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...Wall Street on Ozempic The novel weight loss drug is fuelling wild market predictions, from snack makers pivoting to produce, to airlines saving on fuel because of lighter passengers, The Wall Street Journal...
...However, competition in the savings and mortgage markets and expectations of rate cuts have weighed on interest margins....
...The flipside to higher interest rates is people also want more for their savings....
...The rate of inflation in the UK peaked at 11.1 per cent in October 2022 but has not yet come down to the Bank of England’s 2 per cent target....
...Over the following 12 months they expect the central bank to reverse course, cutting borrowing costs six times to around 3.8 per cent by November 2024....
...inequality increasing savings and lower productivity and growth rates reducing the desire for investment....
...Inside Bridgewater’s black box In the late 1960s the New York socialite Isabel Leib was vexed....
...The bank’s former CEO Lloyd Blankfein....
...Bridgewater’s short position was smaller in percentage terms but a similar size in sterling terms....
...Yet investors should take heart from the more than $800mn in cost savings now expected from the Bank of the West acquisition, up by 20 per cent from initial forecasts....
...But banks are finally having to pass on higher savings rates to depositors, according to JPMorgan and Wells Fargo, which also reported earnings....
...From the bank: When can we expect sagging S&L tax revenues to moderate consumption and gross investment growth?...
...Group operating costs fell 3 per cent, driven by £200mn of efficiency savings....
...Most notable among them was National Savings & Investments, the state-owned savings bank, which raised the interest rate on its one-year fixed bond from 5 per cent to 6.2 per cent in August....
...The writer is a former chief investment strategist at Bridgewater Associates European equity markets are starting 2024 following a familiar pattern: underperforming US peers in local currency terms....
...Will inflation eat into my savings and investments? Cash had appeal in 2023 due to climbing interest rates, but savings rates have started to fall in anticipation of the BoE making cuts....
...When Duffy joined as head of CYBG in 2015, Crosbie was chief operating officer, a role she held for four years until she left to run TSB Bank....
...This has remained the same since 2016, so is more easily eclipsed by returns from the higher bank savings rates of recent times....
...A European Central Bank survey showed eurozone banks have been hit by a “substantial” drop in loan demand from companies, reflecting lower investment plans....
...Exclusive: Bridgewater’s Bob Prince says the Fed’s rate-cutting hopes are ‘off track’ because of persistent inflation and hot US growth....
...banks....
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