Renewed anxiety over the Iran-US truce has lifted oil prices as risk concerns disrupt tanker traffic through the Strait of Hormuz. Analysts say markets are reacting to geopolitical uncertainty, which could feed through to higher petrol prices if shipping remains constrained. In the US, average petrol prices edged up to USD 3.80 per gallon. News […]
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Warsh also announced five task forces to review the Fed’s operations, including one focused on communications, though the minutes noted that only “some participants commented that they welcomed the opportunity to review the Committee’s communications tools and practices.” The updated dot plot of individual rate projections tilted narrowly toward one hike this year. Nine of […]
Tens of thousands more households could be dragged into paying the ‘mansion tax’ under rumoured plans, if Burnham becomes the new Labour leader. The prime minister-in-waiting could potentially lower the threshold at which people start to pay the High Value Council Tax Surcharge from £2 million to £1.5 million, according to reports in The Mail […]
Present Committee members: David Roberts, ChairAndrew Bailey, GovernorSarah Breeden, Deputy Governor – Financial StabilityClare Lombardelli, Deputy Governor – Monetary PolicySir Dave Ramsden, Deputy Governor – Markets & BankingSam Woods, Deputy Governor – Prudential RegulationJonathan BewesSabine ChalmersLord Jitesh GadhiaDame Anne GloverDiana NobleTom Shropshire In attendance: Sarah John, Chief Operating Officer Secretary: Sebastian Walsh, Secretary of the […]
Singular Bank is a Spanish wealth manager. Credit: lma_ss / Shutterstock.com ING has agreed to acquire a stake of around 40% in Spanish wealth manager Singular Bank. The Dutch bank is buying the stake from private equity firm Warburg Pincus, which currently owns 93% of Singular Bank. Access deeper industry intelligence Experience unmatched clarity with […]
Oil prices surged Wednesday after President Donald Trump threatened to bomb Iran for a second day and reimpose the U.S. naval blockade in retaliation for attacks on tankers transiting the Strait of Hormuz. West Texas Intermediate futures rose 4.4% to close at $73.52 per barrel. Brent futures, the international benchmark, jumped 5.3% to $78.07. Speaking at […]
United Trust Bank (UTB) Mortgages has made rate reductions of up to 100 basis points across selected products and the launch of new 90% and 95% loan-to-value (LTV) mortgages for super prime and prime plus borrowers. Residential mortgage rates now start from just 5.24%, with new lending available up to 95% LTV and maximum loan […]
Federal Reserve officials were split last month about the future of interest rates, with policymakers entertaining scenarios in either direction, according to meeting minutes released Wednesday. In Kevin Warsh‘s first meeting June 16-17 as chairman of the Federal Open Market Committee, participants saw outcomes where inflation could ease and allow lower rates, while others envisioned […]