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18/02/2023

The UK will avoid recession – but for up to 7 million Britons it will still feel like the economy is in reverse gear.

That at least is the headline from research by the respected National Institute of Economic and Social Research (Niesr).

Although the country may avoid a technical recession, characterised by two consecutive quarters of contraction, Niesr has warned that the rising cost of living will still make life tough for lower-income households, especially in the North East, Scotland, Wales and Northern Ireland.

18/02/2023

Powell said on Tuesday that he was expecting to see "significant" declines in inflation this year, but also acknowledged that interest rates may need to rise further amid job market strength.

Victoria Scholar, head of investment at Interactive Investor, said: "The FTSE 100 has hit a fresh record high, surpassing its all-time peak from Friday with BP (LON:BP) and Glencore (LON:GLEN) leading the charge while Smurfit Kappa is dragging on the index.

17/02/2023

British lawmakers have accused HSBC (LON:HSBA) of mistreating customers who have fled Hong Kong in the wake of China's anti-democracy crackdown, to protect the bank's profits and curry favour with the Chinese government, a report on Wednesday showed.

The All-Party Parliamentary Group on Hong Kong said the lender had blocked some overseas residents of the former British colony from withdrawing pension contributions made to the island's Mandatory Provident Fund, despite deciding to quit Hong Kong.

"Like all banks, we have to obey the law, and the instructions of the regulators, in every territory in which we operate," a spokesperson for HSBC said.

17/02/2023

LONDON (Reuters) -Shares in German web hosting company IONOS dipped below the price of its initial public offering (IPO) on Wednesday after Europe's first major stock market debut since Porsche (ETR:P911_p) in September.

Shares started trading at 18.40 euros apiece and were changing hands at around 18.00 in morning trading. Books closed on Tuesday with a final IPO price of 18.50 euros, the company said.

The listing of IONOS, whose closest peer is U.S.-based GoDaddy, was seen as a test for market sentiment after IPO activity all but ground to a halt in 2022.

16/02/2023

AMSTERDAM (Reuters) -ABN Amro shares rose to their highest level in three years on Wednesday after the Dutch lender announced a new share buyback helped by stronger-than-expected fourth-quarter earnings.

Largely state-owned ABN, one of three dominant banks in the Netherlands, said it would buy 500 million euros ($538 million) of its shares in the first half, as it reported a net profit of 354 million euros for the last three months of 2022.

16/02/2023

Iceland's central bank raised its key policy interest rate by half a percentage point to 6.5% on Wednesday, its first rate hike in 2023, and warned of further monetary tightening to bring down inflation, which has anchored itself in the economy.

The central bank's Monetary Policy Committee (MPC) estimated economic growth in 2022 of 7.1%, above its November forecast of around 5.6%, but said it expects growth in 2023 to weaken to 2.6%

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