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UK housing prices in April: the largest monthly rise in 17 years

Posted on 05.05.2021

Housing prices are showing no signs of cooling down. On Friday, new data showed that since February 2004, the most considerable increase in average UK house prices occurred in April 2021.  Home price growth per year rebounded to 7.1% in April compared to 5.7% in March. The median price was at £238,831 in April, 2.1% higher from March, as reported by Joanna Bourke for the Evening Standard. Over the past year, prices are now up £15,916. Nationwide’s data covers the month f ...

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UK Regulators Scrutinize Buy Now, Pay Later Firms

Posted on 09.02.2021

Firms like Klarna offer shoppers the ability to pay for items in installments or even defer payments for up to 30 days. Major country-wide retailers now offer these services, hoping to attract more younger customers. And it’s working. Buy Now, Pay Later services saw a fourfold increase over the past year. However, the Financial Conduct Authority (FCA) has decided to regulate these as they could lead to the accumulation of massive consumer debts.  Concerns over looming debt growth Th ...

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Pandemic Reveals Weakened but Resilient UK Economy

Posted on 04.02.2021

Britain’s economy has taken a beating since the first wave of the COVID-19 pandemic. Following the first lockdown in late March 2020, the world’s sixth-largest economy contracted more than its peers and is now 8.5% smaller than it was before the onset of the pandemic, according to Reuters UK. Following Britain’s second lockdown, announced in October 2020, the economy continued to decline intoNovember of last year, but ...

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Who’s leading the financial industry’s ESG race?

Posted on 02.04.2021

Governments around the world are pledging their contributions to achieving net-zero carbon emissions. But they can’t achieve those targets without their largest institutions. The financial sector therefore has a significant role to play as it finances the businesses that will eventually lead the move away from fossil fuels. According to Alva’s ESG intelligence index, Citigroup is ahead in terms of its policy impact. It scores 59 on the index, making it the top bank after St ...

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The Coinbase IPO could be your second chance at investing in crypto

Posted on 15.04.2021

Are you one of the many who decided to take the superior path and opt out of buying Bitcoin when normal people could actually afford it? It seems you could have another chance. Coinbase finally went public with its much anticipated listing on Nasdaq on Wednesday. It trades under the symbol COIN and closed its first-day trading just above the 328 dollar mark. The valuation makes the company the largest ever to opt for a direct listing on the stock exchange.  What is Coinbase? Coinbase is t ...

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45% of UK millennial investors buying crypto, half on debt

Posted on 09.07.2021

Young UK investors said their first investment was in crypto. Almost half of the 45% who did so used debt. Millennials believe cryptocurrencies offer better returns than traditional assets favored by their parents and grandparents. A minority of young investors are in it for the long term. A Charles Shwab survey in April showed half of young investors actively trading crypto. Another 20% believe it’s a solid investment choice. Cryptocurrency ranked second after cash as the preferred savin ...

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NatWest will reject to serve business customers who accept cryptocurrencies

Posted on 22.04.2021

NatWest will reject to work for business customers who accept payment in cryptocurrencies such as bitcoin, which the UK lender has labeled as “high risk”. Morten Friis, one of the NatWest board members, and head of its risk committee, said the bank was taking a “cautious approach” to cryptocurrencies, and would carefully monitor any modification in tone from the UK regulator, which has advised that consumers stand to lose all their cash by investing in cry ...

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Increasing fuel costs push UK inflation to 0.7% in March

Posted on 21.04.2021

The UK inflation rate increased to 0.7% in the 12 months to March, up from 0.4% in February, driven up by the boosted cost of fuel, transport and clothes. Economists' projections were slightly higher than the figure from the Office for National Statistics (ONS), with lower food prices compensating other price increases. Fuel prices in March demonstrated their greatest annual rise since January 2020, the ONS said. Inflation is estimated to rise further due to elevated energy and oil prices ...

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Britcoin pros and cons as the idea moves toward reality

Posted on 27.07.2021

Chancellor Rishi Sunak is moving forward with the idea of a digital central bank cryptocurrency, Britcoin. A task force was established, formed of Treasury and Bank of England officials, to examine the merits of Britcoin and report back to Sunak by year-end. The move would be a revolution in the monetary system as the BOE establishes a digital equivalent to the sterling and controls it.  Unlike unpegged cryptocurrencies, Britcoin would be linked to the pound and backed by the central bank. ...

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The British government has launched a much needed “breathing space” scheme

Posted on 06.05.2021

The “breathing space” scheme was launched on the 4th of May. The goal of this plan is to assist Brits who are facing difficulty with debts.  This financial support program will protect borrowers against debt collectors, prosecution, and bailiffs for the next two months.  To avail scheme, the debtor’s consent to work with debt experts to sort out a long-term plan to get them out of debt, as reported by Levi Winchester for Mirror. A person with debts must also keep up ...

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