AGP Executive Report
Last update: 11 hours agoBudget and markets: Britain issued five-year debt at its highest borrowing cost since 2008 ahead of Wednesday’s Budget, adding pressure on John Healey to reassure investors. Business confidence is weak: the British Chambers of Commerce says just 17% of firms plan to increase investment, while business distress has reached a two-decade high. Banks and tax: HSBC’s third-quarter profit rose 32%, but its shares fell, renewing calls for a bank levy. The lender says it is under no pressure to move its UK headquarters. Digital banking: Revolut launched unsecured personal loans in Britain from 6.9%, stepping up competition with high-street banks. The Bank of England has also ordered a review of Revolut’s internal controls. Fund innovation: Aviva Investors tokenised a share class of its £22bn sterling fund on the XRP Ledger, bringing blockchain technology further into mainstream UK asset management.
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