Mr Griffith has sought the assistance of government officials to explore the possibility of incorporating free speech protections into banking licenses, as disclosed by Whitehall sources. This proposed measure would entail the revocation of a bank’s license if it discriminates against a customer based on their political beliefs. Furthermore, payment service providers and banks will …
The number of initial public offerings (IPOs) on the London Stock Exchange (LSE) saw a significant decline in the first half of this year, posing a challenge for efforts to revive the City’s stock market. According to a report by EY, the LSE experienced a nearly 30% drop in listings between January and June compared …
According to Andrew Griffith, the economic secretary to the Treasury, a wider share ownership is beneficial for savers, the economy, and society as a whole. In addition to its economic benefits, increasing individual share ownership also aims to shift the culture, attitudes towards risk, and promote individual responsibility. A think tank called the Centre for …
With the continued rise in interest rates, leading to an increase in the Bank Base Rate linked reversion rate, customers are opting to refinance earlier, resulting in less time spent on the higher reversion rate than anticipated, compared to previous trends. Precise Mortgages expects that their customers will now spend an average of five months …
The division within the Labour party regarding the expansion of the Ulez scheme in outer London has deepened as Sir Keir Starmer has expressed his support for the party’s candidate in the Uxbridge by-election, who believes the scheme should be postponed. Danny Beales, the Labour candidate, has openly stated that it is currently not the …
The Financial Conduct Authority (FCA) is currently conducting an investigation into the suitability of hedge fund manager Crispin Odey to work in the industry. The probe is centered around allegations that Odey dismissed the executive committee at Odey Asset Management for an improper purpose. The FCA has been quietly looking into Odey’s conduct for the …
A rising trend in social media has emerged, known as ‘cash stuffing,’ where individuals mark envelopes for various spending categories such as food shopping or entertainment and fill each envelope with the corresponding amount of cash budgeted for that week. However, caution should be exercised when considering this method, as the security of one’s money …
Last week, Mr. Farage expressed his frustration after his bank accounts were closed abruptly and other high street lenders refused to accept his funds. Similarly, Reverend Richard Fothergill, an Anglican vicar, claimed that his Yorkshire Building Society account was shuttered shortly after he complained about the bank’s messaging during Pride month. While Yorkshire Building Society …
In a surprising turn of events, new data reveals that the total amount withdrawn from ATMs has increased for the first time in five years, debunking the belief that Covid lockdowns would eliminate the use of cash. According to Link, the ATM network, banking customers withdrew a total of £83bn from cash machines last year, …
UBS is expected to lay off more than half of the workforce at Credit Suisse starting next month, following its emergency takeover of the struggling 167-year-old lender. This move is part of UBS’s plan to eventually reduce its total combined headcount by 30% or 35,000 people, as reported by Bloomberg. Currently, Credit Suisse has 45,000 …