News Archive

It's time for Britain and Germany to join forces - and push Greece out of the euro

David Cameron could have a powerful ally in Angela Merkel if he will stand up against the ludicrous trick the Greeks have played on us all

Britain's worst bank? A history of NatWest and RBS outages and technical meltdowns

A total of 600,000 transfers were affected by a technical glitch in RBS Group banks RBS, Ulster, Coutts and NatWest accounts on 17 June, leaving thousands of customers without benefits, wages or other payments. It is the fifth outage in three years and, compared to former crashes, it is a relatively small one.

Tax review: George Osborne Mansion Speech to placate UK-based banks over financial crisis regulation

Chancellor George Osborne is set to propose a tax review in an attempt to keep banks such as HSBC and Standard Chartered in the UK during his Mansion Speech on 10 June.

UK economic growth slows to 0.3%

The rate of economic growth halved in the three months to the end of March, official figures show, marking the slowest quarterly growth for two years. The UK economy grew by 0.3% in the quarter, the Office for National Statistics (ONS) said. That compares with 0.6% in the last three months of 2014.

UK inflation rate falls to record low of 0.3% in January

The rate of UK Consumer Prices Index inflation fell to 0.3% in January, its lowest level since records began.

KC Chan promotes HK in Paris

Secretary for Financial Services & the Treasury Professor KC Chan began a week-long visit to Europe on December 1 to promote Hong Kong as the world's premium offshore renminbi centre.

Public borrowing at £7.7bn in October

Government borrowing fell to £7.7bn in October, official figures show, down £0.2bn from a year earlier.

Bank of England ‘will wait until after election to raise interest rates’

The Bank of England will wait until after the general election to raise interest rates as the threat of a resurgent eurozone crisis hangs over the UK economy, according to a leading thinktank.

Temporary guarantee will apply only to money temporarily deposited in a bank, for instance from a house sale or insurance claim.

Savings of up to £1m in collapsed banks are to be protected under new proposals from the Bank of England intended to avoid a Northern Rock-style run on a financial institution. The £1m limit will apply only to money temporarily deposited in a bank, for instance from a house sale or insurance claim, and will last for six months.

Obama doubles down on threat to act against 'tax inversions' by US firms

In the wake of a rare tactical victory for the White House, Barack Obama on Wednesday evening defended his threat to use controversial presidential powers to prevent companies from avoiding US taxes.

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