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☆ Most Gen Z Brits want to 'be their own boss' — but one expert says they'll face a reality check
▼ + stars: | 2024-09-13 | by ( Sawdah Bhaimiya | ) www.cnbc.com time to read: +2 min

Gen Z is increasingly proving to be the entrepreneurial generation, with the majority wanting to set up their own business — but one expert warns it might not be as straightforward as they think. In contrast, just over a third of Gen X and Boomers said there were fewer opportunities to start their own businesses when they were young because of pressures to pursue traditional education and career paths. Gen X were born between 1965 and 1980, while baby boomers were born following World War II, between 1946 and 1964. "Gen Z is proving to be the most entrepreneurial generation yet, and it's no coincidence," Sam Jones, Dragon's Den star and founder of Gener8, said in the survey. "Instead, entrepreneurship appeals to Gen Z as it offers more control over their work and life, opportunities for innovation, and the potential to leverage their technological skills.

Persons: Z, —, X, Gen X, Sam Jones, Dragon's, Gener8, they've, They're, –, Dan Schawbel, Alexis Firment, they're, Schawbel, Gen Organizations: Santander UK, Boomers, Workplace Intelligence, CNBC Locations: Ohio

A day after Britain's fast pace of price growth unexpectedly slowed, the BoE's Monetary Policy Committee voted by the narrowest margin of 5-4 to keep Bank Rate at 5.25%. But rate futures suggested they still saw a 50% chance of Bank Rate rising to 5.5% by the end of this year. Britain's economy, hit hard by Brexit, the COVID-19 pandemic and the surge in gas prices triggered by Russia's invasion of Ukraine, has been struggling with the highest inflation rate in the Group of Seven. But growth remains fragile, heightening the risk that the BoE's 14 back-to-back rate hikes will push the economy into a recession. Last week, the European Central Bank raised rates but suggested its move might be the last for now.

Persons: Andrew Bailey, Jon Cunliffe, Megan Greene, Jonathan Haskel, Catherine Mann, BoE, Reuters Graphics Sterling, Bailey, Rishi Sunak, Peter Nicholls, Frances Haque, Reuters Graphics Bailey, Yael Selfin, Hugh Gimber, William Schomberg, Catherine Evans Organizations: Bank of England, Reuters Graphics, U.S ., MPC, REUTERS, Santander UK, IF, U.S . Federal Reserve, European Central Bank, KPMG, Investors, Bank of, Morgan Asset Management, Thomson Locations: Ukraine, London, Britain

☆ Stingy UK bank saving rates may become a non-issue
▼ + stars: | 2023-08-10 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

LONDON, Aug 10 (Reuters Breakingviews) - Banks are keeping the fruits of higher interest rates for themselves. Between January 2022 and May 2023, the Bank of England hiked rates by 4.25 percentage points. The nine largest UK banks boosted the interest on easy-access savings accounts by 1.18 percentage points, the FCA found. The upshot is that they’ll have to bid more aggressively for funding in the future, for example by raising interest rates on savings accounts. Second-quarter results suggest it too is paying more for funding: interest expense almost doubled between the second half of 2022 and the first half of 2023.

Persons: juicier, BoE, George Hay, Streisand Neto Organizations: Reuters, Authority, Barclays, Lloyds Banking Group, Bank of, FCA, Monday, Reuters Graphics Reuters, NatWest, Barclays ’, Lloyds, Banco Santander, Banco Bilbao Vizcaya Argentaria, European Central Bank, Bank of England, ECB, Spanish, Financial, HSBC, Santander UK, Nationwide Building Society, TSB Bank, Virgin Money, Bank, Thomson Locations: Britain, Spain, Bank of England, Italy, Hungary

☆ Britain's banks told to justify low savings rates by end of August
▼ + stars: | 2023-07-31 | by ( Huw Jones | ) www.reuters.com time to read: +2 min

