Halifax: UK homeowners have earned enough to cover mortgage payments for 2018, London residents to wait two more months April 16, 2018 UK homeowners have earned sufficient income, on average, to cover their mortgage payment for the rest of 2018, according to British bank Halifax. Dubbing today ‘Uk mortgage freedom day’, the bank says that, based on on the average annual mortgage repayment cost of £8,039 and the average net annual income of £27,7243, 16 April marks [...]
What housing policies are the UK government likely to announce soon? April 13, 2018 It is clear that the Government intends to intervene more and more in the housing market. This attitude stems partly from the Housing White Paper, issued in February last year, but also a reorganised Home England, with Nick Walkley, a self-described ‘disruptor’ at the helm, restructuring the former Homes and Communities Agency to be more [...]
Litecoin is trying to issue debit cards again April 12, 2018 The Litecoin Foundation partnered with TenX, a startup cryptocurrency payment platform, to try offering debit cards. This is the Litecoin Foundation’s second foray into plastic after a largely hyped up but failed venture last month when its payment processor LitePay ceased operations. “TenX recently added LTC to their wallets, and we are working with them [...]
Bank of England “shouldn’t dally” over next rate hike, says monetary policy committee member Ian McCafferty April 10, 2018 A member of the Bank of England’s monetary policy committee has said it should not delay on raising interest rates again Ian McCafferty, one of two members to vote for a rate rise last month, told Reuters: “We shouldn’t dally when it comes to tightening policy modesty.” McCafferty said he did not think there was [...]
Interest rates should be set by the market, not central banks April 10, 2018 This week, the first Annual Summit on Economic Freedom will take place in the European parliament. I will have the pleasure of debating with the director of IMF Europe, Jeff Franks, on the topic of “Central Banks: The Solution or the Problem?”. From 2008 onwards, central banks have generally been regarded as the heroes that [...]
UK must not neglect the EU when planning post-Brexit trade deals, says Institute of Directors IoD April 10, 2018 The UK cannot neglect the EU when planning future trade deals post-Brexit, according to business group the Institute of Directors (IoD). The EU has seen stronger growth as a market for UK exporters than either Asia or North America over the past two years, according to a recent survey from the group. Meanwhile 43 per [...]
Cryptocurrency regulation: The FCA will publish its cryptocurrency review later this year April 9, 2018 The UK’s markets watchdog is set to publish its review of cryptocurrencies in the third quarter this year after issuing a number of warnings on the controversial digital assets. In its business plan for the financial year ahead, the Financial Conduct Authority (FCA) said the review was part of a taskforce with the Treasury and [...]
Bank of England to publish new cyber standards by summer to protect financial system under “almost constant attack” April 9, 2018 Britain’s financial system is “under almost constant cyber attack” according to a top Bank of England official, with the regulator planning to introduce new standards for financial firms’ computer security. Sam Woods, a deputy governor at the Bank, said the the Prudential Regulation Authority (PRA), which he heads, will publish new standards expected of firms. [...]
UK services sector frozen by weakest performance since Brexit vote after disruption from heavy snow April 5, 2018 Activity in the UK services sector last month fell to 51.7 from 54.5 in February, according to the Markit/CIPS purchasing managers’ index out today. The 51.7 reading of activity in March marks the weakest service sector performance since July 2016. March data signalled a slowdown in business activity growth across the UK service sector, though [...]
Dear London, where’s our Google? Time to move past fintech and take on Silicon Valley April 2, 2018 London’s tech scene is much lauded. More than seven years ago, David Cameron outlined his vision of a Silicon City, one rooted in the east of London and spawning ideas that can take on the world. Since then, there has been much talk – but what about the results? Read more: London will remain tech [...]