Subscribe to our City News News Feed Subscribe to the RSS Feed

'Change of supplier bank details' scam on the rise


‘Big Four’ professional services firm, PwC, have reported a sudden resurgence of a scam in which fraudsters imitate suppliers in order to receive lucrative payments.


Basel frameworks amended to boost trade with low income states


Following further review, the Basel Committee on Banking Supervision has evaluated the Basel II and Basel III c apital framework agreements, today (Tuesday) announcing two amendments intended to foster trade with low-income countries.


How can the Euro be saved?


A holistic approach to solving the interconnected crises threatening the survival of Europe’s single currency must be undertaken by member states in order to prevent catastrophic failure, a professor warns.


MiFID II risks damaging crucial over-the-counter trading


The European Commission yesterday (Thursday) agreed on a second draft of the Markets in Financial Instruments Directive (MiFID) regulation, gathering support and criticism from business.


Drop in public sector borrowing shows deficit reduction remains on-track


Public sector net borrowing dropped £1.3bn in September to £14.1bn, whilst the monthly budget deficit narrowed marginally to £11.9bn, the Office for National Statistics shows.


Government group launched to simplify financial services


‘Simple’ financial products are being developed by government with help from financial industry experts, in order to make it easier for the UK consumer to navigate the complex web of financial services offered.


MiFID II must offer business financial security


The European Commission are to revise the MiFID (Markets in Financial Instruments Directive) scheme intended to curtail speculative, fast-paced trading in the derivatives market, offering consumers greater protection.


Interest rate low sees variable-rate mortgage holders save £2,600


1.8 million mortgage holders whose fixed rate deals have come to an end are currently on their lender’s reversionary variable rate, research published on Thursday by the Council of Mortgage Lenders shows.


G20 ministers agree on financial consumer protection principles


Financial ministers from G20 member states have reached a set of agreements intended to strengthen trust and confidence amongst consumers in the financial sector.


EU financial regulation damages crucial UK growth, warn CBI


Heavy-handed regulation coming from Europe could do serious damage to the UK’s professional and financial services sector, which is crucial for jobs and growth, the CBI’s Director-General John Cridland said last night (Thursday).