Finance news - UK & global economic news

Finance

City of London financial district, London

UK-based banks contributed 5.5% to government tax receipts

Banks paid £34.2bn in taxes in the year ending March 2016, BBA says.

Nov 9, 2016

By Karthick Arvinth

Brexit London

Chancellor Philip Hammond urged to lift borrowing cap on local authorities for social housing

Government needs to think creatively on addressing growing housing crisis, construction industry says.

Nov 9, 2016

By Rachel Middleton

Panama Papers: How to check online searchable database set to be released today

UK investigates 22 suspected tax evaders named in Panama Papers

Some 43 high net worth individuals placed under review by government task force.

Nov 9, 2016

By Karthick Arvinth

Panama Papers Philip Hammond

Punch Taverns swings to pretax profit of £60m in fiscal 2016

Punch Taverns reports pretax profit of £60m in fiscal 2016

This is a big improvement over the £105m loss it reported in the last fiscal year.

Nov 8, 2016

By Kedar Grandhi

Hedge fund investor 'doubles money' on Tower poppies

Just a third of the money raised by last year's Tower of London display went to charity.

Nov 6, 2016

By Jen Offord

Google Ireland pays just €46.5m in corporation tax even as revenues increase 23% to €22.6bn

The Dublin-based subsidiary said the low taxes were because its taxable profits were just €341m.

Nov 5, 2016

By Kedar Grandhi

Google

Blockchain: RBS builds Ethereum-based distributed clearing house

Richard Crook, head of Innovation Engineering at RBS talks about a cross border payment system using distributed ledger technology.

Nov 4, 2016

By Ian Allison

Ethereum Bitcoin

How machine learning RegTech can spot disguised sanction-listed names

UK based ComplyAdvantage, which uses data analysis and machine learning, is at the forefront of 'RegTech'.

Nov 4, 2016

By Ian Allison

Fintech firms are innovative but pose little risk to traditional banking systems: G20 watchdog

Regulators are 'acutely aware' of the need to monitor for financial innovation.

Nov 4, 2016

By Jason Murdock

Bitcoin London

The Warren Buffett mantra: How experts invest in an uncertain climate

In an uncertain macroeconomic environment, investing legend Warren Buffett's trading strategy still rings true.

Nov 4, 2016

By Nick Batsford

Brexit

Standard Chartered says earnings are ‘not yet acceptable’ as it reports third quarter operating income of $3.47bn

Standard Chartered says earnings 'not yet acceptable' as it declares third quarter results

The bank's operating income stood at $3.47bn, marginally lower than what it achieved in the same period last year.

Nov 1, 2016

By Kedar Grandhi

LON:STAN

Mark Carney extends Bank of England governor role to 2019 to help deal with Brexit

Governor of country's central bank opts to stay on a governor until negotiations with EU ends.

Oct 31, 2016

By Ewan Palmer

Bank of England Brexit

WPP reports growth in third quarter revenue but says UK business slowed after “perhaps the first signs of Brexit anxiety”

WPP third quarter revenues rise but UK growth slows

WPP's results show the company had benefited from the post-Brexit softening of the pound.

Oct 31, 2016

By Kedar Grandhi

Brexit banks run? UK financial services could flee London, official says

Non-EU banks based in London could move to the EU if Britain leaves single market.

Oct 28, 2016

By Dan Cancian

Brexit Theresa May London

Ethical investing: Good for your health, and good for your wealth

Sustainable businesses are well worth considering given they are now credible and profitable undertakings.

Oct 28, 2016

By Michelle McGrade

Brexit COP21

Barclays, UBS settle Libor manipulation lawsuit with US bondholders

Terms of the Libor litigation settlement between Barclays and UBS and the bondholders were not revealed.

Oct 26, 2016

By Gaurav Sharma

Barclays

Heathrow expansion villages under threat

The historic villages due to be bulldozed to make way for third runway at Heathrow

Around 750 homes – some dating back to the 17th century – would be bulldozed.

Oct 25, 2016

By David Sim

Travel pictures

Gig economy £5m bond to close despite prospects for market shake-up

Firm to close sharing economy bond even though a tribunal ruling could shake up employment rights in the sector.

Oct 24, 2016

By Roger Baird

Uber

Saudi Arabia and Qatar's banks most resilient to oil shock amongst Middle Eastern peers

Ratings agency Fitch says Saudi and Qatari banks are better placed than Gulf Cooperation Council peers to cope with a possible oil price shock.

Oct 24, 2016

By Gaurav Sharma

Saudi Arabia United Arab Emirates

Could a spike in inflation rein in Britain's housing market?

If swap rates continue to rise and mortgage providers decide to pass on the increase, then housing finance will tighten.

Oct 24, 2016

By Marcus Dewsnap

Brexit Bank of England

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