Five banks fined £2bn by regulators over forex failings

HSBC, Royal Bank of Scotland, Swiss Bank UBS and US Banks JP Morgan Chase and Citibank have all been collectively fined £2bn by UK and US regulators for trader’s attempted manipulation of foreign exchange rates. The fines follow a year-long investigation by regulators into claims Read more…

US Stocks fall as crude oil prices have hit a four-year low

US Stocks fall as crude oil prices have hit a four-year low after Saudi Arabia, the world’s largest exporter, unexpectedly cut the price of oil sold to them in a further sign of an escalating war for control of global energy markets. raising concerns about Read more…

Nikkei leads Asia higher

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Japan led Asian shares higher after the Bank of Japan (BOJ) surprised markets by announcing more stimulus measures. The BOJ decision sought to ease monetary policy on worries that lower oil prices would affect consumer prices. The central bank will increase the pace at which Read more…

Lloyds Bank confirms 9,000 job losses and branch closures

Lloyds Banking Group has confirmed 9,000 job losses and the closure of 150 branches over the next three years. The latest job losses – representing about 10% of its workforce – come on top of 43,000 cuts made since 2008. The group is also setting Read more…

Tesco Chairman to step down

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Sir Richard Broadbent will leave Tesco following bigger than forecast hole on profits. First half year profits overestimations now have increased to £263m after last month’s estimates of £250m. Deloitte are investigating the misreported gains and have found that Tesco have been banking promotions deals Read more…

Government to consider new peer-to-peer lending ISA

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The Treasury is launching a consultation on a proposal to create a third and different ISA for peer to peer lending, in a move which could propel the concept into the front rank of financial options. The plan is to create one for people who Read more…

Private sector pay ‘to rise faster than public sector’

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A report from the Institute for Fiscal Studies has said pay in the private sector is likely to rise faster than public sector wages in the next four years. The independent research institute said the pay gap between public and private sector workers had nearly Read more…

Survey reveals fifth of UK mortgage holders would struggle with rate rise

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The Money Advice Service said that 19 percent of mortgage holders said they would “really struggle to find the extra money” to cover any increase in repayments. This proportion increased to 47 percent if mortgage payments were to rise by 150 pounds a month – Read more…

Osborne to cut pensions ‘death tax’

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The government is to abolish the 55% pensions death tax charge, Chancellor George Osborne will announce later today. The measure will come into force in April 2015 alongside the pension reforms outlined in the Budget. The new rules mean that if a person who dies Read more…

11/08/14 Market Movements

Market news The FTSE100 closed up 65.46 points at 6,632.82 and snapped a three day losing streak after tensions appeared to be easing in Ukraine after Russia said it would pull troops back from the Ukrainian border. Despite the daily increase of 1%, investors remained Read more…

15/07/14 Market Movements

Market news The FTSE100 closed the day down 25.69 points at 6,710.45 as tech shares tumbled. Shares in the German firm fell nearly 14% after it said it now saw 2014 revenues from business process management products stagnating from a year earlier, denting sentiment on Read more…

CPI nears Bank of England target

The Consumer Prices Index (CPI) rose to 1.9%, up from 1.5% in May, according to the Office for National Statistics. With women’s clothing prices, air fares and furniture prices being the greatest contributors, the rate is now very close to the Bank of England’s 2% Read more…

Executive pay ‘180 times average’

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According to a recent report from The High Pay Centre, executive pay has grown from 60 times that of the average worker to almost 180 times since the 1990s. It noted that shareholders were still backing high executive pay deals despite new powers to vote Read more…

Poundland Profits Rise

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Profits to the end of March rose to £36.8m, up 23.5%. This news follows Poundland’s successful IPO in March 2014. Currently, the discount chain operates 528 stores in UK and Ireland. The first store in Spain was launched yesterday, at the resort location of Torremolinos.

Governor hints at possible interest rate rise

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In a keynote speech yesterday, the Governor of the Bank of England Mark Carney, said an interest rate rise “could happen sooner than markets currently expect”. The consensus among economists was that rates would rise in the first half of next year, or even earlier. Read more…

Market Commentary – 21st June 2017

The Queen’s Speech and Brexit… It has been a busy morning today as the Queen prepared to deliver the governments proposed legislation and policies for the next two years. The Queen has set out the government’s legislative programme. It includes: The “Great Repeal Bill” to Read more…

Market Commentary – 14th June 2017

So, after all that… The Conservatives won, but lost, Labour lost, but won. The SNP won and lost in Scotland but still won, and the Conservatives won in Scotland, but lost, UKIP lost but because of Brexit they’ve already won. The winner Mrs May, is Read more…

UK Election Result!!!!

As the exit polls stated with great accuracy last night the UK electorate turned out and said what we were all saying, in that we did not want either of the two leaders on offer as neither party delivered a manifesto that looked at the Read more…

Market Commentary – 7th June 2017

Election fever peaks as the Conservatives’ lead narrows Theresa May and Jeremy Corbyn are making a last-minute push for votes, returning to their core themes as general election campaigning enters its last day. May will tour England promising Brexit will be a success while Corbyn Read more…

Market Commentary – 31st May 2017

Polls? Only one that matters is on the 08th of June…   The Times today reported a YouGov poll which suggested that the conservatives could fail to win an outright majority in the election on the 08th of June which could result in a “Hung Read more…