Could cladding scandal trigger new bank crisis? Finance industry could see widespread mortgage defaults if leaseholders are forced to pay for safety repairs, MPs are warned Widespread mortgage defaults could spark a economic meltdown, expert warns It is due to cladding on buildings which could cost thousands to homeowners Expert says unaffordable bills would cause … Read more
Bank of England chief Andrew Bailey warns the EU against ‘serious escalation’ of post-Brexit row over City firms, warning that its attempts to force them to relocate in the eurozone would be of ‘dubious legality’ Andrew Bailey faced MPs on the Treasury Committee this afternoon Europe’s top banks asked to justify why they should be … Read more
Bank of England boss launches broadside at EU over finance industry rules and says it would be a risk to cut off the City of London over demands on standards Andrew Bailey warned the Eu that the UK will not become a ‘rule-taker’ nation Bank of England governor was speaking during annual speech to City … Read more
Britons have revealed how they are spending some of their £150billion in extra savings amassed during the lockdown as the pandemic stopped them from splashing out on expensive holidays and nights out. Families built up their bank deposits from £1.48trillion to £1.63trillion over the course of 2020 – a rise of £151.7billion, the highest since … Read more
Bank of England cuts growth forecasts for this year as it predicts a 4 per cent downturn in first quarter leaving economy 12 PER CENT smaller than before Covid – but says latest lockdown is doing less damage Bank of England has issues its updated forecasts for how UK’s economy will fare Downgraded the estimates … Read more
Britons have saved £150bn during Covid-19 pandemic… now experts urge us to splash out when the economy reopens to breathe life back into the country Britain’s ‘involuntary’ savers squirreled away more than £150billion last year Families built up their bank deposits from £1.48trillion to £1.63trillion in 2020 Bank economist Andy Haldane hopes war chest will … Read more
Inflation rose from 0.3 per cent to in 0.6 per cent in December putting more pressure on families with clothes and travel costs rising By James Tapsfield, Political Editor For Mailonline Published: 07:10 GMT, 20 January 2021 | Updated: 07:13 GMT, 20 January 2021 Inflation rose to 0.6 per cent in December as clothes and … Read more
Bank of England deputy warns furlough billions are ‘no free lunch’ and says consumer spending during Covid pandemic is being ‘funded by tomorrow’s taxpayers’ Government has increased spending by almost £300bn due to the pandemic Support has ranged from furlough scheme to Universal Credit £20 top-up Bank of England deputy governor Ben Broadbent warned it … Read more
BREAKING NEWS: Arsenal take out a £120m loan through Bank of England’s Covid scheme to help them cope with the impact of the pandemic – despite splashing out £45m on one player in October and paying Mesut Ozil £350k-a-week but not playing him Arsenal announced they have borrowed £120million from the Bank of England … Read more
Bank of England chief Andrew Bailey tried to remove his name from a damning report into a £237m savings scandal – as MPs call for a full inquiry Andrew Bailey ran the Financial Conduct Authority until March He was named and shamed in probe into watchdog’s handling of London Capital & Finance disaster Scandal saw … Read more
The FA borrow £175m from the Bank of England to help ease pressure on finances during the coronavirus pandemic with the governing body bracing for losses of £300m The FA have taken out a £175m loan from Bank of England to protect finances The governing body are on course to lose up to £300m due … Read more
Leadership in football is an ’embarrassment’ with Premier League and EFL ‘fighting like cats in a sack’, it is claimed – as Gary Neville urges Parliament to step in and create an independent regulator to oversee the national game as a ‘last resort’ The ‘Saving the Beautiful Game’ campaign group met with MPs and peers … Read more
Tough coronavirus restrictions stalled UK’s economic recovery from October onwards but vaccine good news is set to boost rebound, says Bank of England chief economist Andy Haldane said ‘rollercoaster’ year will be capped with a ‘small contraction’ He said activity slowed in fourth quarter because of distancing and tiered curbs However he pointed to November … Read more