Headlines
- Bank of England raises interest rate to 4.5% and warns of delay to hitting inflation target
- BBC review finds outgoing chair Richard Sharp breached code of practice
- Rolls-Royce boss forced to defend 'burning platform' comment at AGM
- Revolut hit by departures of CFO and UK banking chief
Overview
- The Bank of England on Thursday raised its key interest rate by a quarter of a percentage point to 4.5 per cent, and warned it would not hit its inflation target until 2025.
- The BBC has found that former chairman Richard Sharp breached its code of practice by failing to disclose discussions relating to a "possible loan by a third party" to then prime minister Boris Johnson.
- The chief executive of Rolls-Royce was forced to defend his description of the British engine maker as a "burning platform" at its annual meeting, telling shareholders that he had been trying to drive home the fact that the company was "underperforming" and his plan to boost the company's profitability was moving "at pace".
- Revolut has lost its UK banking chief executive James
Radford and group chief financial officer Mikko Salovaara, even
as it draws scrutiny from regulators, causing further delays in
the company's plan to secure a UK banking licence.
(Compiled by Bengaluru newsroom)
