Millions of Brits face £100 per month budget shortfall as merciless cost-of-living crisis deepens saturday read Millions of households could be left around £100 per month short of what they need to cover their spending in just two years’ time on average, as costs rise faster than incomes, a new report suggests. By 2024, average weekly incomes could increase to £680 by 2024 – while average weekly UK household spending may [...]
Exclusive: Half of Londoners aged 75+ wish they were better prepared for retirement Pensions Almost half (49 per cent) of all Londoners aged 75 and older wish they had been better financially prepared for their retirement, according to new figures shared exclusively with City A.M. At the same time, 45 per cent of Londoners between the ages of 45 and 65 do not have a clear idea as to [...]
UK plans to sanction all Russian nationals would breach equality laws, banks say Sanctions The UK government’s plans to ban Russians from holding more than £50,000 in UK bank accounts are unfeasible, banks have said. Banks have told the government that the sanctions measures put in place in response to Russia’s invasion of Ukraine would breach equality laws, which prevent discrimination on the basis of nationality. The sanctions set [...]
Consumer lending surges as war, inflation and post-pandemic impact bite March 11, 2022 Consumer lending experienced a 51 per cent increase in January 2022 from the previous year, as concerns about Russia’s war in Ukraine, rising costs of living and inflation continue to bite. The sector for credit cards and personal loans had a major spike with a 55 per cent, according to new figures released by the [...]
Exclusive: Top UK, German and Belgian retail bosses planning to launch more embedded finance schemes March 9, 2022 More than 50 per cent of top European business leaders are looking to launch more embedded finance schemes, a survey has revealed. An independent poll of 753 bosses in retail and eCommerce companies spanning the UK, Germany and Belgium, indicated most would back such initiatives – which integrate financial services in non-financial companies. The survey, [...]
Lord Cruddas’ CMC Markets on track for new trading platform amid tumultuous pandemic January 26, 2022 CMC Markets meets full year guidance as client money trends, especially in Australia, drive "confidence" for the firm and keep assets "close to record highs".
ICAS launches new thought leadership series Finance + January 20, 2022 New from ICAS for 2022, the Finance + insight series puts you in the bigger picture, exploring the key issues and opportunities for today’s finance professional. You + the big picture Recent events have revealed the need for resilience and the readiness to grasp new ways of thinking, living and working. They have also shown [...]
Your money in 2022: Personal finance trends to keep an eye on this year January 16, 2022 What personal finance trends are likely to shape 2022? New research shared with City A.M. looks at the sentiment and behaviours for this year. The pandemic, mixed with wider economic issues and the rising cost of living, appears to have had an effect on Brits’ relationship with money, because the findings from consumer research platform [...]
Fifth of adults using buy-now-pay-later services once a month January 5, 2022 Usage of buy-now-pay-later (BNPL) services has exploded over the past year, according to new research from TSB.
Financial watchdog introduces rules for greater consumer protection to ‘drive a change in culture’ December 7, 2021 The Financial Conduct Authority (FCA) launched a consultation this morning to ensure a higher and more consistent standard of consumer protection for users of financial services and help to stop harm before it happens.