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0.00296027874564457 0.00462717770034841 0.00686829268292679 0.00354564459930321 0.00318327526132406 0.000381881533101015 0.00264808362369338 -0.00079999999999997
Stock impact report

Bankers may be pariahs, but they are Britain's great strength [Yahoo! Finance]

First Citizens BancShares, Inc. - Class A (FCNCA) 
Company Research Source: Yahoo! Finance
Financial services have not had a good write up since the global financial crisis when the UK government was forced to commit nearly £1tn to save the economy from ruin. Even though the eventual cost was much lower, memories of bankers paying themselves generous bonuses throughout continue to rankle with members of the public. Stepping in to support banks is never easy for a Chancellor , as I found during the rescue of Silicon Valley Bank's London subsidiary in 2023. But the world has changed dramatically since 2008. Whether the Government wants to or not, it is going to have to spend more on defence – as events in Iran have shown . Borrowing costs may well soar. So with public finances stretched to breaking point, it's time to recognise more explicitly the extent to which financial services are a major contributor to our economy. Together with insurance services, they account for around 8 per cent of our output and generate over £70bn in tax receipts. If you add on professional s Show less Read more
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