The US Federal Reserve has increased benchmark borrowing costs by 0.75% for the second time in a row, in the latest sign of the stronger measures being taken by central banks to try and tame runaway inflation.
Lloyds Banking Group and drugs giant GSK have raised their 2022 guidance after publishing robust half-year results today.
The UK’s biggest lender reported “continued business momentum” and said asset quality was strong despite the cost of living pressures. Profits were lower at £2.8 billion due to comparisons with last year’s release of pandemic impairment provisions.
GSK’s first set of results since the demerger of its consumer healthcare business revealed that it now expects sales growth of between 6% and 8%, compared with 5% and 7% previously.
