Bank of England set to keep interest rates at 0.5 per cent – again – this week April 10, 2016 The Bank of England will keep interest rates on hold for the 85th month in a row when it meets on Thursday, economists and analysts have predicted. Interest rates, which are set by the nine-strong Monetary Policy Committee (MPC), made up of governor Mark Carney, a number of senior Bank officials and some external figures, [...]
Now Nationwide is testing behavioural biometrics instead of pins and passwords for logging on to online banking April 10, 2016 Pins and passwords are so passe. Nationwide is the latest financial institution to explore new ways of verification and authentication, testing out a new method of accessing your bank account based on how you use your phone – from the way you hold it to the speed you type. And with 70 per cent of us [...]
Panama Papers: David Cameron did nothing wrong, says City grandee April 10, 2016 David Cameron acted with the “utmost financial probity” over his use of an offshore investment fund, Blairmore Holdings, established by his father and exposed in the Panama Papers revelations, according to City grandee, David Buik. The prime minister has been embroiled in the scandal after it emerged that he held shares in the company between [...]
Is George Osborne next? Labour and the SNP want the entire cabinet, MPs and political journalists to publish tax returns April 10, 2016 The Prime Minister may have thought publishing his own tax return would settle the furor caused by the Panama papers and his own connections with offshore companies, but it looks like there's no signs of the row abating just yet. Now, the SNP has called for the same kind of transparency from across the government, and has apparently [...]
Harry Potter and the curious tale of GCHQ April 10, 2016 How do you keep Harry Potter news under wraps? With the help of a spy agency – and not the fictional Ministry of Magic kind either With no real life invisibility cloaks or veritaserum potions available, the publishers of the enormously successful series had a little help from a surprising place – the UK's spy agency GCHQ. [...]
David Cameron’s tax return in three simple charts April 10, 2016 David Cameron's tax affairs have been revealed in a move labelled "unprecedented" in the wake of pressure over his arrangements uncovered by the Panama papers leak. Here are the key numbers… 1. Income The PM has raked in more than a million over the last six years, since coming to power in 2010. This includes his salary, [...]
Germany won’t launch legal action if ECB uses “helicopter money” April 9, 2016 Germany has denied that it would consider legal action if the European Central Bank resorted to "helicopter money" as it fights off economic stagnation. It follows a report by German newspaper Der Spiegel said the government could seek a legal clarification of Frankfurt's mandate if it opts for the controversial policy. "Helicopter money" is the brainchild [...]
Foreign Secretary Philip Hammond urges China to curb steel production April 9, 2016 Foreign Secretary Philip Hammond has urged China to stop dumping excess Steel onto the global market as the UK steel industry is in its death throes. His intervention comes as a Tata Steel is preparing to kick off the formal sales process for its British assets on Monday. Read more: Why the bank bailouts are no model [...]
Tube map shows most unaffordable areas to rent in London April 9, 2016 Everybody knows that renting in London is really, really expensive. But which areas require city-dwellers to cough up the most cash? The answer is most places, according to a tube map drawn up by housing charity Shelter which lumps areas into three categories – "unaffordable", "difficult to afford," and affordable." So it will come as no surprise [...]
David Cameron admits he could’ve handled the Panama Papers better April 9, 2016 Prime minister David Cameron has admitted that he could've handled the scrutiny of his financial affairs better. Speaking at the Conservative party's spring forum, he accepted blame for the mishandling of revelations about his late father's offshore fund. He made the comments as crowds gathered outside of Downing Street to call for his resignation in light of the [...]