Yahoo News Silicon Valley Bank collapse: HSBC moves to buy SVB subsidiary in the UK
After a weekend of negotiations, HSBC has agreed to acquire the UK subsidiary of Silicon Valley Bank for one pound (€1.13).
After a weekend of negotiations, HSBC has agreed to acquire the UK subsidiary of Silicon Valley Bank for one pound (€1.13).
It’s now seen as a 50-50 call on whether the Monetary Policy Committee lifts rates on Thursday
Three-month extension of energy price guarantee welcomed but key state support schemes expiring
City analysts have tipped Bank governor Andrew Bailey to prioritise fighting inflation ahead of banking sector stability.
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(Bloomberg) -- Britain’s underlying price pressures are set to diverge with those in the eurozone, with signs of cooling inflation intensifying the debate over whether the Bank of England should halt its cycle of interest rate increases.Most Read from BloombergUS Studies Ways to Insure All Bank Deposits If Crisis GrowsUBS to Buy Credit Suisse in $3.3 Billion Deal to End CrisisJPMorgan Owned the LME ‘Nickel’ That Was Actually Bags of StonesVanguard Said to Shutter Business in China, Exit Ant Vent
Andrew Bailey and Jeremy Hunt faced an unwelcome surprise on Wednesday morning.
LONDON (Reuters) -Forcing asset managers to shift clearing of their euro derivatives trades from London to the European Union would be anti-competitive, split markets and increase costs, Europe's investment funds industry body said on Tuesday. The EU's executive European Commission has proposed that asset managers and banks in the EU open an "active account" with an EU-based clearing house to shift some clearing from London Stock Exchange Group (LSEG) and ICE to Deutsche Boerse in Frankfurt to end heavy post-Brexit reliance on UK clearers.
The surprise increase in inflation will give policymakers pause for thought. Just days ago, inflation appeared to be coming down nicely and some were talking down the chances of another interest rate hike. Although economists - and the Bank of England - were expecting the consumer prices index to fall from 10.1% to 9.9%, the headline rate of inflation actually jumped to 10.4%.
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Rate hits 10.4% in February, tilting back up after recent falls
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Andrew Bailey has criticised the US government’s decision to bail out Silicon Valley Bank (SVB)’s depositors, saying the blanket guarantee increased the risk of “moral hazard” in the banking industry.
Swiss trader Mercuria Energy received spray-painted rocks instead of $36 million worth of copper it had ordered.
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Savers face losing thousands to rising inflation, despite vast improvements in the best-paying accounts.
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