Metro Bank: Bank of England approached UK lenders to gauge interest in troubled bank October 8, 2023 The Bank of England's Prudential Regulation Authority approached a number of big UK lenders this week to see if they had any interest in taking over British lender Metro Bank, the Financial Times reported.
De La Rue: British banknote maker lifts profit expectations as currency demand recovers October 6, 2023 British banknote maker De La Rue has bumped up its profit expectations for the first half of the year after it reported seeing signs of recovery in its currency business. The Basingstoke-based firm said it now expects adjusted operating profit to be “marginally ahead of previous guidance” given in June. Shares in the company, which [...]
FTSE 100 close: London ends week higher after US jobs growth smashes forecasts October 6, 2023 London markets opened higher this morning despite a fall in house prices for the sixth consecutive month in a row.
London house prices slump again as high interest rates pile pain on mortgage holders October 6, 2023 London house prices cratered again in September as the Bank of England’s interest rate hikes continue to pile pain on mortgage holders and weigh on the housing market. House prices in the capital have fallen 4.8 per cent over the last year, the biggest fall of any region in cash terms at an average of [...]
Bank of England will cut interest rates ‘much more quickly’ than Fed, think tank predicts October 5, 2023 Rising unemployment will force the Bank of England to cut interest rates "much more quickly" than the Federal Reserve, the Resolution Foundation predicted.
Bank of England warns banks have not learnt lessons from Truss gilts turmoil October 5, 2023 The Bank of England (BoE) said on Thursday it was disappointing that some of the banks it regulates have not tackled shortcomings in how they manage risks from customers after turmoil in UK government bond markets last September.
Ministers accused of risking green investment for ‘short-term political gain’ October 5, 2023 The government’s rowing back on green pledges is putting the future of the UK’s economy at risk for the benefit of “short-term political gain."
Metro Bank shares tumble on reports it needs £600m to shore up balance sheet October 5, 2023 Metro Bank shares tumbled by more than 20 per cent this morning after reports that the challenger is in talks to raise hundreds of millions of pounds in an effort to shore up its balance sheet. Metro has reportedly hired bankers at Morgan Stanley and Moelis to raise £600m in extra financing, which includes £250m [...]
Golfers can play for brand value at Olympics and Ryder Cup, not a pay cheque October 5, 2023 This week’s Ed Warner column looks at the Patrick Cantlay “pay or no pay” discussion and how Olympians can only dream of being in a situation where they don’t need payment to compete at the highest level. Can those Ryder Cup golfers simply increase their brand value by rubbing shoulders with Olympians in Paris next [...]
Revolut comes one step closer to UK licence after entering deal with SoftBank October 4, 2023 Fintech Revolut has moved one step closer to securing a UK banking license, as it signed a share deal with its Japanese investor SoftBank to break down a major barrier. The Bank of England ordered Revolut to collapse its six classes of shares into one as a requirement for a full licence, the Financial Times [...]