US faces ‘chaos’ if debt ceiling not raised, warns Yellen
The Republican-led House of Representatives voted in April to lift the borrowing limit, but only if President Biden commits to...
archiveGlobal economy
Europe’s credit crunch will be the next chapter of this banking crisis
To which one can only retort: thank heavens for that.If anything does go wrong – and there is a high...
Resist quick fix tax cuts to boost UK economy, urges Chancellor’s new adviser
It is not a typical message delivered to a Conservative chancellor by their advisers.Jeremy Hunt's new economic adviser has told...
PacWest shares plunge 60pc as US bank explores sale amid banking crisis fears
Good morning. PacWest shares plummeted by 50pc in after hours trading in New York amid talks of a rescue for the...
Fed raises US interest rate to 16-year high despite banking crisis
Rich buyers continue to snap up high-end sports cars despite soaring inflation and an uncertain economy, industry editor Howard Mustoe...
Half of America’s banks are potentially insolvent – this is how a credit crunch begins
First Republic lends to technology start-ups, but it chiefly came unstuck on commercial real estate. It will not be the...
House prices grow for the first time in eight months
HSBC's takeover of Silicon Valley Bank for £1 in March amid concerns of a fresh global banking crisis gave the...
‘Money-printing spree has turned banks into drug addicts’
"So there are losses from long term loans, but there's also the commercial real estate losses to buildings to office...
Regulators race to save First Republic Bank after share price collapse
First Republic Bank rescue talks now involve the likes of the Federal Deposit Insurance Corporation (FDIC), the Treasury Department and...
London is on life-support, warns Marks & Spencer boss
The number of new homes built by London-listed Persimmon slumped by more than 40pc in the first three months of...
