Tech philanthropy looking to bring about world peace May 12, 2023 Bundeep Singh Rangar discusses his love of technology and crypto, and how it intertwines with his beliefs in human kindness.
FTSE 100 live: London’s premier index closes the week up after Beazley bump and UK economy growth May 12, 2023 The FTSE 100 has ended a mixed week on the up after a bump for Lloyds of London insurer Beazley this morning and growth in the UK economy. London’s flagship index ended the week with a gain of around 0.63 per cent after ONS figures this morning showed GDP edged 0.1 per cent higher in [...]
The NHS crisis has a long tail, private GPs should become the norm for firms May 12, 2023 NHS waiting lists are not going to disappear anytime soon, but the health of the workforce is crucial to the economy. Businesses should make private GPs and other healthcare a standard offering, writes Brett Hill.
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 – [...]
Despite bank collapses, US lenders report record $80bn in quarterly profits May 10, 2023 Profits at US banks in the first quarter reached record levels, rising by a third to a total of $80bn, even as the sector dealt with the fallout of the Silicon Valley Bank’s (SVB) collapse. The banking turmoil was in fact a significant contributor to the profit boost. Half of the increase came from First [...]
Universal Peace Gala opens on Saturday with Tibetan Lama who believes Bitcoin and blockchain are the keys to world harmony May 10, 2023 The Universal Peace Gala will take place on Saturday May 13 from 6pm at the Beverly Wilshire in Beverly Hills, California.
US regional banks slip again as PacWest leads peers lower following Fed’s lending survey May 9, 2023 US regional banks continued their slide on Tuesday with Western Alliance dragging down a number of its peers the day after the Fed’s latest lending survey. LA-based lender PacWest was trading nearly seven per cent lower while Western Alliance was nearly five per cent lower. Fellow struggling regional lender Comerica was 3.6 per cent down. [...]
Direct Line faces ‘bumpy road ahead’ as motor claims soar May 9, 2023 Direct Line warned that rising motor claims would put pressure on earnings today, as it published its first quarter results. The company reported a 9.7 per cent rise in first-quarter underlying gross written premiums to £805.7m. The insurer warned its motor segment would continue to “put pressure” on earnings, as damage related claims tick higher [...]
Why you should never, ever bet against UK house prices May 9, 2023 Remember the start of the year? “UK house prices have gone into sharp reverse over recent months. And we expect that elevated mortgage rates will result in at least a 12 per cent price correction,” so said Capital Economics at the time. This is from building society Nationwide last week: “While annual house price growth [...]
Warren Buffett: “Very poor” handling of bank failures in recent weeks May 7, 2023 Warren Buffett on Saturday criticized the handling of recent tumult in the banking sector and said a debt ceiling showdown could bring “turmoil” to the financial system, even as he offered a vote of confidence in the United States and his conglomerate Berkshire Hathaway Inc. Speaking at Berkshire’s annual shareholder meeting, Buffett criticized how politicians, regulators and [...]