Five UK banks given Open Banking deadline extension by CMA December 19, 2017 Five UK banks have been given more time by the Competition and Markets Authority (CMA) to comply with Open Banking regulations. Barclays, Royal Bank of Scotland (RBS), HSBC, Santander and Bank of Ireland appealed to the CMA for a delay to the January deadline. Open Banking is a new digital standard that aims to give [...]
Why is Pakistan struggling to find its feet as a successful emerging market? December 18, 2017 The key dilemmas facing Pakistan’s equity market — a small investor base, few new listings on the Pakistan Stock Exchange (PSX), and shrinking turnover — are tied to the lack of trust among investors and issuers as well as unnecessary compliance and tax burdens. It will take greater professionalism among the intermediaries and the rationalization [...]
Rupert Murdoch denies a “retreat” as Disney confirms buyout of 21st Century Fox assets for $52bn December 14, 2017 Rupert Murdoch denied today that his family was “retreating” as his media empire was broken up by a $52bn (£39bn) sale of 21st Century Fox assets to Disney. “I know a lot of you are wondering, why have the Murdochs come to such a momentous decision?” the recently married 86-year-old said on a call with [...]
Which bank has the best current account? FCA to force banks to publish data on current account services December 12, 2017 High street banks will be forced to publish more information on their current account services to help customers to compare providers more easily under new rules outlined by the Financial Conduct Authority (FCA). The new rules will force all providers of personal or business current accounts to publish standardised data on their products. From August [...]
Digital challenger Starling to hit profit in 2019 says founder Anne Boden as European expansion takes crucial step December 12, 2017 Digital-only challenger bank Starling will “definitely” be in profit by the end of 2019, its chief executive told City A.M., as it announced a major step in its plans for European expansion. Anne Boden, who started work on the bank in 2014, said Starling will be “breaking even in about two years’ time” as it [...]
Could these European stock market sectors offer the most value in 2018? December 11, 2017 This European stock market outlook is taken from a series of Schroders investment outlooks for 2018. Go to Insights for the full selection. Our central view is that inflation will pick up over the medium term and therefore a value skew is likely to be appropriate for investors in European equities. By value, we mean [...]
Pound devaluation: how the lessons of 1967 apply today November 23, 2017 The UK actively devalued its currency in 1967, but the 20 per cent fall in the pound since the Brexit vote continues a long-term trend of devaluation. Since the UK voted to leave the European Union on 23 June 2016 the pound has devalued sharply. It has fallen by as much as 21 per cent [...]
Autumn Budget 2017 at-a-glance guide: All the announcements by chancellor Philip Hammond you need to know November 22, 2017 Chancellor Philip Hammond has unveiled the Autumn Budget, saying the UK must “seize the opportunities” for Britain and promised to invest “to secure a bright future”. Now we’ve heard plenty about what was expected from today, from a concerted focus on housing, to a regulatory revamp for driverless cars and a slew of tech spending. [...]
Autumn Budget 2017: Chancellor Philip Hammond’s speech in full November 22, 2017 You can read the chancellor's Budget speech in full here: Mr Deputy Speaker I report today on an economy that continues to grow, continues to create more jobs than ever before and continues to confound those who seek to talk it down. An economy set on a path to a new relationship with our European [...]
Concordia accused by UK competition watchdog of overcharging the NHS by “millions” November 21, 2017 Canadian drug giant Concordia overcharged the NHS by millions of pounds, Britain’s competition regulator provisionally found today. It is alleged the firm hiked the price of one the NHS’ essential thyroid drugs. Last year, the NHS spent more than £34m on the medication, called liothyronine, an increase from £600,000 in 2006. The Competition and Market’s [...]