Billions of pounds have been wiped off the value of big banks after a meltdown at a hedge fund. Credit Suisse and Nomura of Japan face a huge hit to their profits after bets placed by their client, Archegos Capital, turned sour. The crisis could cause major losses for British investors exposed through ISAs, pensions … Read more
Budget 2021 at a glance Here are the main points of Rishi Sunak’s Budget today: Office for Budget Responsibility (OBR) predicts economy will return to pre-Covid levels by the middle of 2022, six months earlier than previously though. OBR forecast economy will grow this year by 4 per cent, by 7.3 per cent in 2022, … Read more
Pension funds could be given green light to invest hundreds of billions of pounds in building up Britain as part of Chancellor’s Covid recovery plan By Emma Dunkley, Financial Mail On Sunday Published: 21:50 GMT, 27 February 2021 | Updated: 21:50 GMT, 27 February 2021 Pension funds could be given the green light to invest … Read more
Housing Minister Robert Jenrick was accused of a ‘betrayal of homeowners’ tonight as he confirmed they will get billions of pounds of taxpayers cash to replace dangerous cladding – but only if they live in the tallest buildings. The cabinet minister unveiled the long-awaited £5billion scheme for victims of the cladding scandal that emerged in the … Read more
Housing Minister Robert Jenrick was accused of a ‘betrayal of homeowners’ tonight as he confirmed they will get billions of pounds of taxpayers cash to replace dangerous cladding – but only if they live in the tallest buildings. The cabinet minister unveiled the long-awaited £5billion scheme for victims of the cladding scandal that emerged in the … Read more
Joe Biden freezes billions of dollars of arms sales to the Middle East including F-35s to the UAE and smart bombs for Saudi Arabia State Department says deal for 50 F-35s for the United Arab Emirates is frozen while it is reviewed along with munitions deal for Saudi Arabia Trump administration rushed through last-minute deals … Read more
Giant firms hand back billions in coronavirus loans: JCB and Westfield lead the race to repay Bank of England – and British taxpayers Half of the 14 largest loans from an official list published last June have now been repaid Those seven loans were worth £4.2billion It is understood that many smaller loans have also … Read more
A huge iceberg weighing hundreds of billions of tons is now just 30 miles away from South Georgia – threatening the habitat of millions of penguins. Iceberg A68a – which broke from the Antarctic’s Larsen C ice shelf in July 2017 – slid towards the open ocean for over two years until it hit the powerful Circumpolar … Read more
A huge iceberg weighing hundreds of billions of tons is now just 30 miles away from South Georgia – threatening the habitat of millions of penguins. Iceberg A68a – which broke from the Antarctic’s Larsen C ice shelf in July 2017 – slid towards the open ocean for over two years until it hit the powerful Circumpolar … Read more
Rishi Sunak warned Cabinet they face a ‘sobering’ economic situation today as he prepares another spending splurge to shore up jobs and businesses before vaccines finally end the coronavirus crisis. The Chancellor briefed ministers ahead of a Spending Review that will pump billions of pounds into retraining the unemployed, as well as boosting infrastructure, the NHS … Read more