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Banks warn businesses to prepare for negative interest rates

Natwest and Royal Bank of Scotland have written to business customers warning they may have to charge them to hold desposits as a result of low global interest rates. This would signal the first time UK banks to introduce negative interest rates, the BBC reports. The letter, sent to 1.3 million combined business and commercial […]

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Andrew Bailey begins reign as FCA chief

Former Prudential Regulation Authority head Andrew Bailey begins his new role as Financial Conduct Authority chief executive today. Bailey succeeds Tracey McDermott, who was been interim chief executive since Martin Wheatley exited in September 2015. The PRA’s most recent annual report shows Bailey was paid a total of £350,000 in 2015/16, this rises to £460,000 at the […]

Fidelity’s Wright: Snatching profits from political uncertainty

The long-term economic impact of the UK’s decision to leave the EU is highly uncertain and well outside the predictive powers of politicians and so-called experts. However, shorter term, it is clear that confidence is taking a body blow. Over the next weeks and months we can probably expect both internal and external investment in […]

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