profits but the money is rolling in as it benefits from high interest rates. and qatar looks to cash in on the world cup to boost its economy we have a special report from doha. financial markets reacted calmly as it emerged that rishi sunak is set to be the uk s next prime minister. the pound is broadly unchanged against the dollar and government borrowing costs stayed lower after commons leader penny mordaunt dropped out of the leadership race. but the new prime minister inherits a daunting in tray with the cost of living crisis soaring energy prices and rising inflation. not to mention the war in ukraine and brokering a good relationship with europe. our business correspondent theo leggett has more. the news that rishi sunak is the new leader of the conserve the new leader of the conserve the party and will therefore become the next prime minister of the uk is something international investors seem to have taken in their stride. there has certainly been no return to th
German Coalition Agree €32 Billion Corporation Tax Cut to Boost Economy
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they are selling their business in france essentially at a loss, and also, as happened when interest rates go up, you have a expected credit loss increasing, so they have had to make further provisions for that and really that would be expected in a rising interest rate environment. 50 expected in a rising interest rate environment. expected in a rising interest rate environment. so banks are auoin rate environment. so banks are going to do rate environment. so banks are going to do well rate environment. so banks are going to do well in rate environment. so banks are going to do well in this - rate environment. so banks are going to do well in this rising i going to do well in this rising interest rate environment as you say, but it is likely the new prime minister and the chancellor may get some profits from that, sort of increased taxes on banks s profits. yes, it looks that taxes on banks s profits. yes, it looks that way. taxes on banks s profits. yes, it looks that way
to head to build afternoon. what are the markets need to head to build on afternoon. what are the markets need to head to build on that? afternoon. what are the markets need to head to build on that? i to head to build on that? i think they need to head to build on that? i think they need to to head to build on that? i think they need to hear to head to build on that? i think they need to hear a to head to build on that? i think they need to hear a more - to head to build on that? i think they need to hear a more detail| to head to build on that? i think. they need to hear a more detail on how the government will ensure a sustainable fiscal position of the next few years. we have seen a big u turn on friday with a corporation tax cut, if we see more u turns on the income tax reduction, perhaps some efforts to control the cost of the energy price cap, then that should bolstered confidence in the longer run. we still damn i should see the market reaction to to improve. se