£233bn stuck in zero-interest accounts as pressure grows on banks to improve advice May 15, 2023 As banks come under fire for offering “measly” rates to savers, new figures reveal many are leaving hundreds of billions of pounds lying idle in zero-interest accounts. Some £233bn is being held in zero-interest accounts, according to Bank of England Data analysed by asset management firm Bowmore. This is up from the total held in [...]
Cost of card payments slammed as ‘startling’ after Mastercard exec defends fees May 15, 2023 A lobby group has today warned of the “startling rise in the cost of accepting cards” for small businesses after the European chief of Mastercard defended the fees it levies on merchants over the weekend. Interchange fees, which are charged to merchants and paid to the card issuing bank and payment network, have climbed sharply [...]
Fraud warning as insolvency surge sees more directors investigated for corporate misconduct May 15, 2023 The Insolvency Service last year launched 36 per cent more investigations into the alleged misconduct of directors of insolvent companies than the year before, data from international law firm RPC shows. According to RPC, the number of investigations increased from an average of 142 per month between April 2021 and March 2022 to 193 between [...]
Burberry hopes to be back in fashion thanks to China reopening May 15, 2023 Luxury retailer Burberry could prove its buyers have been sheltered from cost-of-living pressures when it unveils its full-year financial results on Thursday. The historic British brand, which has benefitted from the reopening of the Chinese economy this year, is expected to show a jump in profits and sales for the year ending in March. The [...]
Banks set to ramp up lending as UK economy dodges recession May 15, 2023 Banks are expected to ramp up their lending this year as the UK economy dodges the gloomiest recession predictions and the housing markets shows signs of some revival, according to a panel of top economists. Total UK bank loans are now expected to rise 1.2 per cent this year, a net increase of £29bn, upgraded [...]
Braverman’s fight with the Lords over migration laws is unconstitutional May 15, 2023 Suella Braverman is trying to delegitimise the House of Lords' efforts to amend her migration laws, saying the Lords have to respect the will of the British people. This strategy is dangerous, writes Eliot Wilson
Productive relations with the EU are a win-win for the City and the UK as a whole May 15, 2023 The City can only benefit from improved relations between the UK and the EU. As the leading financial centre, the Square Mile should push for even stronger cooperation with EU partners, writes Chris Hayward
Prevention is the last chance left to save the NHS from an inevitable death spiral May 15, 2023 As NHS waiting lists reach a record high, we should seriously invest into prevention - so we can save lives, free up hospital beds and ultimately save money for the health service, writes Hamish Grierson
M&G calls bosses back into the office – and they can’t be TWaTs about it May 14, 2023 Investment firm M&G has called on its managers to get back in the office for three days a week in a bid to boost the morale and development of its junior staff - but they won't be allowed to simply swan in on Tuesdays, Wednesdays and Thursdays.
Net migration set for record high as Tories brace for backlash May 14, 2023 Net migration figures into the UK are reportedly set to reach a record high of up to one million with the Conservative party bracing for criticism over the issue. Official figures are expected to be released later in May, with net migration expected to be 650,000 to 997,000 – far higher than the previous record [...]
