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Banking
Climate Change Risks: EU Banks Expand Their Scenarios
According to a survey by Oliver Wyman and the Association for Financial Markets in Europe, European banks are developing their risk models in order to prepare for climate change. Some even examine the short-term implications of a warmer…
BOE Hike Seen As Certain After Inflation: Decision Guide
The Bank of England may be forced to increase interest rates again by Thursday due to the escalating inflation in Britain. This is against the backdrop of the chaos on the UK mortgage markets.
Investors and economists expect the Monetary…
Bank of England is under pressure to take more aggressive action on rate decisions
Bank of England will likely raise interest rates on Thursday by a quarter-point to 4.75 percent, as calls to take more aggressive action against persistently high inflation increase.
According to data released on Wednesday that was worse…
Saga’s insurance arm is lagging behind in terms of demand for cruises, but the demand for them…
Robust demand for cruises at Saga have helped the group focused on the over-50s to offset tougher conditions at its insurance division.
Euan Sutherland, Saga's chief executive, said its ocean cruises had enjoyed "strong bookings", with…
US corporate borrowing plans hit by slowdown in the junk-rated loan markets
The slowdown on Wall Street's $1.4tn junk-rated loan market is affecting corporate America, forcing a growing number of companies to either pay more or abandon their borrowing plans.
The market for CLOs (collateralised loan obligations),…
Will a Bank of England interest rate increase be enough to calm UK market?
The Bank of England will raise its benchmark rate to 4.75 percent on Thursday to combat an inflation issue that has grown more challenging and persistent in the last month.
Since the Monetary Policy Committee of the central bank began to…
Bank of England Governor Bailey faces pressure to announce yet another rate hike
Threadneedle street's calls for drastic measures risk over-tightening an already fragile economy
Andrew Bailey will not be able to dress up as a white knight in Threadneedle Street in the future, but he has been given the role…
Bank of England warns corporate pension deal makers against relying on reinsurers
The Bank of England warned on Thursday that depending on reinsurers for help in meeting a surge of demand for corporate pensions deals could create a "systemic vulnerabilities" for the industry and restrain domestic investment.
The rise…
Mortgage rates to rise for two of UK’s largest lenders
NatWest and Nationwide raise borrowing costs, increasing pressure on the government to control the cost of living crisis .NatWest and Nationwide, two of the UK’s largest mortgage lenders, announced on Thursday they were increasing rates,…
Revolut Investor cuts book value by 40%
Molten Ventures, a venture capital firm, has reduced the value of its stakes in Revolut. It is the second investor who has done so. The UK fintech company is awaiting a decision from regulators on whether it will be granted a banking…
The dollar-pound exchange rate has reached a 14-month high as the market is betting on higher UK…
The pound has reached its highest level versus the dollar since April 20, 22. This is due to strong economic data which has increased pressure on the Bank of England.
The pound rose by up to 0.8 percent on Wednesday, to $1.2698. This was…
Rishi Sunak is under pressure after HSBC increases mortgage rates a second time this week
HSBC has raised mortgage rates for a second time in a row. Other lenders are expected to follow suit, increasing the financial pressures on UK households.
Brokers warned other UK lenders will follow HSBC’s decision made on Wednesday.…
S&P 500 closes at its highest level in over a year
US stocks reached their highest level since more than a month on Monday. Investors added to the rally fueled by large tech companies.
S&P 500, the blue-chip index, rose 0.9 percent to close at 4,338.93. This is its highest level…
Goldman Sachs CEOs and Morgan Stanley CEOs See ‘Green Shoots’ on Wall Street
Goldman Sachs' and Morgan Stanley's chief executives said that they saw "green shoots" within their struggling investment banking business, which had implemented mass dismissals due to higher interest rates.
Wall Street firms have been…
After selling £170 million, Advertising Group is expanding.
Private equity investors have purchased an advertising group founded by Roger Parry (YouGov Chairman) for approximately PS170 Million.
LDC, the private-equity arm of Lloyds Banking Group is selling a major stake in MSQ Partners. One…
Goldman Sachs’ bad loans are a result of Elon Musk refusing to pay rent
Goldman Sachs has been hit by an increase in commercial real estate loans that are past due in the first quarter. This was partly caused by Elon Musk refusing to pay Twitter's rental.
Goldman's licensed bank entity filed reports with the…
UBS sets ‘red lines’ for Credit Suisse staff after takeover completion
UBS will impose strict restrictions on Credit Suisse's bankers, including a prohibition on new clients coming from high-risk nations and complex financial products. This is as the company prepares to buy its struggling rival on Monday.…
HSBC cancels all new mortgages after a flood of demand
Banks withdraw mortgages amid rush to lock in deals at rising rates
HSBC pulled all its mortgages following a rush by customers to lock in deals before rates increase.
Bank withdrew on Thursday all residential, business and…