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When the financial crisis of 2008 hit, the then prime minister Gordon Brown was ready with the big bazooka. With two of the nation’s biggest banks, Royal Bank of Scotland and Lloyds-HBOS just hours from running out of cash, the then Labour government launched a near one-trillion-pound rescue package for big banks, business and consumers. … Read more
Under more normal circumstances a one-third crash in the price of oil might be a cause for celebration. It would mean cheaper motoring, lower costs for businesses and lower home-heating bills. But the global Covid-19 scare that caused the price crash and triggered a spine-chilling collapse in share prices on both sides of the Atlantic … Read more
ALEX BRUMMER: Rishi Sunak is on a tricky flight path as coronavirus picks his pocket before first budget By Alex Brummer for the Daily Mail Published: 21:51 GMT, 6 March 2020 | Updated: 21:51 GMT, 6 March 2020 The collapse of Flybe into administration is a crisis for the airline’s millions of passengers and its … Read more
Who would be a stock market investor? Truth is, most of us. The era of super-low interest rates since the financial crisis has everyone searching for income and yield. And although almost every investment in equities and funds carries the health warning that shares can go up and down, no one is quite prepared when … Read more
ALEX BRUMMER: Andrew Bailey applies the balm in first appearance before the Treasury Select Committee as Bank boss By Alex Brummer for the Daily Mail Published: 21:50 GMT, 4 March 2020 | Updated: 22:07 GMT, 4 March 2020 Never waste a good crisis. Andrew Bailey’s first appearance before the Treasury Select Committee as anointed Governor … Read more
Amid the carnage on world markets caused by fears surrounding the coronavirus health catastrophe, not all shares were deeply in the red. On a day when the FTSE 100 dropped 3.2 per cent and shares of Willie Walsh’s International Airlines Group plummeted 8.4 per cent, stock in Britain’s aircraft engine maker Rolls-Royce was the great … Read more
Climate-change activists will not be the only ones celebrating the Court of Appeal’s decision to block a new third runway at Heathrow. It saves the Prime Minister Boris Johnson, who once threatened to lie down in front of the bulldozers, from having to make an embarrassing U-turn. It is a great victory for British Airways … Read more
For the generation which might have forgotten – or even never known – what a stock market correction looks like, now is the time to learn. Fears of the corroding damage which coronavirus is having on the world economy have spread dramatically, delivering the worst week for share prices across the globe since the peak … Read more
The activist demand that the Prudential sell its American arm Jackson Life was a bit of a shock. But the idea will be familiar to the Pru board, chaired by City grandee Paul Manduca. As part of a continuing strategic review, the future of America’s top annuity insurer Jackson Life has been under discussion for … Read more
ALEX BRUMMER: Keep the Pru in the City at this crucial time for post-Brexit Britain By Alex Brummer for the Daily Mail Published: 21:50 GMT, 24 February 2020 | Updated: 21:50 GMT, 24 February 2020 Barely six months have passed since the Prudential split off its high-flying international operations from its UK fund management and … Read more