Chancellor Rachel Reeves delivered Labour’s first Budget in 14 years, announcing £40bn of tax rises, Central London Alliance comments
RBS-backed digital banking startup Loot enters administration May 22, 2019 Loot, the digital current account for students, has called in administrators after it was unable to secure funding following the collapse of a potential sale to the Royal Bank of Scotland (RBS). RBS owned a 25 per cent stake in the fintech firm through Natwest’s digital bank Bo, which is currently under development and invested [...]
From the World Cup to Ashes series and The Hundred: English cricket’s battle for hearts and minds May 21, 2019 With the biggest ever summer of international cricket about to start, featuring a men’s World Cup as well as men’s and women’s Ashes series, the sport faces perhaps its greatest challenge. But will such riches put cricket back in the public consciousness for the first time since 2005? That year’s Ashes series marked the end [...]
EE outage: EE resolves network issue that left users unable to make or receive calls over 4G May 21, 2019 EE customers were struck speechless today as the mobile provider suffered an outage leaving users unable to make and receive calls. Read more: Natwest online outage leaves customers unable to access accounts Voice calls over 4G were not working for thousands of customers this morning, though an EE spokesperson said most users should have seen [...]
Lord’s last One-Day Cup final? MCC head of cricket John Stephenson on Hampshire v Somerset, the domestic 50-over competition’s future and The Hundred May 20, 2019 John Stephenson knows a thing or two about one-day cricket. As a fan, player and now head of cricket at Marylebone Cricket Club, he has watched, participated in and enjoyed the format as it has evolved. As a child his interest was piqued by Gloucestershire’s Mike Procter, who scored 94 in a win over Sussex [...]
MPs tell government to intervene if banks don’t do enough to halt branch closures May 13, 2019 The government or the financial watchdog should be ready to intervene if banks do not do enough to halt the closure of local branches, MPs have suggested. In its report into financial inclusion, the influential Treasury Select Committee (TSC) said the closure of local branches were more likely to affect older and more vulnerable customers and [...]
Deutsche Bank scandal: Courts still chasing billions through tax scams and carbon credits May 7, 2019 Major banks enabled fraudsters to steal billions of pounds of public money through VAT scams, according to documents obtained by the Bureau of Investigative Journalism. A decade later, tax authorities are still chasing the money through the courts. Traders in London facilitated the so-called “carousel” fraud by organised crime gangs in 2009, which involved the trading [...]
Deutsche Bank scandal: Courts still chasing billions through tax scams and carbon credits May 7, 2019 Major banks enabled fraudsters to steal billions of pounds of public money through VAT scams, according to documents obtained by the Bureau of Investigative Journalism. A decade later, tax authorities are still chasing the money through the courts. Traders in London facilitated the so-called “carousel” fraud by organised crime gangs in 2009, which involved the trading [...]
Payment startup Thunes closes $10m Series A funding round May 6, 2019 Emerging economies payment start-up Thunes has completed a $10m (£7.64m) Series A funding round led by Alibaba and Airbnb investor GGV Capital. The funding will be used to expand Singapore-headquartered Thunes across Africa, Asia and Latin America. Read more: Buy now, pay later, budget better – Laybuy is shaking up the retail sector Thunes will also add [...]
Dark clouds gather as one-sixth of British businesses struggle financially April 29, 2019 Nearly a sixth of British businesses are in financial trouble, amid concerns the UK could suffer a wide-ranging economic slowdown in the coming months, according to research. Read more: Natwest increases small business loan programme amid Brexit uncertainty A report by a leading insolvency firm has revealed there are 484,000 UK firms in “significant financial [...]
Natwest online banking outage: Bank apologises as customers unable to access accounts April 29, 2019 Natwest customers have been frozen out of their accounts this morning due to an online outage. The bank confirmed on Twitter that it had been experiencing issues and has been instructing customers to delete temporary internet files and try again. Read more: TSB online banking outage hits customers The outage began at around 5am, according [...]