Britain Moves to Curb Risky Crypto Practices Under New Regulatory Framework
It was announced by Britain’s financial regulator on Friday that new measures would soon be introduced to limit consumers’ ability to use credit cards for purchasing cryptoassets and to restrict access to crypto lending products. These steps have been proposed as part of a broader initiative aimed at increasing consumer protection, coinciding with the first […]
Empowering Growth: Britain’s Call to Insurers for Investment and Infrastructure Development
Britain’s financial landscape is undergoing a significant transformation, and at the heart of this shift lies the insurance sector. Financial Services Minister Bim Afolami recently underscored the pivotal role of insurers in driving economic growth and infrastructure development in the post-Brexit era. With billions of pounds in capital freed up due to relaxed capital rules, […]
Britain mistakenly puts Russian central bank’s address
Britain mistakenly assigned the address of the Russian central bank to a privately held bank with close links to Russian President Vladimir Putin. This was the target of sanctions announced by Prime Minister Boris Johnson. Johnson slapped sanctions on five private banks. The government said that it was privately owned by elite Russian billionaires with direct links to Putin. The […]
Britain’s metro bank shares slide
U.S. private equity firm Carlyle said that the talks about a possible takeover offer for Metro Bank have ended. This is by sending shares in the British lender tumbling 16%. Metro Bank had announced the takeover approach from Carlyle. For this announcement from Carlyle, the lender responded that the board continues to strongly believe in the standalone strategy and […]
Fix public finance before cutting taxes
British finance minister Rishi Sunak said that tax cuts could only come once public finances had been put on a sustainable footing. The government had set out plans to raise taxes on workers, employers and some investors. This is for fixing a health and social care funding crisis. Speaking in a hall at the governing […]
6-month staff visa for Britain’s financial sector
Britain’s financial sector has called on the government to ease visa requirements on overseas staff. This is mainly for staffs who want to work up to six months in the country. A Global Talent Mobility report from TheCityUK, City of London Corporation and consultants EY set out ways to overcome the challenges faced by banks, […]
Higher taxes are coming
Taxes in the world’s wealthiest countries are rising. In this unprecedented COVID-era debt surge and according to some investors, even a good thing if it helps close the wealth gaps the pandemic has exacerbated. Tax rises got the headlines recently. This is when Britain GDP, upped taxes on workers and employers, which is around 12 […]
Sterling little changed by Britain’s 4.8% GDP growth in Q2
Sterling edged lower as analysts expected the Bank of England to make no imminent moves in its monetary policy after official data showed Britain’s economy grew in line with expectations in the second quarter. The Office for National Statistics said that the economy grew by 4.8% in the second quarter. Sterling was little changed and […]