to have an effect, but more will be needed to contain inflation, Dutch Central Bank President Klaas Knot said on Sunday. Knot, who is also on the ECB’s governing council and is known as a hawk, said he had agreed with the ECB decision on Thursday [...]
Coronation TV ratings: More than the Jubilee, fewer than the Queen’s funeral May 7, 2023 The King’s coronation service at Westminster Abbey was watched by more than 18 million viewers in the UK, provisional figures have shown. The lavish ceremony on Saturday which saw Charles and Camilla crowned was broadcast simultaneously on a range of channels between about 11am and 1pm, including BBC One and Two, ITV and Sky News. [...]
Cabinet minister: Ukraine War and Covid-19 to blame for local election beating May 7, 2023 Culture Secretary Lucy Frazer has blamed heavy Tory losses in the local elections on the pandemic and the Ukraine war. She also noted the Conservative Party had been in power for “a long time”. The Cabinet minister conceded that voters were “frustrated and angry”, but claimed Rishi Sunak was starting to regain the public’s trust. [...]
Asos: Will fast fashion darling see share price fly off the shelf? May 7, 2023 Online fashion giant Asos is expected to post another half-year loss and shareholders will hope for signs of improving demand from cash-strapped shoppers. It is among fast-fashion retailers to have become heavily pressurised over the past year by a brutal combination of rocketing costs, supply chain disruption and weaker consumer spending. The FTSE 250 company [...]
Pound Sterling rises to highest level in almost a year as US dollar set for second straight week of decline May 5, 2023 Sterling rose to its highest level in almost a year, as the dollar was broadly softer against other major currencies on Friday. The pound continues to recover, while the banking sector woes added to talk of U.S. rate cuts later this year, ahead of the much-anticipated monthly U.S. jobs report just after midday (GMT). The dollar [...]
Banking shares: Regulators ‘increasingly attentive’ to role of short-sellers in possible 2008 repeat May 5, 2023 U.S. federal and state officials are assessing whether “market manipulation” caused the recent volatility in banking shares, a source familiar with the matter said on Thursday, as the White House vowed to monitor “short-selling pressures on healthy banks.” Shares of regional banks resumed their slide this week after the collapse of First Republic Bank, the third [...]
FTSE 100: IAG, BP and Shell guide index to cheery morning May 5, 2023 The FTSE 100 put on gains in early trading today, up more than 0.6 per cent an hour into Friday morning. Big gainers were BA-owner IAG, up more than 4 per cent after posting positive first quarter results this morning. And oil majors BP and Shell were also both happily in the green, building off [...]
Share price taking off: BA-owner IAG reports post-Covid milestone May 5, 2023 British Airways and the wider IAG group saw positive first quarter results
Rail union RMT extends strike mandate for next six months as hospitality industry urges resolution May 5, 2023 Members of the biggest rail workers’ union have voted to renew their mandate to continue taking industrial action for the next six months in the long-running dispute over pay and conditions. The Rail, Maritime and Transport union (RMT) said there was an overwhelming vote in favour. Unions involved in disputes have to re-ballot their members [...]
