Curious times as fragile banks and ‘the Jim Cramer effect’ allow Bitcoin to shine March 17, 2023 Jason Deane raises concern over the state of US banks and curious coincidences that are driving the price of Bitcoin upwards.
First Republic: US stocks rally after 11 banks including JP Morgan, Citi and Goldman stump up $30bn in rescue effort March 17, 2023 US stocks rallied on Thursday after a group of big banks offered a lifeline to the bank that investors had zeroed in on in their hunt for the industry’s next victim. The S&P 500 jumped 1.8 per cent for its best day in nearly two months after 11 of the biggest banks said they would [...]
Why childcare reforms probably won’t get parents back to work March 17, 2023 Jeremy Hunt and Rishi Sunak are betting big on childcare reforms to boost the economy, but many mothers will still choose to stay at home, writes Len Shackleton.
Credit Suisse crisis: What’s going on and what will happen next? March 16, 2023 Credit Suisse was once one of the world’s largest and most respected financial institutions but this week its shares have been on a downward spiral. Although the Swiss bank had been caught up in market speculation over the health of the global financial system it has been beset with problems over the last few years [...]
Credit Suisse shares rebound following £44bn support from Swiss central bank as top shareholder slams ‘unwarranted’ sell off March 16, 2023 Credit Suisse’s shares rebounded over 20 per cent on Thursday morning as markets reacted positively to the embattled lender’s announcement that it will tap a CHF50bn (£44bn) liquidity line from the Swiss Central Bank. Credit Suisse’s shares jumped over 22 per cent in morning trading. The cost of insuring company bonds against default also dropped [...]
Lineker row offers the BBC a chance to reflect on how it does sport March 16, 2023 National treasuredom isn’t codified. It is a status that creeps up on individuals, usually as they enter their twilight years. It does not reflect universal approbation, but certainly requires dissenters to be in a dwindling minority. Gary Lineker is clearly too divisive a figure to be considered a national treasure just yet, but the past [...]
Credit Suisse crisis: Swiss lender taps central bank for emergency £35bn loan backstop March 16, 2023 CREDIT SUISSE overnight announced it would take advantage of a 50bn franc facility offered by the Swiss National Bank after a day in which its stock price sank by 25 per cent. The embattled Swiss lender’s tumble was triggered yesterday morning by comments from its largest shareholder, Saudi National Bank, that it would not inject [...]
World’s top insurers to face aircraft leasers in High Court ‘mega trial’ over planes seized by Russia March 15, 2023 Insurance giants Lloyd’s, AIG and Fidelis are set to face a ‘mega trial’ in London’s High Court over their refusal to pay out billions in insurance claims to aircraft leasers that had their planes seized by President Vladimir Putin. A High Court judge has ruled claims brought forward by an array of the world’s biggest [...]
Budget: Jeremy Hunt doesn’t want rabbits in hats, he wants all of us back to work March 15, 2023 Jeremy Hunt will spend more than £2.5m per new worker in the workforce through pension and childcare policies in five years time.
Budget: OBR says UK to avoid recession and is on course to grow every year after short blip in boost for Jeremy Hunt March 15, 2023 Britain will avoid a much-tipped recession this year and will grow every year until 2027 after a short blip, a massive reversal from economists warning of the longest contraction in a century just a few months ago, the country’s spending watchdog said today. UK GDP is on course to suffer a mild slump in 2023 [...]