Banks
Your cash savings may finally yield a higher return — but only at certain banks
Guido Mieth | DigitalVision | Getty Images Banks are starting to pay a higher return on your cash — good news for savers who’ve seen their stockpiles languishing from a gruesome combination of low interest rates and high inflation. However, some banks are moving faster than others. Some, particularly traditional brick-and-mortar shops, may not budge […]
Read More
‘We see a big recession in the making’: Top CEOs are fearing the worst in Europe
Top European CEOs are fearing a euro zone recession as a confluence of economic shocks continues to threaten the outlook for the bloc. Alex Kraus | Bloomberg | Getty Images LONDON — The CEOs of several European blue chip companies have told CNBC that they see a significant recession coming down the pike in Europe. […]
Read More
Despite the Fed’s big rate boost, most banks will still pay paltry interest rates
Jerome Powell, Federal Reserver Governor. Katie Kramer | CNBC The Federal Reserve just raised its benchmark interest rate by half a percentage point, its largest such move in more than two decades, as it seeks to tame inflation. The central bank’s actions mean that, in an era of sharply rising prices for everything from food […]
Read More
Watch Governor Andrew Bailey speak after the Bank of England’s rate hike
[The stream is slated to start at 08:00 ET. Please refresh the page if you do not see a player above at that time.] Bank of England Governor Andrew Bailey is speaking at a press conference following the U.K. central bank’s latest monetary policy decision. In a widely expected move, policymakers at the BOE voted […]
Read More
SocGen points to cost of Ukraine war with higher bad loan provisions
French bank Societe Generale has announced plans to exit Russia. Bloomberg | Bloomberg | Getty Images French lender Societe Generale said on Thursday it would have additional costs as a result of the war in Ukraine because more customers would be unable to repay their loans, underscoring the ever wider economic damage in Europe. France’s […]
Read More
Buy now, pay later will soon affect your credit score in the UK
Buy now, pay later giant Klarna says it will start reporting data on customers’ usage of its products to credit bureaus in the U.K., gearing up for incoming regulations aimed at reining in the sector over fears it is putting young people into debt. Starting June 1, the Swedish fintech firm will share information on […]
Read More
‘Risky’ fourth straight rate hike expected from Bank of England as inflation soars
LONDON, February 03: Governor of the Bank of England Andrew Bailey leaves after a press conference at Bank of England on February 3, 2022 in London, England. The Bank is expected to hike interest rates for a fourth consecutive meeting on Thursday, but faces a touch balancing act between supporting growth and curbing inflation. Dan […]
Read More
These are Credit Suisse’s top European stock picks right now
The Swiss bank has named its top stocks for the second quarter, including a “top of the crop” list of under-the-radar names. Source
Read More
Citi says a trader error caused Europe’s ‘flash crash’. Here’s how it unfolded
Citigroup said it had identified the cause of the flash crash and corrected the error “within minutes.” Jim Dyson | Getty Images News | Getty Images A so-called “flash crash” in European markets on Monday prompted several indexes to tumble sharply, sparking alarm among investors on a day when trading was thin due to public […]
Read More
France’s BNP Paribas posts 19% rise in quarterly net profit
French bank BNP Paribas on Tuesday posted a 19.2% rise in net income in the first quarter, helped by a sharp increase in trading activities and said it kept 2025 targets amid the Russia-Ukraine conflict and a worsening economic growth outlook. France’s biggest listed lender said in a statement net profit reached 2.11 billion euros […]
Read More