Oil prices slip ahead of U.S. inventory data
Oil prices fell more than $1 a barrel on Wednesday, under pressure from global central bank efforts to limit inflation and ahead of expected builds in U.S. crude inventories as fuel demand weakens.
Royal Mail to change name, could separate underperforming UK business
Royal Mail (RMG.L) said it would rename its holding company International Distributions Services Plc and could separate its UK business, where its workforce is set to strike over pay, if its performance doesn’t improve.
Swedbank misses second quarter profit forecasts, maintains 2022 cost cap
Swedish lender Swedbank (SWEDa.ST) reported a smaller-than-expected net profit for the second quarter on Tuesday, as higher costs and lower trading gains took some of the shine off rising income from mortgages on the back of higher interest rates.
Santander UK, Virgin Money join firms helping staff with cost of living crisis
The British arm of Spanish lender Santander (SAN.MC) said on Tuesday it would award a 4% pay rise to around 11,000 UK-based employees to help with the rising cost of living, as inflation cripples household budgets across Britain and beyond.
Bank data shows U.S. consumer financial health holds up amid rising inflation
Americans’ financial health held up well in the second quarter even as inflation sent gas and grocery bills higher and ate into savings for the first time since the pandemic, U.S. bank executives said.
Analysis: Banks’ snubbing of junk-rated loan funds worsens financing logjam
A decision by banks to change how they invest spare capital is limiting their ability to extend loans to companies with weak balance sheets during the financial market downturn, fund managers and investors said.
eAssessment helps improve National Health Service patient care
One of the UK’s pioneer bodies for training scientists working in the National Health Service (NHS) is using the eAssessment platform developed by eCom Learning Solutions, Scotland’s leading digital learning and assessment specialist.
Exclusive: HSBC set to push back against Ping An breakup proposal
HSBC Holdings Plc (HSBA.L) is set to speed up its exit from non-core markets and deploy additional capital in Asia, in a bid to push back against a breakup proposal put forward by its biggest shareholder, two people with knowledge of the matter said.
Bank of America posts drop in quarterly profit as dealmaking slumps
Bank of America Corp (BAC.N) posted a nearly 34% drop in second-quarter profit on Monday, hit by a slump in investment banking revenue as dealmaking activity was at a fraction of last year’s record levels.
U.S. chip industry split over CHIPS act benefits to Intel
Several U.S. semiconductor firms are deliberating whether to oppose a package of chip industry subsidies if the final language of the legislation awaiting a vote in the Senate disproportionately benefits manufacturers like Intel Corp (INTC.O), sources familiar with the matter told Reuters.
