The annual stress test by BoE found that all eight major banks have enough capital. The test included a scenario with higher interest rates and a deep recession. No banks were required to submit revised capital plans. The Bank of England (BoE) reported on Wednesday that none of the eight major institutions subjected to its … Read more
Samsung Display will stop producing LCDs at the end of June, six months ahead of the previously planned deadline. According to industry sources, competition was too strong, and Samsung Group wished to reduce its losses. Samsung Display will concentrate on producing OLED and QD panels, with staff expected to transfer to the QD division. According … Read more
LONDON: The Bank of England (BoE) will likely hold interest rates at their record lows on Thursday, as policymakers balance decade-high inflation against the economic fallout of the Covid-19 Omicron variant. The BoE’s monetary policy committee will announce its latest decision at 1200 GMT, in a whirlwind 24 hours that includes interest rate calls from both … Read more
LONDON: The Bank of England policymaker Michael Saunders, who voted for an interest rate hike last month, said on Friday he wanted more information about the impact of the new Omicron coronavirus variant before deciding how to vote this month, Reuters reported. Saunders said Omicron might slow Britain’s economy but it could also add to inflation pressures … Read more
