Rolling coverage of the latest economic and financial news, as De La Rue warns of ‘material uncertainty’ about whether it can continue as a going concern
- De La Rue hits City with another warning
- Loss of Brexit passport lingers
- ‘Material uncertainty’ over its future as dividend scrapped
- Introduction: Alibaba floated in Hong Kong today
- Shares leap 6.5% in vote of confidence
Ouch! Wall Street bank Citi has been fine £44m by the Bank of England for serious errors in reporting its capital and liquidity positions.
“Citi failed to deliver accurate returns and failed to meet the standards of governance and oversight of regulatory reporting which we expect of a systemically important bank.”
While Citi remained in surplus to its liquidity and capital requirements at all times, the failings persisted over a significant length of time and were serious and widespread in nature.
Sterling continues to be knocked around by the latest political developments, as the general election race heats up.
The pound has shed half a cent this morning, to $1.285, after an opinion poll showed Boris Johnson’s lead over Jeremy Corbyn has narrowed.
New Kantar election poll:
Conservatives: 43% (-2)
Labour 32% (+5)
Liberal Democrats 14% (-2)
SNP 4% (nc)
Green 4% (+1)
Brexit Party 3% (+1)
Other <0.5% (-2)
(21 – 25 November 2019):