Interest rate rises will happen according to Miles
Aug19

Interest rate rises will happen according to Miles

UK interest rates will rise pretty soon, according to monetary policy member David Miles – as he prepares to leave his position in the Bank of England. Miles hit the news wires last night and claimed the time to raise rates from its current historic low was “coming”. During the last meeting Miles voted to maintain rates, his last vote on the Bank’s Monetary Policy Committee following 6 years in the role. Miles...

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Euro freefall – let it continue
Jun29

Euro freefall – let it continue

Greek banks will be closed until Tuesday, 7 July as part of capital control measures announced last night (28 June). Greece’s creditors were forced put forward a fresh set of reforms over the weekend after European officials rejected the Greek government’s proposals on Friday (26 June). With neither party willing to budge on reforms, Greece’s Prime Minister Alexis Tsipras has called for a deferral of Tuesday’s €1.6 billion...

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Grexit imminent
Jun27

Grexit imminent

Greece on the way out, as Eurozone finance ministers reject their request to extend a bailout programme beyond 30 June. A Eurogroup statement said Greece had broken off negotiations over a new bailout deal “unilaterally”. Late on Friday, Greek PM Alexis Tsipras called a surprise referendum for 5 July over the terms of any new deal. Greece has to pay €1.6bn (£1.1bn) to the IMF on Tuesday. Without new funds, there are fears...

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UK government borrowing falls in May
Jun19

UK government borrowing falls in May

A rise in income tax and VAT receipts helped to cut UK government borrowing in May, official figures have shown. UK government borrowing fell to £10.13bn in May, the Office for National Statistics (ONS) said, down from £12.35bn a year earlier. It was the lowest borrowing figure in May for eight years. Public sector net debt excluding public sector banks now stands at £1.5 trillion, the ONS said, which is 80.8% of gross domestic...

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International Money Transfers
May27

International Money Transfers

We live in a smaller world With borders for global capital increasingly blurring, new channels of money transfer are emerging thick and fast. The UK is one of the leaders in the fintech revolution, particularly in the money transfer sector, which is the focus of this report. With consistent rise in international money transfer and new, innovative services, only a minority of consumers now prefer banks ahead of any other modes of...

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What a joke as Ed Balls to get £88,000 ‘golden goodbye’
May11

What a joke as Ed Balls to get £88,000 ‘golden goodbye’

MP’s again showed that they are treated differently to everyone else when it was announced that Ed Balls will be one of the MP’s given huge windfalls to stand down after defeat at the general election. Ed Balls will get a £88,000 ‘golden goodbye’ for losing his seat as part of a £11.5 million package of public money handed to MPs no longer in Parliament. The former Labour frontbencher has earned a £33,000 “resettlement”...

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