Nigel Farage receives apology from BBC over Coutts account closure reporting July 24, 2023 The BBC has apologised to Nigel Farage for suggesting he lacked the funds needed to hold an account at Coutts after the private bank cut ties with the former Ukip leader. The BBC’s business editor Simon Jack made the apology after a story published by the corporation suggested Mr Farage had his account shut for [...]
FTSE 100 close: Barclays, HSBC and Lloyds retrace losses as Ocado soars July 24, 2023 London’s FTSE 100 retraced early losses today to close in the black, driven higher by online supermarket Ocado surging after it settled a dispute over its warehouse technology. The capital’s premier index climbed 0.19 per cent to 7,678.60 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the [...]
Federal Reserve and European Central Bank may back final rate rises this week, experts bet July 24, 2023 US Federal Reserve and European Central Bank officials could launch their final interest rate rises this week as inflation ebbs in their respective economic blocs, experts are betting. Members of the federal open market committee (FOMC) are on Wednesday tipped to raise borrowing costs 25 basis points to a range of 5.25 per cent and [...]
Bank bosses to discuss account closures with Treasury – reports July 23, 2023 Bosses of the UK’s major banks and financial firms have been called in for a meeting with City minister Andrew Griffith over the closing of bank accounts. According to a report from the BBC, the Treasury has drafted a letter to banks saying the issue of “client de-banking” had raised “significant concern” in parliament. Griffith [...]
Banks in line for another round of bumper profit amid savings rate row July 23, 2023 The UK’s largest banks are set to report another round of bumper profits this week amid the furore over savings rates and growing concern about the health of the UK economy. Lloyds, Natwest and Barclays are expected to report another strong set of figures for the second quarter thanks to the impact of rising interest [...]
BBC: Nigel Farage Coutts bank account story has been ‘clarified and amended’ July 21, 2023 The BBC has amended a story about Nigel Farage’s Coutts bank account after coming under fire from the politician for suggesting he lacked the funds needed to hold an account. The former Ukip leader said he was lodging a formal complaint over the reporting. The BBC’s business editor, Simon Jack, wrote in a Tweet that [...]
Natwest boss apologises to Nigel Farage over Coutts account closures July 20, 2023 Dame Alison Rose, chief executive of Natwest, has apologised to former UKIP leader Nigel Farage for “deeply inappropriate comments” made about him in official papers and has ordered a review of Coutts processes after the bank closed his accounts. “I believe very strongly that freedom of expression and access to banking are fundamental to our [...]
Explainer: What’s going on with Farage’s bank account July 20, 2023 Coutts, a prestigious private bank owned by Natwest, is under pressure after it emerged that Nigel Farage’s bank account had been closed, ostensibly for his political opinions alone. The story has caused a furore and, with politicians wading in, it could even spark a set of new rules which would prevent banks ‘debanking’ customers with [...]
Coutts’ Farage decision is a blunder but it’s none of Sunak’s business July 20, 2023 Coutts should have the ability to decide who it grants its services to. But essential to financial services are really boring things like certainty, predictability and trust.
Farage: Government right to consider Natwest licence over Coutts brouhaha July 20, 2023 Nigel Farage has praised the Government following reports ministers are considering making new laws to stop banks closing customers’ accounts because they disagree with their political views. The former Ukip leader said MPs are “beginning to realise that this system is coming for them as well” after his bank accounts were closed by Coutts because his views [...]