Silicon Valley Bank: US bosses sued for fraud as fallout from collapse begins March 14, 2023 The parent company of Silicon Valley Bank and two of its top bosses are being sued by shareholders who have accused them of hiding the lender’s vulnerabilities to the effects of rising interest rates.
Budget: Why a high-tax country is still dealing with fraying public services March 14, 2023 Britain is on course to shoulder a tax burden that has “never been sustained before in its history” but is still grappling with fraying public services, a top economist has told City A.M. ahead of Chancellor Jeremy Hunt’s budget tomorrow. Carl Emmerson, deputy director of the Institute for Fiscal Studies (IFS), said the UK has [...]
As a new FCA chair steps up, we need a crack down on offshore firms’ lax rules March 14, 2023 Hopefully, guided by a new chair, the FCA will make progress in holding offshore firms who don't follow the rules to account, writes Sadiq Bhatti
Not so thirsty Thursday as Nightcap blames ‘targeted’ rail strikes for £1.2m earnings loss March 13, 2023 Cocktail bar operator Nightcap has estimated that 13 days of rail strikes over the last year has cost the company £1.2m. The bar company, which operates a number of venues across Clapham and central London, claimed rail strikers “deliberate targeting” of Thursdays and Saturdays, the most lucrative trading days for the hospitality sector, caused a [...]
Have US government, regulators and Federal Reserve just reignited Bitcoin bull market? March 13, 2023 Nigel Green examines how the measures taken over Silicon Valley Bank seem to have helped to boost crypto prices.
Spring budget: Back to work, childcare and post Brexit customs – what do we know so far? March 13, 2023 This Wednesday, Chancellor Jeremy Hunt will stand on the steps of No11 Downing Street – holding the famous Budget 2023 red box. Of his five predecessors, just Rishi Sunak was even in post long enough to reach this point. Political turmoil aside, his spring statement will also follow months of financial chaos, after economic shocks [...]
SVB and Silvergate bailout sees Bitcoin rally March 13, 2023 Bitcoin is up 9.4% in the last 24 hours, trading for $22,408 this morning, recovering all its losses and then some of the past week.
Gary Lineker to return as host of Match of the Day: BBC apologises for ‘confusion by grey areas’ March 13, 2023 Match Of The Day host Gary Lineker will continue as a BBC presenter after the corporation apologised for a “difficult period for staff, contributors, presenters, and most importantly, our audiences”. A host of sports presenters and pundits pulled out of BBC shows at the weekend after the former England striker was told to step back [...]
Recession kicked into long grass as UK steams ahead of Europe and US March 13, 2023 A recession hitting the UK economy is looking like an increasingly far flung prospect after yet more data today shows businesses and families are fending off the cost of living crunch. A net balance of 43 per cent of UK businesses are buoyant about the economy over the coming year, the highest level in a [...]
Arm’s New York listing is an example of London’s success being lost to competitors March 13, 2023 Cambridge-based chip designer Arm snubbed the London Stock Exchange and listed on Nasdaq. It won’t be the last tech firm we lose unless we learn to encourage continued growth, writes Nicholas Lyons.