One of the most reliable rules of thumb in finance is surely this: when bankers crack open the champagne, everyone else needs to start worrying – hard. Well, the next few days will most probably be soundtracked by a fusillade of popping corks, as Lloyds, RBS and other high-street banks put out bumper half-year performance reports. Continue Reading…
Robust profits from two of Europe’s biggest banking groups – HSBC and BNP Paribas – helped drive up stock markets on Monday, as investors continued to correct their underweight stance on the financial sector. Continue Reading…
The US banking system continues to wobble under financial woes, with 13 banks on an average going belly up every month in 2010. Continue Reading…
How much stress can Europe’s banking system take? Continue Reading…
London’s FTSE 100, which rose 1pc on Wednesday, gained a further 1.8pc to 5105.45 on Thursday. Aggreko led the charge with a 5.68pc increase after HSBC boosted its rating to “overweight”. Continue Reading…
In a controversial move it has been revealed that European leaders will publish the result of banking stress tests on 25 of Europe’s largest banking institutions. Continue Reading…
Euro zone banks are having a scary sense of deja vu. In 2008 a funding freeze caused several banks to fail. Continue Reading…
President Barack Obama will extend his push to revive the U.S. economy next week with a speech outlining job creation ideas, from encouraging home insulation programs to diverting funds meant to rescue failing banks, officials said on Friday. Continue Reading…
Heads of the multilateral development banks (MDBs) and the International Monetary Fund issued a joint statement yesterday asking participants of the coming Copenhagen UN climate change summit to agree “the foundations for an ambitious, comprehensive, and equitable global climate change regime that enables all countries to achieve sustainable development.” Continue Reading…
Barclays, Lloyds Banking Group and Royal Bank of Scotland, the UK banks, are facing £6bn ($10bn) in extra interest rate costs over the next four years as the Bank of England withdraws cheap emergency loans from the market. Continue Reading…