[ad_1] Retail sales rose by more than expected last month boosted by strong sales in discount department stores. Economists had predicted a 0.2pc rise but this was blown out of…
Tag: global economy
More banks will fail as interest rates rise, warns L&G chief – live updates
[ad_1] The Bank of England faces a “difficult balancing act” as it makes its next decision on interest rates at lunchtime, according to analysts. Its Monetary Policy Committee is likely…
Inflation rises unexpectedly as rationing pushes up food prices – latest updates
[ad_1] Inflation has increased to 10.4pc, handing a blow to the Bank of England ahead of its decision on the next move for interest rates tomorrow. Policymakers have faced calls…
‘Contagious bank runs’ to blame for current turmoil, says US Treasury Secretary
[ad_1] Public sector net borrowing in February stood at £16.7bn in February – a record number for the month. It was £9.7bn more than the same month last year and…
Oil and Asian markets tumble after Credit Suisse takeover by UBS – latest updates
[ad_1] Shares in Shanghai, Tokyo and Hong Kong declined after Swiss authorities arranged the takeover of troubled Credit Suisse. Swiss authorities on Sunday announced UBS would acquire its smaller rival…
Lagarde vows to protect banking system from turmoil after $54bn lifeline for Credit Suisse
[ad_1] Christine Lagarde has said the European Central Bank “stands ready” to provide emergency support to eurozone lenders after Credit Suisse was forced to seek help. Ms Lagarde said the…
Credit Suisse sued by shareholders amid banking turmoil – live updates
[ad_1] Credit Suisse is being sued by its shareholders over its recent troubles as the world banking system remains in turmoil. The Swiss lender has been accused of making “materially…
Energy support extended ahead of Budget to spare households from £3,280 bills – live updates
[ad_1] Household energy bills will remain at £2,500 a year on average from April after the Government extended its Energy Price Guarantee. The scheme had been due to rise to…
Entire US banking system downgraded after Silicon Valley Bank chaos
[ad_1] The parent company and top executives of Silicon Valley Bank have been sued by shareholders of the collapsed lender, which has caused global market turmoil. More than $465bn has…
First Republic shares crash after Silicon Valley Bank collapse – latest updates
[ad_1] It has already been a frantic start to the week, with HSBC sealing a deal to take on the collapsed Silicon Valley Bank after overnight talks with ministers and…