Interest rate boon for UK banks coming to an end despite BoE’s 25 basis point hike May 11, 2023 Banks have been revelling in the BoE’s sharp rate hikes, but today’s 25 basis point hike – which brings interest rates to 4.5 per cent – is unlikely to improve banks’ bottom line significantly, analysts said. Increasing competition and regulatory pressure means banks will likely have to pass on more of the rate hike – [...]
Bank of England ditches any threat of recession in biggest GDP upgrade since 1997 independence May 11, 2023 Any threat of a recession in Britain this year and over the medium term has today been scrapped by the Bank of England in what was the largest upgrade to the central bank’s GDP projections since it was made independent in 1997. The UK economy is now tipped to broadly flatline this year and start [...]
‘Come take a train journey with me’: Union boss challenges Sunak’s private jet-setting May 11, 2023 TSSA President Marios Alexandrou took aim at Rishi Sunak’s rail policy and private jet-setting this morning, inviting the Prime Minister to “come take a train journey with me” amid continued industrial action. According to Alexandrou, Sunak is “more familiar with the interior of an RAF Chinook than Waterloo in rush hour”. The PM has come [...]
Softbank’s Vision Funds book record £31bn loss – but Alibaba sale helps cushion the blow May 11, 2023 Japanese investment giant Softbank continued to shed cash from its storied Vision Funds in the three months to March even as a slew of asset sales and tech rebound helped narrow losses across the firm.
Olympia London owners to inject £5.4m into Shepherds Bush Market May 11, 2023 The private real estate firm behind Olympia London has submitted plans to inject £5.4m into Shepherds Bush Market and the Old Laundry Yard as it looks to create a life science incubator as well as affordable homes within the region. Yoo Capital, which has invested £2.5bn into central London over the past decade, said a [...]
Crypto investors feeling the ups and downs as inflation figures set the tone May 11, 2023 The price of Bitcoin is settling around $27.4K this morning, in the red by a marginal 0.62%. Ethereum at $1.822 is down by 1.5%.
Nissan sees profit rise but anticipates continuation of ‘harsh’ business environment May 11, 2023 Nissan said that it expects 38 per cent rise in operating profits this year, as it continues a strong resurgence from the lows of the global semiconductor shortage and China shutdown. The Japanese automaker beat analysts expectations, raising profit expectations for the coming year to 520bn yen (£3.07bn) on the back of a stronger sales [...]
John Wood Group’s revenues rise as Apollo deal deadline looms May 11, 2023 John Wood Group said on Thursday its quarterly revenue rose on the back of a steady demand across its business units.
High power prices boost Engie earnings in first quarter May 11, 2023 French energy company Engie on Thursday reported a rise in first-quarter earnings, buoyed by high European power prices.
BNP Paribas stops financing new oil and gas fields in green clampdown May 11, 2023 BNP Paribas has announced it will no longer provide any financing dedicated to new oil and gas fields as it shifts to a net zero world.
