UK’s first mobile-only current account bank Starling to raise £40m for international expansion September 22, 2017 Starling Bank, the first mobile-only firm to launch a current account in the UK, is launching a new fundraising round aiming for £40m. The challenger bank is looking to expand into Europe, and has engaged boutique advisory Quayle Munro to work on the funding round. Part of the money raised will also be used to [...]
UK house prices: Property transactions fell again last month September 21, 2017 The number of homes bought and sold in the UK fell again between July and August, providing further evidence the property market is beginning to stagnate. On a seasonally adjusted basis, property transactions fell 0.5 per cent between July and August to 103,490, figures by HM Revenues and Customs (HMRC) showed. Although the figure is [...]
How world stock markets have performed in the 10 years since the financial crisis September 21, 2017 It is hard to believe that a decade has passed since the start of the global financial crisis. The 10th anniversary of the run on Northern Rock fell earlier this month. But the crisis was already well underway at that stage. It was the August of 2017 when French bank BHP Paribas suspended three funds [...]
Gold is under-owned by investors… for now September 19, 2017 Gold remains extremely under-owned by investors despite having a solid track record as a currency of last resort in times of uncertainty, and despite the current global environment being arguably more uncertain than any point since the second world war. Current gold ETF holdings as a percentage of global ETF assets are tiny. An ETF [...]
Do rising interest rates reduce returns on income investments? September 18, 2017 Many will remember to their cost the infamous “taper tantrum” in June 2013. It was the moment Ben Bernanke, the then Chairman of the US Federal Reserve, indicated that the quantitative easing (QE) would be scaled back, or tapered. The QE programme had fed money into the financial system to stimulate the economy following the [...]
Bitcoin and central banks? Cryptocurrency role “far from clear” but “pressing” says Bank of International Settlements September 18, 2017 “The role of central banks in cryptocurrencies is “far from clear”, the Bank of International Settlements has said, with risks such as security hard to quantify. But the issue of whether a central bank should issue a digital alternative to cash is “pressing” in light of countries such as Sweden moving closer to becoming a [...]
Is a UK house price crash coming? The majority of people think so, survey finds September 17, 2017 The majority of people are expecting house prices to crash as concern grows around the property market. A new survey by YouGov for the Sunday Times reveals more than half think prices will crash within the next five years. And almost a quarter say the same, but within just a two year time frame. House [...]
The new £10 note featuring Jane Austen has gone into circulation today: Here’s what you need to know September 14, 2017 First came the plastic £5 note, now the Bank of England’s new polymer £10 note has gone into circulation. The new note, which was first unveiled by Bank of England governor Mark Carney in July, features English novelist Jane Austen – marking 200th anniversary of her death. Just over 1bn polymer £10 notes have been [...]
British banking remains “accident waiting to happen” 10 years after Northern Rock collapse, Adam Smith Institute report claims September 13, 2017 British banking is an “accident waiting to happen”, according to a new report from think tank the Adam Smith Institute marking the 10-year anniversary of the Northern Rock crash. Today’s paper, authored by Durham University finance and economics professor Kevin Dowd, also claims the Bank of England’s stress tests are “seriously flawed” and that banks [...]
Crash ahead? Crispin Odey’s hedge fund Odey Asset Management is increasing it short stake in used car business Auto Trader September 7, 2017 Crispin Odey’s eponymous hedge fund Odey Asset Management has been upping its short stake in Auto Trader over recent weeks. On Tuesday, the fund increased its short position in the used car business to 1.3 per cent from 1.26 per cent, implying that Odey may just be banking on a crash ahead for Auto Trader’s [...]