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Investment banks mislead clients and suppress competition, says watchdog

Investment banks should do more to encourage competition and fairer treatment of customers, Britain’s financial watchdog said, proposing changes to help firms to make informed choices about the banks they use.Continue reading

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RBS cuts face-to-face service and brings in ‘robo-advisers’

The Royal Bank of Scotland is preparing to shed 550 jobs as part of a plan to replace staff who offer investment tips with so-called ‘robo-advisers’.Continue reading

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Former Bank of England Boss: Eurozone ‘will affect UK whether in or out’

Former Bank of England boss Mervyn King has argued that the UK will be affected by the Eurozone regardless of whether it votes to stay in or leave the European Union (EU).Continue reading

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Colossal rise in consumer credit and mortgage approvals, says Bank of England data

Recent figures from the Bank of England revealed that British consumers borrowed a colossal £1.6 billion in January 2016 – representative of the second-highest level on record in more than ten years.Continue reading

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£22.2 billion paid out so far in PPI mis-selling scandal

The Financial Ombudsman Service has published the latest complaint figures against financial firms, with banks continuing to dominate.Continue reading

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Britain’s ex-regulation chief warns of indefinite low rates

Former City regulator Lord Adair Turner says the UK is “stuck in a very deep economic malaise” and “radical policies” are needed to get out of it.Continue reading

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UK inflation climbs to 0.2 per cent in December: ONS

UK inflation registered its second consecutive month of growth in December, after remaining close to or below zero for much of last year.Continue reading

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November sees UK inflation rate rise

According to the Office for National Statistics (ONS), the inflation rate for the UK increased to 0.1 per cent last month for the first time in four months.Continue reading

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Bank of England deputy governor enters interest rate debate

The deputy governor of the Bank of England (BoE), Sir Jon Cunliffe, has reportedly stated that the next change to interest rates will be an increase.Continue reading

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Savers see Isa rates fall to a record low

Average cash Isa rates have fallen to just 1.43 per cent as providers continue to steer away from new tax-free offerings, Bank of England data has found.Continue reading

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