Costlier credit, on tighter terms as banks assess risk Some business owners use their own money to fill in the gaps Funding crisis could deal another economic blow to Britain LONDON, Nov 17 (Reuters) – As inflation soars and recession looms, many British businesses are struggling to get affordable bank finance, putting pressure on the … Read more
UK composite PMI drops to 49.1 in September (Prev: 49.6) Consumer confidence shaken by cost of living crisis UK private car registrations down 3.6% Britain’s new prime minister had a rocky start to office LONDON, Oct 5 (Reuters) – Britain’s private sector economy suffered the biggest contraction in activity last month since the COVID lockdown … Read more
2021-22 profit drops 89% Expects first-half loss in 2022-23 Uncertainty means there are no full-year earnings forecasts Agrees to a new deal with lenders Stocks rebound 9% LONDON, Oct 19 (Reuters) – ASOS (ASOS.L), the former British star of the shift to online fashion retail, will review its business model after the economic crisis and … Read more
Oct 14 (Reuters) – Citigroup Inc (CN) beat third-quarter profit estimates on Friday as its lending business benefited from a series of interest rate hikes by the Federal Reserve and offset weakness elsewhere divisions such as investment banking and trading. After facing years of near-zero interest rates, banks are seeing a sharp rise in net … Read more