The abrupt increase in mortgage rates in recent months has been a response to the Bank of England's actions, which have raised interest rates 14 times since December 2021.
Bank of Ireland's glitch allowed customers to withdraw cash exceeding their balances, causing chaos and police presence at ATMs around Ireland and leaving individuals unable to access their online banking services.
The last time rates were this high was in April 2008, in the midst of the global financial crash, with the UK's central bank expecting inflation to fall below five per cent in the autumn or winter.
The Bank of England warns that nearly one million UK households will face higher mortgage payments due to rising interest rates, potentially impacting financial stability.
According to the report, three out of four persons above the age of 65 prefer to do at least one bank transaction at their branch and aren't comfortable going fully online despite the rising phenomenon of banking deserts in the country.
Though traditional banks and credit card providers have thus far thrived in the face of new models of consumer finance, they are finally facing a challenge.
Despite narrowly escaping a technical recession late last year, the UK economy finds itself on fragile ground as
high-interest rates loom.
The banks named in the recent report are Royal Bank Of Canada, HSBC, Deutsche Bank, Citi and Morgan Stanley. These banks allegedly participated in a series of one-to-one conversations in chatrooms, where they divulged sensitive information to traders.
Against a backdrop of some high-profile departures from the British stock market, a new Taskforce brings together various stakeholders to brainstorm solutions.
The ceiling on US public debt is legally fixed and can be raised only by passage of congressional legislation signed into law by the president.
The Bank of England and its global counterparts have ramped up interest rates to tackle sky-high inflation.
There is a huge number of brokerage companies operating in the UK.
A recent study shows that numerous UK investors are unaware of tax-efficient investment options such as ETFs, IFISAs and other products beyond traditional ISAs.
The Office for National Statistics reported that the "prices of food and non-alcoholic drinks rose at the fastest rate in more than 45 years in the 12 months to February 2023."
As both businesses and individuals suffer from the high cost of living and inflation of 10.4 per cent, employers can support their employees in many ways without breaking the bank.
Analysis from Swiss online leading bank, Swissquote, has provided insight into the US financial markets ahead of the US jobs data coming out on Good Friday.
From ISAs to pensions, VCTs to EISs, Madeleine Ingram, Director at Calculus, shares how UK individuals can make tax-efficient investments amid the fair of a coming recession.
HSBC, Goldman Sachs, Morgan Stanley and Standard Chartered reported a widening in the gap between what they paid women and men in 2022, according to data reviewed by Reuters.
The United States on Monday welcomed plans by the World Bank to boost its annual lending by $5 billion to address global challenges including climate change over the next 10 years, but said it was pushing for more ambitious changes soon.
The Financial Sector Conference 2023, hosting 3,000 visitors and 60 plus speakers, focused heavily on Saudi Arabia's Vision 2030, with talks of SVB's collapse and women inclusion in the workforce highly present.
Switzerland's Federal Prosecutor has opened an investigation into the state-backed takeover of Credit Suisse by UBS Group, the office of the attorney general said on Sunday.
Rapid technological advances and fast-changing consumer behaviors have forced retail...
U.S. Treasury Secretary Janet Yellen on Wednesday rejected the idea of a near-term capital increase for the World Bank
Household debt exceeds £2 trillion for the first time in UK history. As consumers struggle with the skyrocketing costs of living, financial literacy hits rock bottom.
Investor confidence in the banking sector remained fragile on Tuesday, with the European Central Bank (ECB) saying recent volatility highlighted the need for greater regulatory scrutiny.
Britain's No. 2 Treasury official said on Tuesday that he does not have any immediate concerns about the execution of Switzerland's Credit Suisse rescue by UBS but will monitor the deal closely, reiterating that UK banks are "very resilient."
Recent data from Adobe Analytics shows the growth in the demand for online home furnishing and groceries shopping, by shoppers leveraging on Buy Now Pay Later.
U.S. Treasury Secretary Janet Yellen sought to reassure jittery investors that American bank deposits were safe and promised policymakers had more firepower to battle any crisis even as bank stocks resumed their slide on Thursday.
The dollar headed on Thursday for its longest losing streak in 2-1/2 years after the U.S.
The Bank of England (BoE) raised interest rates for the 11th time in a row on Thursday, but said a surprise resurgence in inflation would probably fade fast, prompting speculation it had ended its run of hikes.
