Banks poised to call back billions in Covid loans

Fears for small firms as banks prepare to claw back billions in Covid loans HSBC, NatWest, Barclays and Lloyds have begun sending letters to customers  Banks are allocating hundreds of extra staff to spearhead the recovery efforts They have handed out more than £75bn to 1.6m firms under Government scheme By Helen Cahill and Emma … Read more

Liberty Steel owes ‘billions’ to collapsed financial firm Greensill Capital

The founder of Liberty Steel has revealed that the company owes ‘many billions’ to collapsed financial backer Greensill Capital but insisted none of its plants will shut down ‘under my watch’. Labour has called on ministers to provide clarity on the future of Liberty Steel’s UK plants amid fears that thousands of jobs could be … Read more

Hedge fund crisis wipes billions off value of big banks after Viacom share price fall

Billions of pounds have been wiped off the value of big banks after a meltdown at a hedge fund. Credit Suisse and Nomura of Japan face a huge hit to their profits after bets placed by their client, Archegos Capital, turned sour. The crisis could cause major losses for British investors exposed through ISAs, pensions … Read more

Payout hope for thousands of tainted blood victims who could be handed billions in compensation

Payout hope for tainted blood victims: Thousands whose lives were blighted by the scandal could be handed billions of pounds in compensation after 40-year battle for justice Thousands treated by the NHS in 1970s and 1980s contracted HIV and hepatitis  Government never admitted liability and victims didn’t receive compensation Penny Mordaunt said a reviewer would … Read more

UK’s tax burden is set to hit highest level since 1960s as Rishi Sunak raises billions

Budget 2021 at a glance Here are the main points of Rishi Sunak’s Budget today: Office for Budget Responsibility (OBR) predicts economy will return to pre-Covid levels by the middle of 2022, six months earlier than previously though. OBR forecast economy will grow this year by 4 per cent, by 7.3 per cent in 2022, … Read more

Pensions billions could be freed up to help regenerate Britain

Pension funds could be given green light to invest hundreds of billions of pounds in building up Britain as part of Chancellor’s Covid recovery plan By Emma Dunkley, Financial Mail On Sunday Published: 21:50 GMT, 27 February 2021 | Updated: 21:50 GMT, 27 February 2021 Pension funds could be given the green light to invest … Read more

Robert Jenrick reveals homeowners in tall buildings will get billions to replace dangerous cladding

Homeowners will get billions of pounds of taxpayers cash to replace dangerous cladding in high-rise buildings, it was confirmed today – but only if they were above a certain height. Housing Secretary Robert Jenrick unveiled long-awaited help for victims of the cladding scandal that emerged in the wake of the 2017 Grenfell Tower disaster. But … Read more

Billions on way for victims of the cladding scandal

Long-awaited help for victims of the cladding scandal will be announced by the Government today. Housing Secretary Robert Jenrick will pledge state assistance for many of those hit with huge costs to repair their fire-risk homes. Whitehall sources say under the plan no leaseholders in buildings above 18 metres or six storeys will have to … Read more

Property sales worth billions are at risk over cliff-edge when stamp duty holiday ends, MPs warn 

Property sales worth billions are at risk over cliff-edge when stamp duty holiday ends, MPs warn MPs have warned thousands of house sales at risk when stamp duty holiday ends Cross-party debate heard billions of pounds risked unless tax cut was extended Homebuyers now face anxious wait for Rishi Sunak’s March 3 Budget By Martin … Read more

Joe Biden freezes billions of dollars of arms sales to the Middle East including F-35s to the UAE

Joe Biden freezes billions of dollars of arms sales to the Middle East including F-35s to the UAE and smart bombs for Saudi Arabia State Department says deal for 50 F-35s for the United Arab Emirates is frozen while it is reviewed along with munitions deal for Saudi Arabia Trump administration rushed through last-minute deals … Read more