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Markets suffer on both sides of Atlantic as Fed signals more rate hikes and recession fears grow in UKGlobal financial markets fell sharply on Thursday as investors braced for central banks driving interest rates up further to combat high inflation acr…
FCA tells NatWest, Lloyds, HSBC and Barclays to act more quickly to support consumers after profiteering claimsThe City regulator has urged the UK’s largest high-street banks to “accelerate” savings rates following a meeting with chief executives, who …
JP Morgan says risk of ‘hard landing’ for economy heightened, with higher borrowing costs hitting businessThe Bank of England may need to push interest rates to as high as 7% to tackle stubbornly high inflation, economists have warned, amid fears the s…
Joe Biden’s team focuses on voters’ dim perception of president’s handling of economy despite signs of positive performanceAs Joe Biden launches his 2024 re-election campaign, the White House is hoping to revamp the messaging on the president’s economi…
Economists put reason for divergence down to Brexit and Britain’s energy price guaranteeBusiness live – latest updatesThe eurozone’s annual inflation rate fell by more than expected in June to 5.5% amid sharp falls in the cost of energy, highlighting a…
Andrew Bailey says financial markets expect more rate rises amid continuing high inflation The Bank of England governor, Andrew Bailey, has hinted that interest rates may stay high for longer than expected amid stubbornly high inflation.Speaking at the…
Measures are aimed at preventing companies using rampant inflation to hike prices during cost of living crisisBritain’s watchdogs have agreed to a suite of measures aimed at protecting consumers from being ripped off by companies during the cost of liv…
Unit owners particularly vulnerable as profitable national housing sales sank to 92.3% in the three months to March 2023, according to CoreLogic dataGet our morning and afternoon news emails, free app or daily news podcastProperties sold at a loss incr…
After asking borrowers to hold their nerve, the prime minister now seems to be preparing to further squeeze public sector workersFresh from urging mortgage borrowers to “hold their nerve” in the face of dramatic increases in repayments, Rishi Sunak now…
Christine Lagarde says without a shift in corporate behaviour, interest rates will need to stay higher for longerCorporate profits were the biggest factor driving up prices last year and will be again in 2023 unless businesses are forced to absorb risi…