AGP Executive Report
Last update: an hour agoBanking: HSBC’s third-quarter pre-tax profit rose 32% to $9.6bn, but revenue missed forecasts and its shares fell nearly 7%, weighing on the FTSE 100. The results have revived calls for a bank tax ahead of Wednesday’s Budget, while Scottish finance leaders warn a levy could hurt growth. Cost of Living: UK shop price inflation climbed to 2.1% in October, its highest in two and a half years. Food inflation rose to 2.9%, adding pressure on households and the Chancellor as retailers warn rising costs are increasingly being passed on. Business Finance: More than 738,000 UK businesses are in significant financial distress, the highest level since records began in 2004. Hospitality, construction and property are among the sectors under strain. Fintech: Revolut has launched unsecured personal loans in Britain, stepping up competition with high-street banks. Aviva Investors has also committed £50m to a tokenised sterling fund share class on the XRP Ledger.
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