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Banking
Bank of England: Get ready for another two years of price increases
Andrew Bailey, the Governor of the Bank of England, refused to accept responsibility for Britain's rampant inflation.
Threadneedle street increased interest rates at their highest level since 2008. Mr Bailey refused to apologize for…
Deflating the credit bubble may affect more than banks
Another week, and another wave of concern over American regional banks. The level of panic is thankfully down, as the Federal Deposit Insurance Corporation seems to be backing up the system, by precedent if not law. The problem is …
Bank of England to increase interest rates to highest since 2008
In the wake of data released last month showing that inflation was still high, the Bank of England will raise interest rates on Thursday to their highest levels since 2008.
This would be the 12th consecutive increase by the central banks…
Sterling is near a one-year high in the dollar/pound exchange rate, and banks are bullish.
Investment banks have become more bullish about sterling, as it is trading close to an all-time high against the dollar. It also has a five-month-high against the euro. This is due to expectations that the UK's economy will perform better…
First 100% mortgages offered by UK mortgage lender since 2008 crisis
First time buyers without a deposit will be able to get a 100% mortgage from a leading lender. This is the first such offer since the financial crisis of 2008.
In the past, standard home loans that did not require a deposit were fairly…
Wall Street is subdued after the US regional banks rally loses its steam
US stocks slid on Monday, as an initial rally in regional bank stocks faded. Investors also assessed a Federal Reserve report that warned about tighter lending standards for this year.
The Nasdaq Composite gained 0.2 percent, while the…
Goldman Sachs says that the Bank of England could have to increase rates to 5% by summer.
Goldman Sachs warned that the Bank of England may be forced to increase interest rates this summer to 5%, due to Britain's struggle to reduce the highest inflation rates among advanced economies.
Threadneedle street is widely expected to…
HSBC gets $1.5 billion boost from Silicon Valley Bank’s acquisition
HSBC has recorded a $1.5 billion provisional profit on the rescue acquisition of Silicon Valley Bank, UK. The bank was purchased for £1 and there were "no nasty surprise" when it arrived.
The bank announced the gain when it reported that…
First Republic’s Failure Marks Second-Largest in US Banking History
Silicon Valley Bank ranked second in the US for just over a month. First Republic Bank a California lender that catered to wealthy customers knocked the bank off its top spot.
Second-Largest Bank Failure in US Averted as JPMorgan Concludes First Republic Deal
JPMorgan Chase is to acquire most of First Republic after US regulators orchestrated an overnight deal to shut the embattled California lender, wiping out its shareholders in the second-biggest bank failure in the country’s history.