1. No post-SVB ‘flight to quality" just yet, says Lloyds chief
Speaking at a Morgan Stanley (NYSE:MS) (Morgan Stanley (NYSE:MS)) event on Tuesday, Nunn explained that the collapse of the specialist lender was "relatively idiosyncratic compared to the UK," and therefore, British banks had not experienced the same level of banking turmoil and stock market rout as their American counterparts.
2. Rolls-Royce has a “clear route to better cash flow”, says American bank
Citi said it has taken a deep dive into the finances to assess the potential impact of new chief executive Tufan Erginbilgic’s “as yet unquantified turnaround plan”.
3. FTSE 100 gains strength at the close to finish in the green
At the close, the UK's blue-chip index was up 1.2% at 7,637 points following a strong trading day helped by positive US inflation data.
4. Facebook parent Meta to lay off another 10,000 workers
Announcing the move in a Facebook post, Meta CEO Mark Zuckerberg said the layoffs would take place over the coming weeks, starting with notifying impacted members of its recruiting team tomorrow.
5. Binance halts British pound transactions, loses banking partner Paysafe
The news comes as Paysafe, Binance’s UK banking partner for facilitating fiat on-ramps and off-ramps, cut tied with the Caymans-registered crypto exchange, citing local regulators’ approach to cryptocurrencies.