(Bloomberg) -- Welcome to the start of what looks to be another long week for banks across the globe. Shares of HSBC and Standard Chartered were tumbling in Asia trading this morning, and City peers including Barclays Plc will be in focus as well, with one of the key questions being: Did Sunday’s rescue deal for Credit Suisse and coordinated central bank action manage to calm markets? 

Here’s the key business news from London this morning:

In The City

HSBC Holdings Plc: Shares of European banks traded in Asia tumbled on Monday, as investors weighed a collapse in the value of additional tier 1 bonds issued by lenders following the terms of the Credit Suisse Group AG’s rescue. 

  • HSBC fell as much as 6.6% in Hong Kong trading, the biggest drop in nearly six months, with its newly issued AT1 bond declining more than 5 cents. Standard Chartered Plc slid as much as 5.6%

Newcleo: The London-based company, which develops small nuclear reactors powered by radioactive waste, started a plan to raise as much as €1 billion.

  • The firm will use the new funds to further develop its lead-cooled fast nuclear reactors and its plants to manufacture fuel from nuclear waste 

FirstGroup Plc: The bus and rail operator has agreed with the Department for Transport to extend the current arrangements for the West Coast Partnership rail contract to Oct. 15 under “broadly” the same terms. 

In Westminster

The Bank of England is expected to push through yet another increase in interest rates, one of the key events set to shape a turbulent week for the UK economy and Rishi Sunak. With markets roiled by the takeover of Credit Suisse, policy makers in government and at the central bank are set to explain their handling of the economy in a series of high-profile appearances. Here’s a guide to how the week will shake out. 

In Case You Missed It

Britain’s property owners are continuing to bump up asking prices despite fears of a slump in the housing market. The average asking price of homes put up for sale climbed 0.8% to £365,357 in March compared with the previous month, according to data from property portal Rightmove.

Looking Ahead

Oxford Nanopore Technologies Plc is among companies reporting results tomorrow, with analysts expecting an adjusted net loss of £88 million for 2022. That would mark a sharp improvement from a loss of about £168 million in the previous year. Shares of the DNA sequencing firm have lost more than half of their value since its 2021 listing. 

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