1. Musk and Twitter back on
When backing large acquisitions, banks sell the debt to remove the risk from their books. But the turning tides of the financial markets in recent weeks could lead to losses for the banks in the hundreds of millions of dollars, industry experts told Reuters.
2. Tesco’s interims highlights the high street battle
Shopping habits are changing with consumers buying more own brand goods, buying less in their weekly shop and being prepared to jump around from store to store in a bid to get more with their weekly budget.
3. Royal Mail, now International Distributions Services, will focus on Covid tests during strikes as cases surge
In a statement, the postal service said it will “prioritise the delivery of Covid test kits and medical prescriptions wherever possible” on the day of the strikes.
4. FTSE 100 finishes in negative territory after Truss speech fails to calm investors
The FTSE lost 0.5% at the close to finish at 7,053 points.
5. Mortgage borrowers stress over interest rate hikes
Stress testing was rolled out in the aftermath of the financial crisis to stop banks lending to borrowers who could not afford repayments if rates were to rise in the future.