Budget: Hunt considering pension changes to encourage over 50s back to work March 14, 2023 The Chancellor is understood to be looking at increasing the pension lifetime allowance (LTA) in a move that is being interpreted as attempting to reverse the trend of early retirements. The PA news agency understands Jeremy Hunt is considering allowing workers to put more money into their pension pot before being taxed as part of [...]
Banks and insurers may not be ‘sufficiently capitalised’ for future climate-related losses, Bank of England reports March 13, 2023 The Bank of England said there was “uncertainty” over whether banks and insurers are “sufficiently capitalised” to deal with climate-related risks, but suggested there was not enough justification to increase their capital requirements at the moment. In a report published today, the Bank said climate risks create a challenge for regulators as the uncertainty surrounding [...]
FTSE 100 close: Silicon Valley Bank collapse drags London index into red despite HSBC sale March 13, 2023 London’s FTSE 100 was dragged down into a global market sell off today driven by fears over how far the effects of the collapse of tech-focused Silicon Valley Bank could ricochet through the financial system. The capital’s premier index slid more than two per cent to close at 7,548.64 points, while the domestically-focused mid-cap FTSE [...]
Ukraine war: Top UN officials host Russian envoys in bid to extend grain export deal March 13, 2023 Senior UN officials have hosted Russian envoys in Geneva in a bid to extend an export agreement amid Moscow’s invasion of Ukraine and to prevent a potential new spike in world food prices. Despite being at war, Ukraine and Russia struck a deal last July that allows Ukraine – one of the world’s key breadbaskets [...]
Leading stablecoins lose their peg and DEXs register record high volume after $42 billion SVB bank run March 13, 2023 Francisco Memoria of CryptoCompare walks us through the news narratives that have driven the ups and downs of Bitcoin over the last week.
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.
Silicon Valley Bank triggers rout as HSBC, Lloyds and Natwest shares tumble March 13, 2023 Bank stocks slumped on both sides of the Atlantic today as the fall out of the Silicon Valley Bank crisis spooked investors. The sector has been plunged into turmoil since Friday as the full scale of the troubles at the start-up and venture capital focused lender became clear. American bank First Republic was among the [...]
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.
Phoenix: Insurer hikes dividend after volatile markets hit investments and share price March 13, 2023 British insurer Phoenix Group today posted a £1.23bn loss as volatile markets hit the value of the insurance company’s investment portfolio. Shares in the FTSE 100 company fell sharply on the news as Phoenix pointed to the “challenging economic backdrop” after noting it generated 12.5 per cent less cash than in 2021 The insurer, however, [...]
Direct Line shares crash as winter cold snap and inflation leave its results ‘as ugly as they can be’ March 13, 2023 Direct Line today posted a £45m loss for the year 2022 as the insurer suffered a hit from soaring inflation, extreme weather, and market volatility, in what analysts described as one of the “worst years” in the Bromley firm’s history. Shares in Direct Line fell by 5.79 per cent on the news, as the insurer [...]