Banking stocks on course for another good day as fears of global crisis recede: Most in green… apart from UBS March 22, 2023 European banking stocks were on course for another strong morning on Wednesday after a rollercoaster couple of days for the sector induced by Credit Suisse’s buy-out by UBS. Most European banks were in the green on Wednesday: SocGen was up 2.5 per cent, BNP Paribas 1.5 per cent, Deutsche Bank 1.2 per cent and Santander [...]
Flare illuminating the utility issues of blockchain March 22, 2023 Hugo Philion, CEO and co-founder of Flare, discusses the limitations of blockchain and how a flood of data may be the solution.
UK taxpayers face a £56bn bill if sewage and water systems are to be fixed, House of Lords committee warns March 22, 2023 It will potentially cost £56bn over multiple decades to update the UK’s creaking and outdated water and sewerage systems.
Ministers shelve plans to lift state pension age due to fear over backlash from middle-aged voters March 22, 2023 Ministers have reportedly shelved plans to raise the UK’s state pension age, over concerns of a backlash from middle-aged voters in the run-up to the next general election. The UK’s state pension age is currently set to rise from 66 to 68 after 2044. The UK government had, however, planned to bring this date [...]
Partygate: Johnson ally admits ‘bring your own booze’ email invite was ‘totally inappropriate’ March 22, 2023 An email inviting No10 staff to “socially distanced drinks” during the Covid-19 pandemic was “totally inappropriate” in its wording, the senior official who sent it has admitted. Martin Reynolds, then Boris Johnson’s principal private secretary, emailed staff inviting them to come for drinks in the No10 garden during the “lovely weather” on May 20, 2020. [...]
Why HAVE savers missed out on interest rate rises? MPs accuse banks of ‘profiting’ in failing to pass on savings hike March 22, 2023 MPs suggested banks were earning “disproportionate profits” by failing to pass on interest rates rises to savings accounts. In a letter to the Financial Conduct Authority (FCA), the Treasury Committee also asked whether banks were earning “disproportionate profits” by “increasing rates on mortgages far quicker than rates on savings products”. Earlier this month, the chair [...]
UK inflation shock was bad for the Bank of England – and disastrous for families March 22, 2023 These were not good inflation numbers for the Bank of England. They were even worse for families. Nearly everyone has been taken aback by the Office for National Statistics calculating the annual rate of headline inflation (the consumer price index) snapped a three month falling streak to climb to 10.4 per cent last month. That [...]
Who’s going loco over Credit Suisse’s cocos? Here are the losers of the AT1 bond write-off March 22, 2023 Bond markets were sent into a spin across Europe this week after the move from Swiss regulator Finma to wipe out $17bn of Credit Suisse’s AT1, or coco, bonds, as part of a rescue deal from its rival UBS.
Bitcoin back above $28k on important day for markets March 22, 2023 Bitcoin’s lack of robust support at $28k seems to have disappeared as the flagship crypto is trading strongly above $28,200 this morning.
The imperfect tonic: Fever-Tree to raise prices amid soaring cost inflation March 22, 2023 Up market tonic maker Fever-Tree has revealed plans to hike its prices, as it continues to navigate a surge in production costs. The company said made a loss in earnings for the year with revenues down 0.2 per cent to £116.2m from £118.3m the prior year. The London-listed adult drinks company said it felt the financial [...]
