financial sector

Poor families hit as UK inflation rises to 1% – as it happened

Poor families hit as UK inflation rises to 1% – as it happened

Government’s freeze on in-work benefits means many families will suffer as the cost of living rises IFS says poor families suffer through benefit freezeNEWSFLASH: CPI jumps to 1%PwC: Inflation is
Warnings over rising food prices as UK inflation hits near two-year high of 1%

Warnings over rising food prices as UK inflation hits near two-year high of 1%

Rising petrol and clothing prices drive increase in cost of living, with falling pound starting to make imports more expensiveBritain’s biggest supermarket has warned that dearer food prices triggered
European banks warn against political 'intrusion'

European banks warn against political 'intrusion'

Central bankers stress independent role as Bundesbank official plays down impact of Brexit vote on financesTop European central bankers have warned against politicians interfering in monetary policy,
After eight hard years and a £52bn loss, can RBS ever be privatised?

After eight hard years and a £52bn loss, can RBS ever be privatised?

This week’s results for the bailed-out bank are expected to be weak again. Is it now time to contemplate a break-up?Royal Bank of Scotland has racked up £52bn of losses since it was bailed out eight
FCA says it is watching algorithmic traders linked to pound's flash crash

FCA says it is watching algorithmic traders linked to pound's flash crash

Regulator’s statement comes after its chief executive, Andrew Bailey, pledges to clean up the scandal-prone City of LondonThe City regulator has said it is keeping a close watch on algorithmic traders
Sadiq Khan warns hard Brexit will cost millions of jobs across UK

Sadiq Khan warns hard Brexit will cost millions of jobs across UK

London mayor tells City of London banquet that leaving single market is economic self-sabotage as policy chief admits job losses inevitable The mayor of London has warned the government that its
Brexiter Crispin Odey says Britain is destined for recession

Brexiter Crispin Odey says Britain is destined for recession

Hedge fund tycoon predicts stock market collapse, inflation and falling profits in letter to investorsThe hedge fund manager Crispin Odey has warned Britain is destined to have a recession and
Moody's warns of UK credit rating downgrade

Moody's warns of UK credit rating downgrade

Ratings agency says UK risks another downgrade if it does not retain single market access as part of Brexit dealThe UK’s credit rating could be downgraded again if the government fails to retain
Dow hits record high after Trump win but investors warn of volatility

Dow hits record high after Trump win but investors warn of volatility

Warning of ‘muddled trading’ as Dow Jones rallies, FTSE 100 dips and concern grows over new presidency effect on global economyThe Dow Jones Industrial Average closed at a record high on Thursday,
S&P predicts hard Brexit and fresh downgrade for UK

S&P predicts hard Brexit and fresh downgrade for UK

In a blunt assessment the ratings agency calls UK a deeply divided, diminishing economic power on verge of losing the right to freely export to the EUBritain is in store for a hard Brexit that will
US economy predicted to lead global growth

US economy predicted to lead global growth

Moody’s warns of rising threat of protectionism but says Donald Trump policies will lift US growth just as Brexit uncertainty will weigh down UKThe US is expected to lead global growth higher over the
Brexit unlikely to mean loss of City's role in processing deals in euros

Brexit unlikely to mean loss of City's role in processing deals in euros

London likely to remain home of £460tn-a-year business, according to analysis by ratings agency S&POne of the City’s most prized businesses – the way that financial products priced in euros are
Cyprus, crisis and the bank that came back from the brink

Cyprus, crisis and the bank that came back from the brink

The country’s biggest lender took cash away from savers to survive in 2013. Now, remarkably, Bank of Cyprus is hoping to float in LondonOnly three years ago, Bank of Cyprus was on the critical list.
Brexit vote wiped $1.5tn off UK household wealth in 2016, says report

Brexit vote wiped $1.5tn off UK household wealth in 2016, says report

Oxfam criticises rising inequality as Credit Suisse finds about 400,000 Britons have lost their status as dollar millionaires The UK saw $1.5tn (£1.2tn) wiped off its wealth during 2016 after the
Tony Blair wonders what’s gone wrong with politics. How sad he can’t see it | Owen Jones

Tony Blair wonders what’s gone wrong with politics. How sad he can’t see it | Owen Jones

He oversaw the Iraq war and calamitous financial deregulation, and did lucrative work for foreign tyrants. No wonder faith in the centre-left has evaporatedIf Tony Blair is the answer, then the
Bank of England prepares to protect City firms from hard Brexit

Bank of England prepares to protect City firms from hard Brexit

Governor Mark Carney begins work on transitional arrangements to maintain London’s stature in global financeThe Bank of England is pushing ahead with plans for transitional arrangements after Brexit
The European elite have developed a death wish | Paul Mason

The European elite have developed a death wish | Paul Mason

From the French right’s selection of Fillon to the Italian referendum and Austrian election, Europe’s centre is oblivious to its own existential crisis. They might want to dust off their copies of
US growth revised up; Iran rules out oil production cuts – as it happened

US growth revised up; Iran rules out oil production cuts – as it happened

America’s economy is growing faster than expected, as Opec struggles to reach agreement on output curbsLatest: Iran says it won’t cut oil outputUS GDP beats forecasts with 3.2% growthTiffany’s hurt by
RBS’s past sins are still shaping the bank’s future | Jill Treanor

RBS’s past sins are still shaping the bank’s future | Jill Treanor

Calls to turn the bailed-out Royal Bank of Scotland into a network of local lenders are bound to intensify now that it has failed its annual health checkEight years after the banking crisis, Royal
Taxpayers saved the Royal Bank of Scotland. Now it’s time we owned it | Gareth Thomas

Taxpayers saved the Royal Bank of Scotland. Now it’s time we owned it | Gareth Thomas

Mutualising RBS would mean it could start serving those who bailed it out. And it would also inject some much-needed competition into the banking sectorEvery month there are new headlines about the