The Bank of England unexpectedly raised its benchmark interest rate by a half percentage point, stepping up its fight against the worst bout of inflation since the 1980s and warning it may have to hike again.
(Bloomberg) — Norway’s central bank accelerated interest-rate increases and pledged more aggressive tightening, intensifying its response to stubborn inflation and a weak currency.
Turkey’s lira dropped to the weakest on record after a smaller-than-expected increase in interest rates on Thursday.
The crisis at Credit Suisse Group AG this year, which led to its near collapse and takeover by UBS Group AG, demonstrated that existing financial regulation can end up slowing the response to stress situations, Switzerland’s central bank said.
Unreal Food ended its pursuit of an eggless egg. Remastered Foods stopped developing vegan bacon. The Meatless Farm halted its plant-based sausages.
UBS Group AG may see a $150 billion decline in its wealth-management client assets following the acquisition of Credit Suisse Group AG, analysts at JPMorgan Chase & Co. estimate.
The Bank of England raised its benchmark interest rate to 5%, the highest level in 15 years, in a 7-2 vote Thursday. Lizzy Burden reports on Bloomberg Television.
Dealmakers brave enough to attempt big acquisitions are increasingly running into difficulties, as transactions get held up by everything from government haggling to regulatory worries.
The landlord at the center of a commercial property crisis in Sweden is being investigated by the country’s financial watchdog over whether it violated accounting rules, adding to the troubles facing the embattled company.
