Bank of England’s chief economist wants to teach children maths so they trust banks May 18, 2016 Teaching children how to look at numbers, understand bank accounts and work out interest rates will restore trust between banks and the wider public, the Bank of England’s top economist has said. Andy Haldane told a City audience that too many children were being put off maths at school and called on policymakers to make [...]
The Bank of England’s agents’ summary on Brexit, housing and the living wage May 18, 2016 The economic slowdown is set to continue right up until the EU referendum, the Bank of England's latest agents' summary has revealed. The Bank's sprawling network of so-called agents are Threadneedle's streets eyes and ears on the ground of the real economy. They monitor local conditions, talk to businesses, and assess the general state of the nation, [...]
Five things you should know about Brexit and your finances May 17, 2016 Six weeks to go before the Europe referendum on 23 June and both sides are campaigning hard. Boris Johnson says the only safe option is to leave, while Bank of England governor Mark Carney cautions that it’s a dangerous choice, as everything from employment to food prices will be affected. We take a look at the [...]
Housebuilder Crest Nicholson’s share price rises as it rides the house price wave May 16, 2016 Brexit threat? What Brexit threat? Crest Nicholson proved this morning that housebuilders continue to be on a high – despite market uncertainty. The figures In a trading update this morning, the housebuilder said it completed 1,206 homes in the six months to the end of April, up seven per cent from last year's 1,124 homes. Sales rate per outlet rose four per cent on [...]
The non-Brexit bits from the Bank of England and the International Monetary Fund May 13, 2016 You may have noticed, there have been some pretty stark warnings about what Brexit could do to the UK economy this week. Both the International Monetary Fund (IMF) and the Bank of England waded into the debate arguing that a vote to leave the EU could trigger a recession. Cue outrage from Leave campaigners. But [...]
Safe as houses: Aldermore Group mortgage origination up 60 per cent May 12, 2016 Aldermore Group today revealed that the number of loans it had created in its first quarter of the year had leapt up, causing its share price to shortly follow suit. Loan origination for the challenger bank rose to £814m for the first quarter of 2016, up 43 per cent on the prior year's £568m. Mortgage origination was [...]
City Moves for 11 May 2016 | Who’s switching jobs May 11, 2016 RateSetter Marketplace lender RateSetter has announced the appointment of Cyrille Salle de Chou as chief risk officer. Cyrill joins from Lloyds Banking Group and brings extensive experience. He started his risk career at Capital One, where he became chief credit officer for Europe responsible for card and personal loan credit. In 2007, he joined Lloyds [...]
Six of the best challenger banks: Disgruntled with HSBC, Lloyds, RBS and Barclays? We highlight the cream of the alternatives May 11, 2016 The big four high street banks – that’s Barclays, Lloyds, HSBC and RBS – have had their fair share of scandal over the years and many people have been left disgruntled with the service they’ve received. There’s been a lot of inertia in banking, with few people willing to move their main account. Nearly 60 per [...]
Application fraud rates up by 20 per cent as current accounts and credit cards get hit May 6, 2016 Rates of financial application fraud have continued to climb in 2016, pushed on by credit card and current account scams. Current account fraud again topped Experian’s fraud index charts for fraudulent applications at a rate of 126 in every 10,000 applications, compared to 81 in 10,000 over the same period a year ago. Credit card fraud [...]
UK banks would face a squeeze on their balance sheets after Brexit May 5, 2016 Profits at the UK’s largest banks would be squeezed if the UK votes to leave the European Union, a top credit ratings agency has said today. Moody’s has warned that Brexit would hit demand for loans, potentially reduce the value of banks’ balance sheets and heap pressure onto London’s fragile investment banking sector. “Uncertainty before [...]