Yuan currency to rule them all: China seeks to boost renminbi August 10, 2016 China has pledged to boost the role of the renminbi in the international economy as the country prepares to take new steps to develop the reputation and more widespread use of its currency. The People's Bank of China (PBOC) said today it was seeking to increase the use of the renminbi as a reserve currency for central [...]
Sir Philip Green is now the fourth richest man in the UK after the death of the Duke of Westminster August 10, 2016 Sir Philip Green is now the fourth richest person in the UK after the death of billionaire landowner Gerald Cavendish Grosvenor, the former Duke of Westminster. The duke was the UK's third richest person until he died last night at the age of 64. His fortune was estimated at £8.3bn by Forbes magazine. Read more: Holiday like [...]
Before the bell: What you need to know before the US market open August 10, 2016 The UK economy is slowing down after its vote to quit the European Union and markets continue to knock on record highs. Here's what you need to know before the US market opens at 2:30pm London time. US markets are pointing up ahead of the open signalling the possibility of further all-time highs. The S&P is [...]
Prudential boss Mike Wells thinks people are still a bit confused about Asia August 10, 2016 The man at the driving seat of one of the most notable insurance giants has today said he believes many are still struggling to get their head around the Asian market. In a conference call to discuss his company's half-year results, Prudential chief executive Mike Wells pointed out there were still many misconceptions about the geographic region, [...]
Business groups hit out at RMT’s Eurostar strike August 10, 2016 The business community has slammed a union behind the strike scheduled to take place on Eurostar. The RMT union has said its members will strike from 12 to 15 and 27 to 29 August, while TSSA members will strike on 14, 15, 28 and 29 August. The news comes after RMT said its members on Virgin [...]
Police investigate Heathrow Airport security pass scam August 10, 2016 Scotland Yard is investigating an alleged scam involving airside security passes for Heathrow Airport, it has been reported. Sky News reported two young women, thought to be airport workers, had been arrested. "We can confirm that officers from the Met's Aviation Policing Command are investigating an allegation of fraud," said a spokesperson for the Metropolitan Police. [...]
Unauthorised overdraft charges can cost consumers more than payday loans, according to research from an online current account specialist August 10, 2016 Overdraft fees can cost as much as five times more than a pay-day loan according to figures from digital current account provider Ffrees. Borrowing £100 for a month on a short term loan can incur charges of as much as £20, but taking the same amount from an unauthorised overdraft could see consumers stung for £100, [...]