The central bank lent Lehman up to $18bn (£11.2bn) as part of a formerly undisclosed lending programme that specialised in month-long loans to banks and other financial institutions.
The disclosure of which banks tapped the programme, known as the single-tranche open-market operations, follows a request made by Bloomberg News under the Freedom of Information Act. MORE…
Queen’s property portfolio rises 13% in value
The Queen is set to see her income leap significantly after The Crown Estate, the organisation that owns property on behalf of the Crown, posted record annual profits of £231m.
The new Sovereign Grant gives the Queen 15% of The Crown Estate’s annual profits, reported the Telegraph.
The Crown Estate owns a diverse range of property, from Regent Street to most of Britain’s coastline, the value of which has increased by 12.9% over the last year to clear £7bn for the first time. MORE…
Interest rates to be held once more
The Bank of England’s Monetary Policy Committee is widely expected to hold base rate at 0.5% for the 28th consecutive month.
Mixed economic data suggests Britain’s recovery is still too fragile to support a rise in borrowing costs, the Daily Mail reported.
Economists are predicting the economy will have grown just 0.3% in Q2 when official figures are released later this month. MORE…
