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22.10.26 - 08:54
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Barclays profits jump ahead of looming bank tax; French bond yields hit fresh 24-year high – business live (The Guardian)
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French risk premium over German bonds widest since 2011 as oil prices climb above $111 a barrelGood morning, and welcome to our rolling coverage of business, the financial markets and the world economy.Barclays' profits jumped in the last quarter and it handed more cash to shareholders as further bank taxes looms in John Healey's budget next Wednesday.I am pleased with the ongoing momentum of Barclays' operational and financial performance.With one quarter to go before the end of our original three-year plan, we have either achieved or are on track to achieve all of our 2026 group targets. We are confident in and committed to the 2028 targets that we laid out earlier in the year.A UK bank tax risk is now a base case. If it is confirmed on 28 October, it'll be the size and timing that will be key. If Healey does go ahead, shares of Lloyds and NatWest, which are almost entirely exposed to the UK, would likely be impacted most, and you are seeing this already in the share price reaction today. Barclays i...
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25.02.26 - 18:51
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One In Five California Home Sales Canceled Due To Unaffordable Insurance (ZeroHedge)
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One In Five California Home Sales Canceled Due To Unaffordable Insurance
Authored by Mike Shedlock via MishTalk.com,
Ponder a $44,000 insurance bill. This does not count as inflation in the CPI.
Dysfunction in California's Insurance Market
The Wall Street Journal reports A $44,000 Bill Shows the Dysfunction in California's Home-Insurance Market
Glenn and Lorraine Crawford paid about $500 a month to insure their home in Agoura Hills northwest of Los Angeles when they bought it in 2012.
The Crawfords say they have little alternative but to pay the bill that arrived last month, which, at more than $44,000 a year, is almost as much as their mortgage bill. The only other insurer willing to cover their home, Lloyd's of London, quoted them $80,000 a year.
More than a year after infernos tore through Los Angeles County, millions of Californians like the Crawfords are suffering through a home-insurance crisis that has rolled on for years with eye-watering rate increases, canceled policies and rejec...
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