Britons spend 10 per cent of their salary on their holiday, but are less willing to splash out on insurance August 1, 2016 Holidays are becoming a serious investment. British tourists splash the cash on their trips, spending 10 per cent of their annual salaries on average, according to research from Nationwide FlexPlus. One in 10 will splurge even more, spending anything between 20 and 30 per cent of their yearly income on their sojourns in the UK or [...]
Bank of England confirms plans for additional stress tests for UK banks October 3, 2016 The Bank of England will push ahead with plans for an extra set of stress tests next year in order to assess the ability of the UK’s top lenders to weather a financial storm. The Bank’s Financial Policy Committee (FPC) confirmed today it will put the UK’s seven biggest banks and building societies through an [...]
As Santander slashes rates on its market-leading 123 account, will this be a lost decade for Britain’s savers? August 15, 2016 Danny Cox, a chartered financial planner who works at Hargreaves Lansdown, says Yes. The nightmare for savers continues with little sign of respite. The few bright spots, such as the Santander 123 account, are following an inevitable path of rate decline. Savers now face a lost decade of returns on their cash. Inflation rises on the horizon [...]
RBS to introduce negative interest rates on corporate investment accounts August 19, 2016 The Royal Bank of Scotland (RBS) is to start charging some of its top corporate clients to hold cash with the bank. RBS wrote to some of its largest investment banking customers this week to tell them it could no longer let them keep cash held as collateral in their accounts for free and will impose negative interest rates from [...]
City Moves for 6 September 2016 | Who’s switching jobs September 6, 2016 CBRE Sir Edward Lister has been appointed as a consultant to CBRE, the global real estate advisor. Sir Edward was most recently the mayor of London’s chief of staff and deputy mayor for policy and planning. In his new role, he will work with CBRE’s One London team in advising its clients on public sector engagement [...]
This is how sterling’s unstoppable slide will affect UK house prices October 12, 2016 After a freak six per cent fall when markets opened in Asia last week, sterling is in free fall. The fall obviously has implications for people going abroad – but what about people here at home? We asked the experts what the flash crash will do to UK house prices. Read more: This is how the [...]
These are the 10 areas of the UK where demand for homes is growing fastest July 19, 2016 Demand for London homes dropped in the second quarter of this year. But, despite this, two of the capital's boroughs topped the charts in terms of growing interest. Appetite for houses in the capital shrunk by two per cent between the first and second quarter to 39 per cent, according to Emoov’s National Hotspots Index. Read more: [...]
Bank of England’s new stress test: Barclays, HSBC, Lloyds, Nationwide, RBS, Santander UK and Standard Chartered to face risk tests twice a year October 21, 2015 The Bank of England has today announced that it will apply new stress tests to Britain's biggest banks and building societies over the next three years, taking into account both domestic and global risks. Barclays, HSBC, Lloyds, Nationwide, RBS, Santander UK and Standard Chartered will face at least two stress tests per year under the [...]
Banks agree to dish out Carney’s £150bn loan windfall July 5, 2016 The UK's biggest lenders have agreed to dish out up to £150bn in extra loans to households and businesses after George Osborne and Mark Carney heaped pressure on them to prop up the economy after the EU referendum. This morning, Carney announced a cut to major UK banks' capital requirements which will reduce the amount of capital [...]
City Moves for 16 August 2016 | Who’s switching jobs August 16, 2016 Business Growth Fund Business Growth Fund has expanded its team with the appointment of Paul Stevens, who joins from Octopus Investments. Based in the London office, Paul will focus on identifying investment opportunities in AIM listed companies as part of the BGF Quoted offering, which is led by Gavin Petken and Tom Jenkins and supported [...]