REUTERS/Henry Nicholls/File PhotoLONDON, July 31 (Reuters) - Britain's banks and building societies have until the end of August to justify to regulators why some of their savings rates are low or face sanctions, the markets watchdog said on Monday, as Bank of England rates look set to rise to their highest since 2008. Smaller lenders offer higher savings rates than their bigger rivals, the FCA added. "Firms offering the lowest savings rates will be required to justify by the end of August how those rates offer fair value, according to the consumer duty that enters into force today," the FCA said in a statement. Banks and building societies offering the lowest rates have to complete a "fair value" assessment for the regulator by the end of August. The FCA will also review the timing of changes to savings rates each time BoE rates move, publish an analysis every six months of easy-access rates, analyse how savings products contribute to profitability and, by the end of March 2024, review how firms engage with customers.

Persons: Henry Nicholls, Banks, BoE, Huw Jones, Kevin Liffey Organizations: REUTERS, Bank of, Financial Conduct Authority, Lloyds, HSBC, NatWest, Santander UK, Barclays, Nationwide Building Society, TSB Bank, Virgin Money, Bank, FCA, Thomson Locations: London, Britain

☆ Stress test shows top 8 UK banks have enough capital, says Bank of England
▼ + stars: | 2023-07-12 | by ( Huw Jones | ) www.reuters.com time to read: +3 min

[1/3] A worker cleans a Barclays logo outside a bank branch in the financial district of London, Britain July 8, 2019. The test also measured how well the lenders would cope with a global rise in interest rates. "Major UK banks’ capital and liquidity positions remain robust and profitability has increased, which enables them both to improve their capital positions and to support their customers." The Bank said it had decided to maintain its counter-cyclical capital buffer (CCyB) for banks unchanged. Given its successful completion of the stress test, Virgin Money said it anticipated resuming its share buyback programme during this year, sending its shares 3% higher in early trading.

Persons: Simon Dawson, BoE, Virgin Money, Huw Jones, Sinead Cruise, Mark Potter Organizations: Barclays, REUTERS, Bank of England, Lloyds, HSBC, NatWest, Santander UK, Standard Chartered, Nationwide Building Society, Virgin Money, The Bank, Bank, Virgin, Britain's, Nationwide, Standard, Silicon Valley Bank, Thomson Locations: London, Britain, United States, Silicon Valley, U.S

☆ UK plans to reimburse scam victims 'fundamentally flawed,' lawmakers say
▼ + stars: | 2023-02-06 | by ( Iain Withers | ) www.reuters.com time to read: +2 min

LONDON, Feb 6 (Reuters) - Proposals to reimburse hundreds of millions of pounds to scam victims in Britain are "fundamentally flawed" and are taking too long to come into force, lawmakers said in a report published on Monday. So-called "authorised push payment" scams have become Britain's largest type of payment fraud and cost customers 583 million pounds ($715 million) in 2021. Lawmakers on Britain's powerful Treasury Select Committee criticised the plans and said mandatory reimbursements should begin this year at the latest, and not as late as 2024. "Putting an industry body in charge of reimbursing scam victims is like asking a fox to guard the henhouse," said Harriett Baldwin, chair of the Treasury committee. The PSR said it would consider all feedback before publishing its final position in May this year, adding it regulated payment system operators including Pay.UK.

LONDON, Dec 9 (Reuters) - Britain's Financial Conduct Authority said it had fined Santander (SAN.MC) 107.7 million pounds ($132 million) for "serious and persistent" gaps in the Spanish bank's anti-money laundering controls for more than 560,000 business customers. The FCA said on Friday that between Dec. 31 2012 and Oct. 18 2017, Santander's UK arm failed to properly oversee and manage its anti-money laundering systems. Santander UK said it accepted the FCA's civil regulatory findings in relation to anti-money laundering controls in its business banking division. The FCA has stepped up action against failings in bank money laundering controls in recent years. The FCA has also fined Standard Chartered and HSBC in the last three years for anti-money laundering breaches.

