Business

Nationwide braces for customers failing to repay loans after strong summer

The UK’s biggest building society Nationwide is bracing for customers to struggle to repay loans after putting aside £139m for bad debts due to the pandemic.  The mutual, which has received more than 100,000 calls from members every month since the pandemic erupted in March, doubled its provision for loan losses from £57m a year ago. […]

Business

Buffett bets on big pharma and bails on banks

Warren Buffett is betting on big pharma as the sector swings up on the development of a Covid-19 vaccine and therapeutics. His company Berkshire Hathaway took new stakes in Merck and Pfizer during the third quarter, while also adding bets on AbbVie and Bristol-Myers Squibb, according to a new regulatory filing. Meanwhile, Mr Buffett’s conglomerate continued to cut […]