Mizuho, the Japanese bank that has so far suffered the largest subprime-related losses, boosted net profits by nearly 17 per cent to Y133bn ($1.23bn) in the three months to June, whereas bad loan-related costs led Sumitomo Mitsui Financial Group to report a 51 per cent drop in net profits to Y58bn
House prices in England and Wales fell for the tenth month in a row during July, losing a further 1.2% of the value, figures showed today
Buy-to-let landlords are continuing to benefit from strong rental demand as the property market takes a hit, according to new figures
The company says its hedge funds have shrunk by a quarter, pushing first-half profits down 45%, as inflows fall, withdrawals double and its largest funds record big losses
Ireland’s sputtering economy comes under renewed focus as the country’s biggest lender reports a drop in first half pre-tax profit and cut its full-year earnings forecast
The UK subprime lender reports a 34% rise in first-half profits as tighter credit conditions offers it an opportunity to expand its services to low-income householders
Scottish Widows relaxes restrictions on investors leaving its £2bn of property life and pension funds after an emergency sale managed to restore a safe level of liquidity
Banks have been given a one-year reprieve by US accounting standard-setters from having to take up to $5,000bn of debt assets on to their balance sheets, easing fears that they would be forced to raise large amounts of new capital quickly
More than a million policyholders to share pay-outs after the UK’s biggest insurer struck a deal to free £4.4bn in two life funds
Six of the US’s independent over-the-counter brokers will on Thursday announce they are uniting to form an interdealer brokerage that will be a leading force in trading North American energy futures