☆ UK banks’ Big Bang thankfully looks like big flop
▼ + stars: | 2022-11-30 | by ( Liam Proud | ) www.reuters.com time to read: +4 min

Yet, the mooted changes would probably only benefit middling lenders like Santander UK, Virgin Money (VMUK.L) and Banco Sabadell’s (SABE.MC) TSB Bank, according to the FT. And on Wednesday, the BoE’s supervisory body said it planned largely to stick to international bank-capital rules, dubbed Basel 3.1. But the big flop might not be such a bad thing for the country’s financial sector. Separately, the government’s City minister Andrew Griffith said on Nov. 29 that he wanted to relax the so-called ringfencing regime that forces large British lenders to separate their retail and investment banking arms. According to the Financial Times, the ringfencing regime would still apply to the biggest UK banks but there could be exemptions for lenders with limited trading operations including Santander UK, Virgin Money and TSB Bank.

☆ Global rates, retail banking included in Bank of England stress test
▼ + stars: | 2022-09-26 | by ( ) www.reuters.com time to read: +2 min

A general view of the Bank of England (BoE) building, the BoE confirmed to raise interest rates to 1.75%, in London, Britain, August 4, 2022. REUTERS/Maja Smiejkowska/File PhotoLONDON, Sept 26 (Reuters) - Banks' ability to cope with rising global interest rates and the resilience of their retail divisions to market shocks will be under scrutiny in this year's "stress test", the Bank of England said on Monday. It will test "ring-fenced" retail arms of banks on a standalone basis for the first time, the BoE said. There will be a separate stress test of misconduct costs. The test has no pass or fail mark but a bespoke "hurdle" for each bank.

☆ (foto) Lista celor mai influente femei din lume în anul 2020 conform Revistei Forbes
▼ + stars: | 2020-12-09 | by ( Onixmedia Srl | ) diez.md time to read: +4 min

În data de 14 martie 2018, a fost aleasă de Bundestag pentru a patra oară în funcția de cancelar federal. În anul 2021, va fi a 49-a persoană care deține poziția de vicepreședintă a Statelor Unite ale Americii. În data de 2 iulie 2019, a fost nominalizată de Consiliul European pentru funcția de președintă a Comisiei Europene. Înainte de aceasta, a fost directoare generală a Santander UK, o funcție pe care a deținut-o din decembrie 2010. Începând cu 2014, ea a fost președintă și directoare executivă a companiei americane de investiții Fidelity Investments (FMR) și președintă a companiei sale internaționale sindicale Fidelity International (FIL).

Persons: Angela Merkel, Christine Lagarde, Harris, Angela Merkel Angela Dorothea Merkel, Christine Madeleine Odette Lagarde Christine Madeleine Odette, Lagarde, Ea, Kamala Devi Harris Kamala Devi Harris, Ursula Gertrud von, Albrecht, Ursula von, Walter Hallstein, Melinda Ann Gates Melinda Ann Gates, Bill Gates . Ea, Bill, Melinda Gates, Mary Barra, Nancy Pelosi Nancy Patricia D’Alesandro, Nancy Pelosi, Mike Pence, Ana Patricia Botín, Patricia Botín, Sautuola, Abigail Pierrepont Johnson Abigail Pierrepont Johnson, Gail Koziara Organizations: Forbes, Monetar, FMI, CDU, Europene, Parlamentul European, Economice Europene, Microsoft, Microsoft Bob, General Motors, Partidului Democrat din, SUA, Santander, Santander UK, International, Aetna, UnitedHealth Group Locations: Republicii Federale Germania, Bundestag, german, Christine Madeleine Odette Lagarde Christine Madeleine Odette Lagarde, Franța, Statelor Unite, California, Statelor Unite ale Americii, Ursula Gertrud von der, Ursula von der, Germania, DBE, America, Barra, Nancy Pelosi Nancy Patricia D’Alesandro Pelosi, americană, Partidului Democrat din SUA, Nancy, Statele Unite, Spania, Santander, Investments, SUA, Illinois

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