20 h. ago Bank of England boss warns 'shadow banking' has echoes of the 2008 financial crisis

Bank of England governor Andrew Bailey (pictured) said 'alarm bells' were ringing over risky lending in the unregulated private credit market.

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22 h. ago Alarm bells ring over risky lending: Bailey orders stress test into 'shadow banking' amid fears of a new financial crisis

Bank of England governor Andrew Bailey (pictured) said 'alarm bells' were ringing over risky lending in the unregulated private credit market.

Events

38 h. ago Andrew Bailey warns ‘alarm bells’ ringing over private credit market

BoE governor draws parallel with practices before 2008 financial crisis

Events

40 h. ago BoE’s governor says ‘alarm bells’ ringing over private credit market

Andrew Bailey draws parallel with practices before 2008 financial crisis

Economics

40 h. ago BoE governor warns ‘alarm bells’ ringing over private credit market

Andrew Bailey draws parallel with practices before 2008 financial crisis

Events

3 d. ago ‘Disorder, fright and confusion’: looking back at the devastating Wall Street crash of 1929

Andrew Ross Sorkin’s new book 1929 takes readers back to the crash that changed the US and looks at what we can learn from it todayAndrew Ross Sorkin’s first book, Too Big to Fail, was a bestseller about the financial crisis of 2008, published the following year. His second, 1929, out this week, takes readers “Inside the Greatest Crash in Wall Street History – and How it Shattered a Nation”.It’s been 16 years between books, but Sorkin hasn’t been idle. A columnist for the New York Times, he founded its DealBook newsletter and summit; he’s a Squawk Box co-anchor for CNBC; and after Too Big to Fail was filmed by HBO, he co-created Billions, a huge hit for Showtime starring Damian Lewis and Paul Giamatti. Continue reading...

Events

5 d. ago Broken promises and political crises: how Emmanuel Macron fell from French favour

The president is seen to have accelerated the financial crisis, social inequalities and the rise of the far rightEurope live – latest updatesThree French governments have collapsed in less than a year, and the political crisis looks likely to continue, overshadowing Emmanuel Macron’s last 18 months in power and his domestic legacy.This week, the latest minority government narrowly survived its first vote of no confidence. But it remains the weakest cabinet in decades and could be toppled at any moment if opposition parties join together to oust it. France faces a brutal two-month battle in parliament to achieve what once seemed the most basic element of governance: passing a budget. Continue reading...

Politics

9 d. ago What do missed car payments mean for the economy? A trend that was ‘apparent before the Great Recession’

Last year, 1.73 million vehicles were repossessed, which is the highest number since the year following the 2008 financial crisis

Economics

9 d. ago Famed billionaire who predicted 2008 financial crisis reveals signs America is heading for pseudo 'civil war'

Ray Dalio, billionaire founder of Bridgewater Associates, warns the US is entering a 'civil war of some sort' amid debt and polarization. He likens the moment to the late 1930s.

Events

1 week ago Bank deregulation set to unlock $2.6tn of Wall Street lending capacity

US lenders expected to cement global dominance by a significant easing of post-financial crisis rules

Economics

1 week ago Americans are falling behind on car payments. Here’s why that could be a dark omen for the economy

Last year, 1.73 million vehicles were repossessed, which is the highest number since the year following the 2008 financial crisis

Economics

1 week ago First Brands: why a maker of spark plugs and wiper blades has Wall Street worried

Investors fear that the collapse of the car parts company – and the size of its debt – could portend wider problemsFinancial problems at the maker of spark plugs, wiper blades, brake calipers, brake shoes, tow hitches and motor oil has caused intense anxiety on Wall Street in recent weeks.Car parts are not usually something that causes finance chiefs to lose much sleep. But the potentially multi-billion dollar financial crisis surrounding First Brands has them rattled. Continue reading...

Politics

3 w. ago ‘I’m a prisoner in my own home and my life is on hold after collapse of vital NHS lifeline’

As a major supplier of wheelchairs and equipment to the NHS collapses, Rebecca Thomas reveals the story of one of the thousands of people hit by the provider’s financial crisis

Events

3 w. ago The next big financial crisis may be brewing. Warning signs are already there | Larry Elliott

The longer the period between crises, the greater the complacency. That complacency is pushing share prices ever-higherUS job creation has stalled and, despite the curbs on migration, unemployment is rising. Tariffs are pushing up the cost of imports. And Donald Trump is at war with the governor of his own central bank and wants him out.But traders on Wall Street are not bothered by the fact that inflation is above the target or that growth is slowing. Share prices are testing new record levels on an almost daily basis. Jerome Powell, the man Trump wants to be rid of, says stocks are “fairly highly valued”, which is an understatement if ever there was one. By historical standards, stocks are extremely highly valued. There is trouble – perhaps big trouble – ahead.Larry Elliott is a Guardian columnist Continue reading...

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