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...Profits at Lloyds Banking Group fell below expectations in the first quarter, as a windfall from higher interest rates for the high-street bank has continued to wane....
...Barclays’ profits fell 13 per cent in the first quarter, as the bank announced its first results since chief executive CS Venkatakrishnan set out an ambitious three-year plan to revive its share price....
...Corporate insolvencies in England and Wales fell sharply in March, registering the first annual decline since July last year....
...Bank of America’s profits fell 18 per cent in the first quarter, dragged down by a jump in potential loan losses and additional expenses tied to last year’s regional banking crisis....
...Profits at Lloyds Banking Group fell 28 per cent in the first quarter, as a windfall from higher interest rates for the UK high street bank continued to wane....
...Shares in Gucci owner Kering dropped 6.9 per cent after the luxury group warned it expected sharply lower profits in the first half of 2024, largely because of tough market conditions in China....
...UK high-street bank NatWest has reported a 27 per cent drop in first-quarter profits, as the benefits of rising interest rates fell away across the sector....
...NatWest reported a 27 per cent drop in first-quarter profits, as UK banks put the windfall gains from rapidly rising interest rates behind them....
...Australian inflation cooled in the first quarter but was slightly higher than expected, prompting a sell off in the country’s bond and currency markets on Wednesday....
...Driven by a fall in food prices, it was also lower than the rate of price growth in the US for the first time since March 2022....
...Consumer prices rose at an annual rate of 3.2 per cent, down from 3.4 per cent in February, the Office for National Statistics said....
...BNP Paribas is betting momentum in its investment bank will help drive earnings growth this year even as its bond traders underperformed Wall Street peers in the first quarter....
...Average UK house prices fell 1 per cent in March from February, marking their first fall after five consecutive monthly rises and surprising economists who had expected a slight increase....
...The UK’s inflation rate fell sharply in February, bolstering arguments for the Bank of England to start cutting interest rates this year as it makes headway in bringing price growth under control....
...The data will be closely scrutinised by the European Central Bank, which is expected to begin cutting interest rates in June as inflation falls close to target while growth remains sluggish....
...Most economists and the Bank of England expect headline inflation to drop below the BoE’s target of 2 per cent from the spring, reflecting the fall in the energy bills cap from April....
...Office for National Statistics data on Wednesday showed that an index based on car insurance prices had fallen by 1 per cent in January, the first month-on-month drop since February 2022....
...But the Fed was not the only central bank that markets deemed surprisingly dovish. Two days before the Fed, the Bank of Japan wrapped its first interest rate increase in 17 years in dovish packaging....
...Having ridden out a deposit flight that led to the collapse of Silicon Valley Bank and First Republic last year, the challenge for many will be finding a way to increase profits again in 2024....
...Inflation in Spain fell in line with forecasts to 2.9 per cent in February, taking it back below 3 per cent for the first time in six months....
...European house prices fell for the first time in a decade last year, as strong growth in the property markets of some eastern and southern countries was masked by declines in many northern EU states....
...Official data this month pointed to softer conditions in the UK labour market, as slightly slower wage growth combined with a fall in job vacancies, stalling growth in the number of payrolled employees,...
...The €12.2bn monthly drop in eurozone private sector lending in January, reported by the European Central Bank on Tuesday, is the first such decline since August....
...In March, the BoE forecast that headline inflation would temporarily fall below the 2 per cent target in the second quarter....
...Home sellers in Missouri won the first major case against the NAR and several large brokerages in a jury trial last October, obtaining nearly $1.8bn in damages....
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