Banking reforms could make the UK a sustainable finance hub, but also threaten financial stability: Relaxing some banking rules could affect the stability of the UK's financial sector, largely based in the City of London. Dmitry Naumov / Shutterstock The UK government wants to rewrite the rules designed to keep the country’s banks and financial …
Inflation: how financial speculation is making the global food price crisis worse: Checking food prices. 06photo / Shutterstock UK households, like those in many other countries, are struggling to make ends meet. More than half of households have only £2.66 per week left after paying for bills and essentials, according to figures from the supermarket …
Bankers need to be personally liable to avoid future financial crises — new research: Shutterstock/ImageFlow Most financial crises have plenty in common. They tend to start in the banking sector and involve excessive borrowing, together with an asset bubble, usually related to property. The global crisis of 2008 was no different, with the asset bubble …
Rugby union’s financial crisis: why the sport’s model is ‘broken’: Philippe Montigny/Shutterstock As athletes, rugby union players are notoriously robust. But in England, the finances behind the sport are looking far from healthy. In the space of a few weeks, two of its most famous club teams, Worcester (founded 1871) and Wasps (1866), have gone …
Emergency budget announcement: expert reaction to new UK chancellor’s attempt to calm financial markets: Newly installed UK chancellor, Jeremy Hunt, has unveiled a raft of changes to Kwasi Kwarteng’s September 23 mini-budget, which essentially amounted to a rollback on most of its headline points. The September mini-budget, which included £45 billion in unfunded tax cuts, …
How financial technology can discriminate against people speaking minority dialects – new evidence from China: Chaay_Tee / Shutterstock In the UK, studies have repeatedly found evidence of accentism. Prejudice based on someone’s way of speaking can affect people in the classroom, the office and beyond. Our research of dialects and peer-to-peer lending in China found …
Nobel economics prize: insights into financial contagion changed how central banks react during a crisis: Left to right: Ben Bernanke, Douglas Diamond and Philip Dybvig. The Nobel Foundation This year’s Nobel prize in economics, known as the Sveriges Riksbank Prize in Economic Sciences, has gone to Douglas Diamond, Philip Dybvig and former Federal Reserve Chair …
Only a U-turn by the government or the Bank of England will calm UK financial markets: The Bank of England has promised to take action to calm the financial market mayhem that has followed the announcement of major tax cuts by the UK government. The Bank plans to temporarily buy whatever quantity of long-term debt …
Liz Truss: the financial whirlwind facing the new prime minister: Liz Truss may have won the battle to become Britain’s next prime minister, but don’t expect much time for her to settle into office. People’s living standards are predicted to fall by an unprecedented 10% over the next two years, driven by rising prices of …
As tech giants face a financial downturn, some new players are focusing on people over profit: Emerging technology business models aim to empower consumers Harbucks / Shutterstock The tech industry has been rocked by recent economic woes. While once thought of as close to recession proof, companies from Netflix to Meta are suddenly experiencing serious …
Russian debt default: two experts explain what it means for Russia and for global financial markets: Russia’s recent default on its foreign debt – it’s first since 1918 – has been hailed as proof that the sanctions imposed by western governments since the invasion of Ukraine in February are working. A 30-day grace period on …
Rishi Sunak: Britain’s poorest have little privacy over their financial affairs – the chancellor shouldn’t either: Chancellor Rishi Sunak has asked the prime minister’s independent adviser to look into whether he properly declared his ministerial interests, after a week of headlines about his personal tax arrangements. The fast-rising politician, widely tipped as a future prime …
Ukraine: the 2008 financial crisis is a bigger cause than we realise – just like 1929 with the second world war: The historical parallels are uncanny. A decade or so after the two most devastating financial crises in modern capitalism, in 1929 and in 2008, a terrible conflict begins in Europe that threatens to draw in …
Ukraine and the financial markets: the winners and losers so far: Making sense of the reds and the greens. Standret It’s two weeks since the world woke up to the dreadful news of a Russian attack to Ukraine. Notwithstanding the incalculable costs in terms of human lives, as well as human capital and physical infrastructure, …
Could the Ukraine invasion spark a global financial crisis?: The Russian assault on Kyiv and other Ukrainian cities has intensified uncertainty in the world economy. To condemn Putin’s war, western leaders announced some restrictive economic measures to target Russian financial institution and individuals. The sanctions include: removing some Russian banks from the Swift messaging system …
South Africa and international financial institutions: a liaison group could recalibrate relations: South Africa has borrowed US$ 7bn from international financial institutions since the start of COVID. Beata Zawrzel/NurPhoto via Getty Images Since the onset of the COVID pandemic in 2020, South Africa has borrowed a total of about US$ 7 billion (about R106 billion). …
Ukraine: world financial markets have not broken sweat since the Russian escalation – why?: The economic consequences of armed conflicts have received widespread attention at least as far back as when John Meynard Keynes wrote about them in 1919 in relation to the first world war. Yet as the world braces for a possible war in …
LGBT rights in eastern Europe: explaining financial benefits makes a big difference to people’s views – new findings: Across eastern Europe, it’s still very difficult to pass laws and policies designed to advance LGBT inclusion. With LGBT+ History Month underway, some Ukrainians are worried that their country’s fragile progress in LGBT rights will be set …