Cork is the drinking-man’s city break a short hop from London March 21, 2023 There’s a video doing the rounds of Cillian Murphy being asked where’s the best city to go drinking. Without hesitating he replies ‘Cork’. Filled with rickety old pubs that seem to grow organically from the city’s architecture, like some alcoholic Hogwarts, it’s ideal for a weekend of enthusiastic bar-hopping. Getting there With Cork’s airport a [...]
Credit Suisse failed time and time again to learn the importance of risk management March 21, 2023 The Credit Suisse saga should provide a warning for the whole sector: to be a good bank, you need patience and prudence more than sheer ambition and appetite for risk, writes Eliot Wilson
FTSE 100 closes up as investors hope Credit Suisse deal will contain banking crisis March 20, 2023 Markets managed to shrug off turmoil in the banking sector to finish the day higher despite huge turmoil in the financial sector. The FTSE 100 closed 0.93 per cent higher at 7,403.85 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.13 per cent [...]
Explainer: The DUP won’t back Rishi’s Brexit deal – but does it matter? March 20, 2023 The DUP said today that it will vote against Rishi Sunak’s Windsor Framework Brexit plans. Party leader Sir Jeffrey Donaldson is concerned about the so-called ‘Stormont brake’, which allows the assembly to block new incoming rules from Brussels from applying in Northern Ireland. “Whilst representing real progress, the ‘brake’ does not deal with the fundamental [...]
Gas prices slide ahead of spring as banking chaos sparks recession fears March 20, 2023 Gas prices have dropped in this afternoon's trading as warmer weather and economic turmoil eased expectations of demand.
Bank of England confirms AT1 bondholders priority over shareholders as it proclaims UK banks ‘safe and sound’ March 20, 2023 The Bank of England confirmed the pecking order in which investors would be paid out if a bank went bust as it sought to reassure markets about the stability of the UK’s financial system. In a statement released today, the UK central bank confirmed that alternative tier 1 (AT1) bondholders would be prioritised over shareholders [...]
Boris Johnson prepares for showdown with MPs over partygate fib claims as defence to be published March 20, 2023 Boris Johnson’s defence against claims he lied to Parliament over the partygate scandal could be published on Monday as he prepares for a showdown with MPs. The Privileges Committee is expected to publish the lengthy submission from Mr Johnson’s barrister Lord Pannick KC before the former prime minister gives evidence on Wednesday in a session [...]
Rishi Sunak’s cool head after the collapse of SVB was a political windfall March 20, 2023 Rishi Sunak’s handling of the collapse of Silicon Valley Bank was what one actually wants in a government: swift, effective, unshowy competence, writes Eliot Wilson
Allies fear Boris Johnson walking into a partygate ‘witch hunt’ – with a comeback at risk March 19, 2023 Former prime minister Boris Johnson could face a “witch hunt” before MPs at a grilling over his involvement in the lockdown-busting partygate scandal, a key ally has warned. Lord Greenhalgh, who was a deputy mayor during Johnson’s tenure at City Hall, said he was “concerned it will be a witch hunt” and hoped he would [...]
American candy stores or retail hub? What might be next for Oxford Street March 19, 2023 It has been three years since the UK was plunged into its first-ever full scale lockdown – forcing the majority of stores in London’s West End to temporarily cease trading and arguably altering the state of physical retail forever. The pandemic forced once seemingly indestructible retailers such as Debenhams, Topshop, and Gap off Oxford Street, [...]