Surge in loan-loss reserves poison Santander profits July 28, 2022 Funds set aside to deal with an expected jump in loan defaults caused by borrowers’ being squeezed by a historic inflation surge has whacked Spanish bank Santander’s profits. The lender, which has a big presence in the UK, banked over €500m (£420m) in loan-loss reserves over the three months to June, up 25 per cent [...]
High profile scandals saw UK’s audit watchdog hand out record £46.5m in fines last year July 28, 2022 The UK’s Financial Reporting Council (FRC) issued a record £46.5m in fines over the past year, after the audit watchdog handed out a series of huge fines to Britain’s top accounting firms in the wake of a series of high-profile accounting scandals. The value of fines issued by the UK’s Financial Reporting Council (FRC) [...]
Exclusive: Energy boss slams Liz Truss’ plans to suspend green levies as ‘nonsensical’ July 28, 2022 Good Energy's chief executive Nigel Pocklington has slammed Liz Truss' proposal to impose a moratorium on green levies.
Travellers warned of two-hour queues at Dover ahead of ‘extremely busy’ weekend July 28, 2022 Travellers were warned of hour-long bottlenecks at Dover as thousands head to the port ahead of an “extremely busy” weekend. Ferry operators told customers to allow plenty of time for check-in, urging passengers to have all travel documents ready following last weekend’s “48 hours of hell.” “Please allow 120 minutes to complete Border control and [...]
Crypto market faces more sell-offs and crashes with stablecoins particularly vulnerable, IMF says July 28, 2022 Crypto could be further battered and experience more sell-offs and collapses, esepcially stablecoins, as the crypto crash hits the market, the International Monetary Fund said. “We could see further selloffs, both in crypto assets and in risky asset markets, like equities,” Tobias Adrian, Director of Monetary and Capital Markets for the IMF, said in an [...]
BT makes revenue growth comeback thanks to consumer price hikes July 28, 2022 BT has met market expectations, with a one per cent climb in revenue to £5.1bn in the first quarter as the telcos firm hikes prices and pushes Openreach networks.
Crypto markets pick up after US central bank chair suggests major rate rises may slow down July 28, 2022 The crypto markets have picked up again this morning, with the price of bitcoin climbing back up to just below $23k.
Schroders assets jump as inflows top £8.4bn July 28, 2022 Asset manager Schroders notched a jump in the value of its managed assets in the first half of the year as strong inflows helped buck sharp falls in equity and bond markets.
Energy bosses must be wise to the coming tide of public anger July 28, 2022 ONE OF a City chief exec’s key jobs is horizon scanning. For those in the energy sector, should they be finding their forecasting glasses a little fogged up, we’ll help: you’re about to become the least popular companies in Britain. It is hard to over-egg how painful energy bills could become this winter, with predictions [...]
Crypto prices surge after Fed hikes interest rates July 28, 2022 Cryptocurrencies prices climbed after the US Federal Reserve raised interest rates by 75 basis points for the consecutive second month to tackle high inflation. Bitcoin jumped 7.5 per cent to trade at $22,965.5 today while Ether soared 11.14 per cent to trade at $1,624.9 after being pummelled by the crypto crash and investor uncertainty. The [...]
