Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
Gold price tops $2,000 and Bitcoin gets a bump as investors scramble for safety after Credit Suisse rescue March 20, 2023 Gold prices have climbed near record highs and topped $2000 for the first time in over a year this morning as investors scramble for steady ground following UBS’s rescue of Swiss rival Credit Suisse.
Gold hits record highs as investors scramble for safety in week of bank turmoil March 20, 2023 Gold prices reached record highs in the UK last week as investors scrambled for safety in the wake of Silicon Valley Bank’s collapse and an ensuing banking crisis on both sides of the atlantic.
A game of Bitcoin chess seems to be playing out – but who’s controlling the pieces? March 17, 2023 Susie Violet Ward wonders if a combination of events currently affecting Bitcoin are somehow connected.
Freefall: Credit Suisse potentially ‘next shoe to fall’ as bank contagion fears spread across Europe March 15, 2023 Shares in Credit Suisse tanked today after one of its main shareholders ruled out providing new funding to the embattled lender prompting a major sell-off in the wider European banking sector. Credit Suisse shares traded as much as 30 per cent down earlier on Wednesday, and are now trading around 23 per cent lower. Banking [...]
FTSE 100 close: Global banking rout weighs on index as budget does little to lift sentiment March 15, 2023 London’s FTSE 100 slumped this afternoon as the banking sector faced a major sell-off following concerns over the future of Credit Suisse. The capital’s premier index closed 3.83 per cent lower at 7,344.45 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, shed 2.63 per [...]
NatWest imposes £1,000 daily limit on Crypto spending to protect people against ‘losing life changing sums’ March 14, 2023 NatWest imposed stricter restrictions on cryptocurrency transfers as it seeks to protect its customers after £329m was lost by UK consumers last year. The bank is implementing a daily limit of £1,000 and a 30-day payment limit of £5,000 to cryptocurrency exchanges. It is implementing the rules to “help protect customers losing life changing sums [...]
Banking sell-off slows in Europe after SVB collapse as US lenders set for recovery March 14, 2023 The banking sell-off eased in Europe today while US regional banks are poised to rebound as investors continue to digest the implications of Silicon Valley Bank’s collapse. Fears of contagion sparked a brutal sell-off in Europe yesterday with the European Stoxx bank index falling 6.7 per cent. But Europe’s lenders have had a calmer day [...]
Six ways business leaders think Chancellor can fix female entrepreneurship gap March 14, 2023 A group of senior business leaders have called on the Chancellor to use tomorrow’s budget to boost female entrepreneurship – with the UK economy said to be losing out on £250bn a year thanks to a lack of women starting and scaling businesses. Though women in the UK established over 150,000 new companies in 2022, [...]
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 [...]
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 [...]