To cover fraud and default on the £77bn state-guaranteed loans given to struggling companies during the coronavirus lockdowns, more than £4.4bn worth of taxpayers’ money was paid to British banks.
City of London Tries to Divert Tax Raid on Banks, Chancellor Jeremy Hunt’s claim that “nothing is off the table”
As the UK seeks to plug its funding gap, there are growing concerns in London regarding higher taxes being imposed upon banks.
UK Mortgage Rates Continued to Rise on Monday
Britain’s mortgage prices continued to rise on Monday as Kwasi Kwarteng, Chancellor of Exchequer, prepares to address restless Tory politicians to win back trust in his economy handling.
U.K. Inadequate’ Fraud Protection on Covid loans
According to the spending watchdog, the U.K. did not put in place effective measures to protect taxpayers from fraudulent pandemic loans to businesses of up to 4.9 billion pounds ($6.5B).
$200m of new loans secured by Cineworld Group
(CINE ), UK’s biggest cinema exhibitor chain has announced that it has secured $200m in incremental loans from existing lenders. These loans will mature in May 2024.
How Can Economic Indicators Impact Stock Prices?
Economic indicators are an integral component of the financial markets, and they have a tremendous bearing on stock prices. This behind-the-scenes guide reveals all.