Financial — Page 2

The UK’s top financial influencers skew Conservative – which helps explain why Keir Starmer’s Labour is so anxious about uncosted spending pledges

The UK’s top financial influencers skew Conservative – which helps explain why Keir Starmer’s Labour is so anxious about uncosted spending pledges: It has become a common complaint among some Labour supporters that Keir Starmer and shadow chancellor Rachel Reeves are being too cautious about their spending commitments in preparing for a future Labour government. …

How new ‘consumer duty’ rules for financial products could reduce debt-related stress

How new ‘consumer duty’ rules for financial products could reduce debt-related stress: Grusho Anna/Shutterstock New “consumer duty” rules introduced by the Financial Conduct Authority (FCA) aim to set clear standards for the protection of financial consumers. Banks, building societies, investment and insurance firms, as well as many other types of business, are being told to …

Bank account closures don’t just affect ‘politically exposed persons’ – sex workers have struggled with financial exclusion for years

Bank account closures don’t just affect ‘politically exposed persons’ – sex workers have struggled with financial exclusion for years: BongkarnGraphic/Shutterstock The fallout over the closure of Nigel Farage’s bank account has shed light on how financial institutions handle “politically exposed persons”, whom they may view as high-risk clients. Farge, the former Ukip leader, who held …

How your favourite things can boost your financial wellbeing

How your favourite things can boost your financial wellbeing: Thinking about a favourite book. Krakenimages.com/Shutterstock The cost of living crisis has left many people struggling to afford basic necessities such as food and heating for their homes. On the other hand, the top ten richest men in the world doubled their wealth during the COVID …

Professional men’s rugby has major financial issues which need to be tackled

Professional men’s rugby has major financial issues which need to be tackled: A 2019 Premiership clash between Northampton Saints and Bath. atsportphoto/Shutterstock The rugby club London Irish was founded back in 1898. Almost 100 years later, it became a fully professional club, just in time to join the inaugural season of the Premiership, England’s top …

The US role in the global financial system is changing – here’s how it could affect the world’s economy

The US role in the global financial system is changing – here’s how it could affect the world’s economy: Anneka/Shutterstock The last-minute resolution of the US debt ceiling crisis recently has led to a collective sigh of relief in global financial markets. But the way it was resolved has renewed concerns about the the dominant …

How cashless societies can boost financial inclusion — with the right safeguards

How cashless societies can boost financial inclusion — with the right safeguards: Accepting digital payments. WESTOCK PRODUCTIONS/Shutterstock Cashless societies, where transactions are entirely digital, are gaining traction in many parts of the world, particularly after a pandemic-era boom in demand for online banking. Improvements in digital payment infrastructure such as mobile payments, digital currencies and …

US banking failures: the role of big auditors in another financial crisis

US banking failures: the role of big auditors in another financial crisis: Three recent and very serious US bank failures – Silicon Valley Bank (SVB), Signature and First Republic – have one common denominator: all three businesses were audited by one of the world’s major professional services firms, KPMG. The company has stood by its …

Digital bank runs: social media played a role in recent financial failures but could also help investors avoid panic

Digital bank runs: social media played a role in recent financial failures but could also help investors avoid panic: SObeR 9426/Shutterstock A crisis of confidence in the US banking sector led people to pull their money from banks including Silicon Valley Bank and Credit Suisse, and more recently, First Republic Bank and California-based PacWest Bancorp. …

ChatGPT: how to use AI as a virtual financial adviser

ChatGPT: how to use AI as a virtual financial adviser: Tech support for investors. Darunrat Wongsuvan/Shutterstock From chatbots and virtual assistants to fraud detection and risk management, artificial intelligence (AI) is now being used in many areas of finance. But what could an AI system like ChatGPT do for your bank balance? AI tools might …

Four myths about the financial side of divorce

Four myths about the financial side of divorce: News headlines tell you little about the realities of divorce for most couples Prostock-studio/Shutterstock It’s no wonder many people think divorce involves going to court, huge legal fees and decades of spousal payments, considering these are the cases that dominate our headlines. However, the kinds of divorce …

What central banks are doing to safeguard financial stability and why they must proceed with caution

What central banks are doing to safeguard financial stability and why they must proceed with caution: Trying to maintain some stability. David Gyung/Shutterstock Before a crucial week of interest rate decisions for central banks, and on the eve of the emergency takeover of banking giant Credit Suisse, the Bank of England and five other major …

People with a history of poor mental health were more likely to face psychological and financial problems during the pandemic

People with a history of poor mental health were more likely to face psychological and financial problems during the pandemic: Dragana Gordic/Shutterstock More than a million people in England are waiting for mental health support due to soaring demand exacerbated by the pandemic. On top of this, an estimated eight million people with mental health …

China’s latest diplomatic move will extend its trade, energy, financial and maritime power

China’s latest diplomatic move will extend its trade, energy, financial and maritime power: China’s billions of dollars in global investments and infrastructure projects seem to be paying off politically and economically. Just recently, Honduras signalled it is set to cut diplomatic ties with Taiwan, having been one of the few remaining countries to recognise the …

How changing banks’ corporate social responsibility reporting could prevent future financial failures

How changing banks’ corporate social responsibility reporting could prevent future financial failures: A company's internal structure can provide protection from external events. Andrey_Popov/Shutterstock The recent collapse of Silicon Valley Bank (SVB) – the failure of the biggest US lender since the 2008 global financial crisis – has created waves across the global banking system. The …

Silicon Valley Bank: 19th-century financial crises show how today’s regulators could help repair the economy

Silicon Valley Bank: 19th-century financial crises show how today’s regulators could help repair the economy: A bank failure wipes out the money available to its customers and freezes any capital that’s already in circulation. Depositors, borrowers and owners or shareholders all suffer as a result, as does wider economic activity and often the communities or …

The Wall Street Journal, Economist and Financial Times all now have female editors – what does it mean for business?

The Wall Street Journal, Economist and Financial Times all now have female editors – what does it mean for business?: February 1 was a date to celebrate for women in business everywhere. It happened to be the day that water group Severn Trent became the first large UK quoted company to be led by an all-female …