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The European Central Bank has raised interest rates by half a percentage point — its first increase for more than a decade — while pledging to prevent rising borrowing costs from sparking a eurozone debt crisis amid political turmoil in Italy. The ECB said in a press release after its governing council met in Frankfurt
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Goldman Sachs has reported a 47 per cent drop in second-quarter profits, as the Wall Street giant suffered from a slowdown in investment banking fees and plummeting revenues in asset management. In second-quarter earnings, Goldman reported on Monday net income of $2.9bn or $7.73 per share, down from $5.5bn or $15.02 per share in the
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Celsius Network, one of the world’s largest cryptocurrency lenders, has filed for bankruptcy, following a wave of digital asset companies that have frozen assets and entered restructuring amid a sharp sell-off in cryptocurrencies this year. The Hoboken, New Jersey-based company’s Chapter 11 bankruptcy filing in federal court in New York comes roughly a month after
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The race to succeed Boris Johnson as Conservative leader is under way, as eight contenders compete for the backing of Tory MPs to make the final shortlist of two that will be voted on by party members. The eight received the nominations required to be on the ballot when Conservative MPs begin voting on Wednesday.
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Set against Gustav Holst’s hymn ‘I Vow to Thee, My Country’, with union jacks and a deep-voiced narrator, the message of Penny Mordaunt’s campaign launch video for the Conservative party leadership was pure patriotism. While Mordaunt’s film was derided on social media for its clichéd imagery, it appealed to the hearts of Tory members. One
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Rishi Sunak, who quit as Boris Johnson’s chancellor this week, launched his bid to lead the Conservative party on Friday with a pledge that he will avoid “comforting fairy tales”. His video to launch his campaign appeared a coded attack on what many MPs have seen as the prime minister’s Panglossian approach to policy. “Someone
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