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Firms in shadow banking sector risk triggering £17bn asset sell-off, says Bank of England
Fri, 29 Nov 2024, 11:23
Hedge funds, pension funds and other companies in the shadow banking sector are at risk of amplifying market shocks and triggering a £17bn asset sell-off, according to the Bank of England’s first ever stress test into the largely unregulated industry. The landmark exercise, the first in the world by a …
Crypto entrepreneur eats banana art he bought for $6.2m
Fri, 29 Nov 2024, 10:55
The cryptocurrency entrepreneur Justin Sun has fulfilled a promise he made after spending $6. 2m (£4. 88m) on an artwork featuring a banana duct-taped to a wall – by eating the fruit. At one of Hong Kong’s priciest hotels, Sun, 34, chomped down on the banana in front of dozens …
TSB appoints Marc Armengol as new CEO amid uncertainty over bank’s future
Fri, 29 Nov 2024, 10:00
TSB has appointed the former executive Marc Armengol as its new chief executive as the bank faces uncertainty over its future, with its parent companyfacing a hostile $13bn (£10. 2bn) takeover bid. Armengol, a former strategy director at TSB who has served on the board since 2022, originally joined the …
UK could loosen EV rules to allow sales of Prius-style hybrids until 2035
Fri, 29 Nov 2024, 08:55
Car manufacturers may be allowed to sell Toyota Prius-style hybrid models in the UK until 2035, as the government looks at ways to loosen electric vehicle sales rules. Earlier this week, the government launched a fast-track consultation to determine what types of electric vehicles carmakers can sell after a ban …
Jürgen Klopp’s former mansion tops Rightmove’s views list for 2024
Fri, 29 Nov 2024, 08:00
A home fit for football royalty and a grade-I listed abbey are among this year’s most-viewed properties on the listing website Rightmove. Jürgen Kloppleft his job as manager of Liverpoolin May, and in October the six-bedroom home he was renting from the Merseyside club was put on the market at …
‘People forget their manners’: US retail workers brace for Black Friday shopping rush
Fri, 29 Nov 2024, 07:00
For workers in retail, the day after Thanksgiving, Black Friday, marks the beginning of the busiest time of year. Though the nature of shopping has changed in recent years, with online purchasescompetingmore with brick and mortar sales and sales “days” lasting for weeks at a time, US retail sales between …
‘Would you survive 72 hours?’ Germany and the Nordic countries prepare citizens for possible war
Fri, 29 Nov 2024, 05:00
Germany is developing an app to help people locate the nearest bunker in the event of attack. Sweden is distributing a 32-page pamphlet titled If Crisis or War Comes. Half a million Finns have already downloaded an emergency preparedness guide. If the prospect of a broader conflict in Europe seems …
Aid officials recount violent looting in Gaza as criminal gangs thrive amid Israeli bombardment
Fri, 29 Nov 2024, 05:00
Aid officials and witnesses have described the chaotic and violent moments when a huge convoy carrying enough flour to bake bread for two-thirds of the population of Gaza for a week was looted this month. The officials made clear the attack was undertaken by groups of criminals, not civilians who …
Living with ‘the stench’: the smelly New Zealand city with an air of despair
Fri, 29 Nov 2024, 02:50
In a small city across the harbour from New Zealand’s capital, an invisible villain is terrorising locals. It hovers thick and putrid, seeping through windows, tainting laundry and making people retch. “The stench”, as locals call it, can be so odious, people have to dash between their car and house …
Georgia protesters clash with police after PM suspends EU membership talks
Fri, 29 Nov 2024, 02:39
Police clashed with protesters in the Georgian capital Tbilisi early on Friday, after the country’s ruling party said the government would suspend talks on European Union accession until 2028. The country’s interior ministry said three police officers were injured, two of whom were hospitalised. Police fired water cannon and deployed …
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