HSBC boss hopes ‘brave’ last-minute call to buy Silicon Valley Bank UK pays off April 20, 2023 HSBC’s UK boss Ian Stuart today defended the bank’s decision to buy Silicon Valley Bank UK, arguing the bank needed to be “brave”.
Gove urges Blackrock and other investors to push cladding firms to pay for clean up costs April 20, 2023 Housing Secretary Michael Gove has warned investors that the cladding companies they invest in will face “severe consequences” if the firms don’t come forward to discuss a settlement deal with the government to fix buildings cladded with unsafe materials. In a letter to Blackrock, Vanguard, Fidelity Management and Research and other investors, Gove urged them [...]
SpaceX Starship: Elon Musk owned rocket – the biggest and most powerful ever – explodes minutes after take off April 20, 2023 SpaceX’s Starship – the biggest and most powerful space rocket ever developed – has exploded minutes after blasting off. The launch, which took place from SpaceX’s Starbase in the US state of Texas, came after a stuck valve forced a launch attempt on Monday to be aborted. While Thursday’s launch saw the rocket leave the [...]
‘We need a new rulebook’ because ‘times have completely changed’, Blackrock’s Wei Li says April 20, 2023 The global economy has entered a “new regime” as a series of major changes transform the global economy, Blackrock’s global chief investment strategist said. Speaking at TheCityUK’s international conference, Wei Li said “the times have completely changed and we need a new playbook.” Li suggested the global economy is being affected by a series of [...]
Analysis: Raab on the ropes April 20, 2023 Standing by Dominic Raab will mean expending political capital on a Justice Secretary accused of breaking the rules while Labour attacks Rishi Sunak on law and order.
FCA will ‘keep its eyes’ on banks’ Q1 results for evidence of savings rate profiteering April 20, 2023 Savers are facing a rising “loyalty penalty” from high street banks, the Financial Conduct Authority (FCA) has warned. Customers banking with the UK’s big name lenders are likely to earn less competitive interest rates on their savings over time, while new savers are given more attractive offers, the City watchdog told MPs today. “Harm” from [...]
Flat packing in the USA: Ikea invests £1.7bn in stateside arm April 20, 2023 Ikea will invest €2bn (£1.7bn) into the US market, its biggest investment into a single market to date, as the home furnishings giant looks to capitalise on the current economic climate. The flat pack retailer said it plans to open eight new sites in the US alongside nine planning studios and order points, The Financial [...]
Planet Crypto: Is Kraken and Formula 1 a dream partnership, or a bit of a monster? April 20, 2023 Planet Crypto imagines how things could go in the partnership with crypto exchange Kraken and F1 giants Williams Racing.
Mulberry lifted by strong China sales as luxury handbag maker shrugs off cost of living crisis April 20, 2023 Despite a challenging macro-economic background, luxury fashion brand Mulberry has announced an “improvement” in retail revenue over the second half of the year in its trading update for the year ending 1 April 2023. The British heritage brand – known for its iconic handbags – reported that revenue was slightly ahead of last year, with [...]
Instagram to relocate staff and chief from London to New York April 20, 2023 Instagram is trimming or shifting some of its London-based staff to New York, as overhauls and layoffs continue to hit the tech sector. The photo app — owned by Meta — is asking UK-based workers to make the move after growing its London base and moving its leader, Adam Mosseri, to the UK last year. [...]
