Fidelity Top Stories
US existing home sales jump in February, prices dip
Second-hand home selling activity in the US jumped last month by the most since July 2020 amid a dip in prices.
Washington ready to act if necessary, deposit outflows have stabilised, Yellen says
The Secretary of the Treasury of the United States was set to tell a banking industry group that Washington would provide additional support if needed but that deposit outflows had stabilised.
Moody's downgrades UBS outlook to 'negative'
Ratings agency Moody’s cut its outlook on UBS debt to 'negative' on Tuesday following its acquisition of rival Credit Suisse.
RMT signals, maintenance members accept new pay offer
Rail signal workers and maintenance staff in the RMT union have voted to accept a pay offer from Network Rail.
UK workers '£11k worse off since 2008' due to stagnant wage growth
British workers are £11,000 worse off a year after 15 years of “unprecedented” wage stagnation and economic policy failure, the Resolution Foundation think tank said on Monday.
FirstGroup's Avanti gets West Coast contract extension despite poor services
FirstGroup's troubled Avanti West Coast rail contract has been controversially extended to October despite calls for it to be stripped of the franchise for unreliable services and cancellations.
UBS agrees to acquire Credit Suisse for $3.25bn
UBS agreed to acquire rival lender Credit Suisse for approximately $3. 25bn in an all-share transaction.
UK house prices up 0.8% in March
UK property asking prices rose by 0. 8% in March from the prior month and showed signs of stabilising after last year's ‘mini-budget’ that created severe market volatility, according to a survey released on Monday.
S&P cuts rating on First Republic Bank's debt again
S&P Global cut its long-term credit rating for First Republic Bank's debt for the second time in under a week.
Credit Suisse shares plunge again as US investors file lawsuit
Shares in crisis-hit lender Credit Suisse plunged again on Friday after the bank was slapped with a lawsuit by US investors alleging it overstated its financial prospects to shareholders.
Wood Group grants Apollo extension on bid deadline
Private equity firm Apollo has been given an extension on whether it will formally bid for Wood Group after three prior approaches were rebuffed.
JP Morgan, Morgan Stanley in talks to shore up First Republic Bank - WSJ
Several of the biggest US lenders are in talks to shore up First Republic Bank.
ECB goes ahead with 50 basis point interest rate hike
Rate-setters in Frankfurt went ahead and raised short-term interest rates by 50 basis points despite recent heightened stress in the banking sector on either side of the Atlantic.
UK faces higher taxes, lower living standards after Budget, say think tanks
Britons face a decade of lower living standards and poorer public services while paying higher taxes, leading think tanks warned on Thursday after the government’s spring Budget.
Weekly US jobless claims drop sharply
Tightness in the US jobs market showed no signs of easing, data covering the previous week showed.
John Lewis warns on jobs as staff lose bonus, profits slump
UK retailer John Lewis on Thursday warned it may have to cut jobs as it slumped to a full-year loss and told staff it will not hand out a bonus for only the second time since 1953.
UK avoids recession, but living standards plunge, taxes rise - OBR
Britain's economy is forecast to avoid a recession in 2023, but living standards are still set to record their biggest two-year fall in seven decades, while the tax burden also increases for millions of people, the Office for Budgetary Responsibility said on Wednesday.
Polymetal flips into negative free cash flow amid sanctions, but upbeat on outlook
Polymetal decided to forego dividend payments for 2022 in order to preserve flexibility in navigating what it termed "a highly volatile and uncertain external environment".
Currys replaces Nordics CEO, sees FY profit at lower end of guidance
Electricals retailer Currys has replaced the chief executive of its troubled Nordics division and warned that group profits will be at the lower end of expectations.
Deliveroo sees profit growth in 2023
Meal delivery firm Deliveroo on Wednesday said it was set to lift earnings this year and announced a £50m share buyback after an improved second half of 2022.