As Credit Suisse’s largest shareholder rules out injecting additional funds into the troubled lender, concerns over the banking sector have deepened, leading to a decline in the stock markets.
NatWest bank profits surge a third to £5.1bn
NatWest’s profits increased by over a third, reaching £5.1bn in the previous year due to the bank’s intensified mortgage lending and higher income from increased interest rates.
Euro to outperform pound this year, says Morgan Stanley
According to investment bank Morgan Stanley, the euro is expected to perform better than the pound this year due to a key economic indicator suggesting that the European continent will
FTSE 100 reaches new record high as Centrica shares jump
The FTSE 100 achieved a new record high with the help of positive corporate earnings from Centrica and Standard Chartered, while higher commodity prices buoyed miners.
The FTSE 100 slips after poor Barclays results
Barclays’ fall in yearly profit caused shares to fall, resulting in the FTSE 100 edging lower. However, the index’s losses were partially offset by a drop in the pound, as
The three stocks to sell as interest rates rise
The Bank of England raised interest rates by 0.5% to 4pc. This is the highest rate since the financial crisis.
The UK Treasury is considering a plan for digital pound
MPs have been told by the Treasury’s economic secretary that the government is looking at introducing a digital pound.
Sam Bankman-Fried, founder of FTX, is arrested in the Bahamas
According to the Bahamas attorney general, Sam Bankman-Fried, former chief executive of FTX, was arrested.
FTX is accused of “fraud and dishonesty” The US government has requested an independent investigation
The US government has requested an independent investigation into FTX’s bankruptcy to investigate fraud, dishonesty, and incompetence claims at the failing cryptocurrency exchange.
Here’s what happened in the city of London this week
Hedge funds seek to lockdown new employees, while banks scoff at the bonus cap.
Paris surpasses London to become Europe’s biggest stock market
Paris leads despite British stocks being hit by recession fears, mini-Budget backlash and worries about Paris