Change in state pension age not to be decided until after next general election May 11, 2023 A decision on changing the state pension age won’t come until after the next general election, a top cabinet minister has admitted. Work and pension secretary Mel Stride said the starting age is not likely to go up to 68 until the 2040s and that there is “no reason why you need to take the [...]
HSBC fined £12m by US watchdog due to ‘widespread and longstanding failures’ in bank’s Whatsapp use May 11, 2023 HSBC has been fined $15m (£12m) by the US Securities and Exchange Commission (SEC) as banks continue to pay the price for the use of private messaging services such as Whatsapp. The penalty was issued in response to “widespread and longstanding failures” by the bank and its employees to “maintain and preserve electronic communications.” According [...]
Supertool: S4’s Sorrell says AI ‘more effective than a 25-year-old media buyer’ May 11, 2023 S4’s chairman Sir Martin Sorrell is optimistic about the future of AI as his advertising agency embraces it to supercharge their productivity and reach. Sorrell said S4 had already seen an increase in viewing metrics because AI was helping employees speed up ad copywriting and aggregate data that makes it easier to hyper-personalise and target [...]
Bank of England hikes interest rates for twelfth time in a row and warns of ‘significant’ inflation risk May 11, 2023 The Bank of England today hiked interest for the twelfth time in a row and to their highest level since October 2008, but warned inflation will stay higher for longer than it previously thought. The monetary policy committee (MPC) – the nine-member group tasked with setting interest rates in the UK – voted 7-2 in [...]
Explainer: TransPennine Express joins the club of nationalised railway services May 11, 2023 And just like this, another railway service gets nationalised. Say goodbye to TransPennine Express, which is now going to be run by the state. TransPennine had been long criticised by customers, who complained of cancellations and delays making commuting a nightmare. Now trains in Manchester, Liverpool, Glasgow and Edinburgh will be managed through the Operator [...]
Mortgages: How the BoE’s twelfth consecutive rate rise will affect homeowners May 11, 2023 Homeowners on tracker mortgages could see their annual bills increase by £5,008 a year following the Bank of England’s twelfth consecutive rate rise on Thursday, though analysts have said the latest rise will not have a substantial impact on the housing market. The monetary policy committee (MPC) voted 7-2 in favour of raising borrowing costs [...]
Top shareholder advisory firm U-turns to back JP Morgan pay plan after misinterpreting data May 11, 2023 Influential shareholder advisory firm Institutional Shareholder Services (ISS) has U-turned on its initial recommendation to reject the pay packages for senior executives at JP Morgan. Just last week ISS had urged shareholders to vote against executive’s pay packages. However, JP Morgan wrote a letter to the firm on Monday, arguing it had wrongly interpreted data [...]
Xapo Bank expands stablecoin payment rails to accommodate Tether May 11, 2023 Private bank Xapo has become the first bank in the world to integrate stablecoin Tether (USDT) payment rails.
Revolut finance chief quits for ‘personal reasons’ May 11, 2023 The finance chief of Revolut has quit the firm, he announced today, adding to the woes of the company as it struggles to earn a UK banking licence.
UK looks to butter up NIMBYs with energy bill discounts for supporting new onshore wind May 11, 2023 Households living near prospective onshore wind turbines could be offered lower energy bills in exchange for supporting new projects.
