UK Banks Face Mortgage Risk as Flood Damage Hits Homes
Also: the US plans its biggest gas plant yet.
Banks in the UK are under pressure to prove they’re not underestimating the problem of flooding in their mortgage books. Today’s newsletter looks at the financial risks behind the country’s rainy start to the year, which resulted in the wettest January on record for many places.
Meanwhile in the US, President Donald Trump announced a Japanese-built natural gas plant that would be the largest in the country. His administration also extended the life of the J.H. Campbell coal plant in Michigan.