Silicon Valley Bank, the 16th largest bank in the US, was shut down by the country’s regulators last week, and we’ve now learned that HSBC has moved to buy the UK arm of the collapsed institution. Since the bank specialises in lending to technology companies, the rescue by HSBC will be a huge relief to …
Introduction The defining story of this month has been the collapse of Silicon Valley Bank and the takeover of Credit Suisse by UBS. Not only has this led to many asking if a repeat of the 2008 financial crisis is around the corner, it’s raised questions over what levers central banks can pull as they …
Introduction Russia’s invasion of Ukraine in February 2022 had a huge impact on the global economy, pushing up commodity prices, inflation and living costs around the world. Last month saw the first anniversary of the invasion, and amid the renewed displays of solidarity from leaders in the UK, the US and the European Union, was …
The word “recession” hasn’t been far from the headlines for quite a while now, as the economy struggles to bounce back from the pandemic and soaring inflation hits consumer confidence. But the latest figures have raised some eyebrows. According to the latest official data, the UK economy shrank by 0.3 per cent in the three …
Introduction Savers and investors will not shed many tears for the end of 2022. A year that was beset by inflation and rising interest rates meant only three of the major stock markets we report on made gains in the year. That was how we started the final Stock Market Bulletin of last year. So …
Introduction As 2022 drew to a close, there was a mixed picture worldwide as major economies sought to respond to soaring energy prices, rising living costs and the continuing impact of Russia’s invasion of Ukraine. In our first round-up of the year, we look at where we left off in 2022 all across the world… …
Introduction War? Soaring energy and food prices? Covid surging in China and people taking to the streets in protest? Worries about a prolonged recession here in the UK? In November, there was plenty for world stock markets to worry about – but, as we will see below, the markets largely shrugged aside the concerns, with …
The Bank of England’s aim is for the country to have low and stable inflation – and it works to a target of two per cent. Changing interest rates are the Bank of England’s mechanism for achieving its inflation target, and in the current climate of high inflation, it believes raising rates is the right …
Introduction Where did we leave the soap opera that is British politics? At the end of September, Liz Truss was the Prime Minister, and Kwasi Kwarteng was her Chancellor. As we reported last month, Kwarteng presented his ‘fiscal statement’ on Friday 23rd September. Three weeks later, he was gone and Liz Truss had to endure …
*Please note that since this article was written the Higher Tax Rate cut has been cancelled and so is no longer relevant. Reactions to the speech where it was mentioned have been included. Introduction So what was it? A ‘fiscal event’? A Mini Budget? Or a full-blown Budget from a new Chancellor determined to take …
