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Britain recorded the largest budget deficit for any February since at least 1993 when monthly records started, swelled b...
21/03/2023

Britain recorded the largest budget deficit for any February since at least 1993 when monthly records started, swelled by spending on energy bill support programmes, official data showed on Tuesday.

The Office for National Statistics said public sector net borrowing, excluding state-owned banks, was 16.68 billion pounds ($20.4 billion) in February.

A Reuters poll of economists had pointed to public sector net borrowing, excluding state-owned banks, of 11.4 billion pounds.

The ONS said it was the highest borrowing for any February since monthly records began in 1993, largely because of spending on energy bill support programmes.

The FTSE 100 is expected to open higher extending Monday’s gains as the banking sector shows signs of stabilising and in...
21/03/2023

The FTSE 100 is expected to open higher extending Monday’s gains as the banking sector shows signs of stabilising and investors switch attention to monetary policy moves in the US and the UK.

Spread betting companies are calling London’s lead index by around 32 points.

US stocks advanced on Monday as the rescue of Credit Suisse (SIX:CSGN) allayed fears about bank contagion, while investors weighed odds of the Federal Reserve pausing its rate hikes this week.

Switzerland awoke to a new era on Monday after UBS swept up Credit Suisse (SIX:CSGN) in a government-brokered rescue tha...
20/03/2023

Switzerland awoke to a new era on Monday after UBS swept up Credit Suisse (SIX:CSGN) in a government-brokered rescue that dented the country's long-held pride in its banking expertise.

A bank employee association said it was deeply shocked by the potential consequences from the deal to save the 167-year-old Credit Suisse after customer and market confidence in the lender evaporated.

In a package orchestrated by Swiss regulators on Sunday, UBS will pay 3 billion Swiss francs ($3.23 billion) for Credit Suisse and assume up to $5.4 billion in losses.

Six major central banks, including the Federal Reserve, are implementing new measures to enhance global access to dollar...
20/03/2023

Six major central banks, including the Federal Reserve, are implementing new measures to enhance global access to dollar liquidity amidst the ongoing turmoil in the banking sector.

Starting on Monday, they will shift from weekly to daily dollar auctions to alleviate strains in global funding markets. This initiative, involving the Fed, the European Central Bank, the Bank of England, the Swiss National Bank, the Bank of Canada and the Bank of Japan, will continue at least until the end of next month.

UBS Group AG (SIX:UBSG) is in emergency talks to buy fellow Swiss banking giant Credit Suisse (SIX:CSGN) as authorities ...
19/03/2023

UBS Group AG (SIX:UBSG) is in emergency talks to buy fellow Swiss banking giant Credit Suisse (SIX:CSGN) as authorities bid to stave off turmoil when global markets reopen on Monday, with reports saying UBS has offered to pay up to $1 billion.

UBS Group AG (SIX:UBSG) is in emergency talks to buy fellow Swiss banking giant Credit Suisse (SIX:CSGN) as authorities ...
19/03/2023

UBS Group AG (SIX:UBSG) is in emergency talks to buy fellow Swiss banking giant Credit Suisse (SIX:CSGN) as authorities bid to stave off turmoil when markets reopen on Monday, with reports saying UBS has offered to pay up to $1 billion.

Swiss authorities are examining imposing losses on Credit Suisse bondholders as part of a rescue, two sources with knowledge of the matter said on Sunday, while European regulators are apprehensive.

Officials have been racing to rescue the 167-year-old bank, among the world's largest wealth managers, after a brutal week that saw the second- and third-largest U.S. bank failures in history. As one of 30 global banks seen as systemically important, any deal for Credit Suisse could ripple through global financial markets.

Стоимость майских фьючерсов на нефть Brent на лондонской бирже ICE Futures обвалилась на 3,64%, опустившись до $74,63 за...
15/03/2023

Стоимость майских фьючерсов на нефть Brent на лондонской бирже ICE Futures обвалилась на 3,64%, опустившись до $74,63 за баррель, свидетельствуют данные торгов. Нефть этой марки торгуется ниже $75 за баррель впервые с 23 декабря 2021 года.

Цена на фьючерсы на нефть WTI с поставкой в апреле на Нью-Йоркской товарной бирже упала на 3,95%, до $68,51 за баррель.

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