First Republic: US stocks rally after 11 banks including JP Morgan, Citi and Goldman stump up $30bn in rescue effort March 17, 2023 US stocks rallied on Thursday after a group of big banks offered a lifeline to the bank that investors had zeroed in on in their hunt for the industry’s next victim. The S&P 500 jumped 1.8 per cent for its best day in nearly two months after 11 of the biggest banks said they would [...]
Rolls-Royce wins funding to develop nuclear reactor for Moon exploration March 17, 2023 Rolls-Royce has received £2.9m funding from the UK Space Agency to develop a nuclear reactor for a Moon base.
Ofgem smacks supplier with £2.1m mega-fine for overcharging customers March 17, 2023 Ofgem has slapped United Gas & Power with a hefty £2.1m fine after determining it had breached its licence conditions.
Royal Mail referred to Ofcom after claims boss ‘misled’ MPs over tracking of staff March 17, 2023 MPs have urged regulator Ofcom to launch an enforcement investigation into Royal Mail after claiming they were “misled” by the CEO’s evidence over the tracking of staff in parliament last month. Concerns over digitally tracking productivity, “systemically” failing in its legal duty to deliver letters six days a week and issues of sick pay being [...]
Exclusive: Home REIT investors push for sweeping tenant clear-out in rescue plan March 17, 2023 Home REIT investors are pushing for a clear-out of its tenant base as part of rescue plans drawn up by the firm vying to become its new investment manager, City A.M. has learned.
Ten years of tightened control over London’s funding has stunted our growth March 17, 2023 For years we’ve been promised more devolution, but none of that has translated into more control over how we use money in London and it’s curtailing our growth, writes Paul Honeyben
Why childcare reforms probably won’t get parents back to work March 17, 2023 Jeremy Hunt and Rishi Sunak are betting big on childcare reforms to boost the economy, but many mothers will still choose to stay at home, writes Len Shackleton.
Joining the Pacific trade bloc will free us from our reliance on the European Union and China March 17, 2023 Rishi Sunak is pursuing a deal with Pacific countries to allow the UK to join the CPTPP, and reduce its reliance on trading with the EU and China, writes Jason Reed.
FTSE 100 close: Credit Suisse share price shoots up 30 per cent as HSBC and Lloyds climb in London March 16, 2023 London’s FTSE 100 today partly clawed back yesterday’s losses that saw it clock its worst day in over a year as the index was ensnared by global markets sweating over the health of the European banking system. The capital’s premier index jumped 0.89 per cent to 7,410.04 points, while the domestically-focused mid-cap FTSE 250 index, [...]
‘No trade off between price stability and financial stability,’ ECB president Christine Lagarde says after rate rise March 16, 2023 The recovery in European banking stocks slowed slightly on Thursday afternoon as the European Central Bank (ECB) stuck to its guns and raised interest rates by 50 basis points. With the meeting taking place amidst a nervous backdrop in the banking sector, ECB President Christine Lagarde said “there is no trade off between price stability [...]
