TfL budget to cover costs but Londoners still set for fares hikes March 23, 2023 Transport for London (TfL) has said its latest budget will allow it to cover its operating costs, as fare rises continue to hit Londoners’ pockets with a four per cent rise set for next year. London’s transport network will achieve an overall operating surplus of £79m, its 2023/24 financial statement revealed, which it wants to [...]
European banks slide as concerns remain over health of financial sector following US bank sell-off March 23, 2023 European banking stocks slid again on Thursday, following a sell-off in the US on Wednesday, as investors remain nervous about the health of the financial sector. European banks were mostly in the red around midday: French banks Socgen and BNP Paribas fell 1.6 per cent, Deutsche Bank slipped 1.5 per cent while Commerzbank fell 3.1 [...]
WIN a ticket to the Crypto AM Spring Awakening event March 23, 2023 With just a week to go until the much-anticipated Crypto AM Spring Awakening event, we’re giving away 10 tickets to our exclusive gathering.
Crypto markets react following US Federal Reserve interest rate hike March 23, 2023 The price of Bitcoin dropped below $28k, trading for $27,700 this morning while Ethereum is also down around 2%, dipping below $1,800.
10 construction firms fined £60m for ‘illegally colluding’ to rig contracts including for Selfridges and 135 Bishopsgate March 23, 2023 The UK competition watchdog has fined 10 construction firms a total of almost £60 million for “illegally colluding” to rig bids for contracts. The construction firms have been punished over cartel agreements related to 19 contracts worth over £150 million on both public and private sector contracts. The Competition and Markets Authority (CMA) said the [...]
Livin’ la vida CoCo not possible in circumstances: Regulator defends AT1 wipe out in Credit Suisse merger March 23, 2023 The Swiss banking regulator defended its decision to wipe out alternative tier 1 (AT1) bondholders – also known as CoCo bonds – in the merger of UBS and Credit Suisse. In a statement put out today, Finma said Credit Suisse’s coco bonds could contractually be completely written down in a ‘viability event’, particularly if there [...]
Can Tulip Siddiq get Labour’s City plans blooming? March 23, 2023 Labour's Shadow City minister talks facing off against her opposite number and the struggle for the Square Mile.
Oil prices slide after Fed hikes interest rates for the ninth time in a row March 23, 2023 Oil prices are dipping again this morning, after the Federal Reserve hiked interest rates a further 25 basis points today.
Adios Amigo? Lender set to wind down after failing to raise £15m survival cash March 23, 2023 Controversial lender Amigo loans is set to be wound down after failing to raise cash as part of an emergency turnaround plan.
Share price down for 32Red and Platinum Gaming owner after £7.1m fine for failing gamblers March 23, 2023 Online gambling group Kindred Group’s share price slumped more than two per cent at the open this morning, after two of its major operators 32Red and Platinum Gaming were slapped with a £7.1m fine for regulation failures. The betting firm was wrapped for failures in its social responsibility duties and anti-money laundering measures, according to [...]
