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End of Cheap Money for U.S. Farmers Plows Trouble Into Food Production
Date: November 22, 2022
By P.J. Huffstutter and Bianca Flowers CHICAGO (Reuters) – Montana farmer Sarah Degn had big plans to invest the healthy profits she gleaned for her soybeans and wheat this year into upgrading her planter or buying a new storage bin. But those plans have gone by the wayside. Everything Degn needs to farm is more...
Virgin Money Shares Leap on Higher Profit, Investor Payouts
Date: November 21, 2022
By Iain Withers LONDON (Reuters) -Shares in British lender Virgin Money leapt 16% on Monday after it reported a jump in full-year profit and investor payouts, as Bank of England rate rises lifted its finances despite a looming economic downturn. Virgin Money reported pre-tax profit of 595 million pounds ($703 million) for the year to...
Analysis-Twitter’s ‘massive’ Revenue Drop Adds to Heavy Debt Burden
Date: November 7, 2022
By Matt Tracy NEW YORK (Reuters) – Elon Musk’s revelation that Twitter has suffered a “massive” revenue drop since he took over 10 days ago underscores the precarious nature of the social media company’s finances after he saddled it with $13 billion in debt, credit experts say. Musk tweeted on Friday that Twitter was losing...
Barclays Beats Forecast on Trading Boom, but Bad Loan Charges Rise
Date: October 26, 2022
By Lawrence White and Iain Withers LONDON (Reuters) -Barclays beat forecasts with a small rise in third-quarter profit on Wednesday lifted by a record performance in fixed income trading, but costs and loan charges crept higher in a sign of ongoing challenges. The British bank made a profit before tax of 2 billion pounds ($2.3...
Moody’s Flags Oct 21 as Crucial Date for UK Rating
Date: September 30, 2022
By Marc Jones LONDON (Reuters) – Moody’s top European analyst has flagged Oct. 21 as the next crucial date for Britain’s credit rating following the firm’s negative assessment this week of the government’s new debt-fuelled spending plans. Rating firms set out when they intend to review European governments’ creditworthiness before the start of each year...
UK Credit Card Borrowing Rises by Most Since 2005 – BoE
Date: August 30, 2022
By David Milliken LONDON (Reuters) – British credit card borrowing grew at the fastest pace since 2005 in the 12 months to July, Bank of England data showed on Tuesday, in a potential sign that some households are struggling to make ends meet as the cost of living soars. Credit card borrowing rose by a...