Masayoshi Son says AI to surpass human intelligence and that SoftBank will ‘rule the world’. Oh dear…! Main points in brief Masayoshi Son and SoftBank The 66-year-old founded SoftBank, which still controls about 90% of Arm Holdings after the IPO, back in 1981 after graduating from the University of California,Read More →
An apparent ‘technical issue’ halts flights to and from UK as the UK National Air Traffic Services control system (NATS) goes offline! Holidaymakers are stuck all over the UK and abroad, with the National Air Traffic Services (NATS) saying it had applied restrictions to traffic flow. Passengers have been advisedRead More →
‘It’s good to talk’! The former boss of NatWest is set to receive a £2.4m pay package this year, despite having quit in disgrace over her handling of the closure of Nigel Farage’s bank account. A contractual obligation no doubt? Whatever happened to confidentiality? Other cartoonsRead More →
A technical issue that affected the Bank of Ireland’s online banking services allowed some customers to withdraw or transfer more money than they had in their accounts. The glitch reportedly also added €1,000 to some accounts without explanation. This led to large crowds forming at ATMs across the country, hopingRead More →
Chancellor Jeremy Hunt has asked the City watchdog to speed up a probe into whether people have had bank accounts closed due to their political views It follows a row over the closure of former UKIP leader Nigel Farage’s Coutts account. Mr Hunt requested the Financial Conduct Authority (FCA) toRead More →
That’s still 3% above the target of 2% The Bank of England’s forecasting, which has a major impact on the UK economy, is being reviewed and has been criticised. After the Bank raised interest rates for a 14th time in a row in an effort to slow price rises inRead More →
15 year high… and counting The Bank of England (BoE) announced another increase in its base rate, from 5% to 5.25%, the highest level in over 15 years as of 3rd August 2023. This is the 14th consecutive rise since December 2021, when the BoE started to tighten monetary policyRead More →
Banks may use XRP Ripple as a payment system to replace SWIFT XRP Ripple is a payment settlement system and currency exchange network that can process transactions globally. It is designed to facilitate cross-border payments by using XRP, a cryptocurrency, as a bridge currency between different fiat currencies. XRP advantage isRead More →
New FED Payment System The FEDNOW payment system is a new instant payment infrastructure developed by the Federal Reserve that allows financial institutions of every size across the U.S. to provide safe and efficient instant payment services. Live system It went live on July 20, 2023 and enables individuals and businesses to send andRead More →
UK Election betting scandal mars politicians and the police! Just when you think the state of UK politics couldn’t get any worse… it does! The ‘clicky’ inner circles of both the Conservative and of the Labour Party with their mucky little antics – placing bets on the date of theRead More →
On Friday 28th June 2024, the Japanese yen dropped to its lowest point in 38 years, surpassing the 161 threshold against the dollar reached for the first time since December 1986. The yen has faced challenges, slipping beyond the 160 mark again. Since the Bank of Japan concluded its negativeRead More →
Take cover! UK election engulfed in yet another politically charged fallout from scandalous greed driven morally bankrupt politicians, and police. All connected to the inner workings of a failed government bereft of any sense of moral duty. The opposition Party are implicated too! Why? Is this really the best weRead More →
Bank of England offers no election help to Rishi Sunak as the UK interest rate is held at 5.25%. Not that they should. But the UK inflation is on target now at 2% so that’s some consolation. The PM claimed credit as the inflation target was met – happily informingRead More →
The International Monetary Fund (IMF) advises that the Bank of England should contemplate reducing its interest rates to 3.5% by the end of 2025. This suggestion is made as the UK’s economy steadily recovers from the recession caused by the pandemic, while policymakers are dealing with inflationary challenges. The ‘thinking’Read More →
Wet weather was to blame for the U.K. retail sales volumes drop of 2.3% in April 2024. Shoppers were deterred from the high street, the Office for National Statistics (ONS) said Friday 24th May 2024. Economists expected a smaller retail sales fall of 0.4%. Sales volumes declined across multiple sectors,Read More →
The April inflation came in higher than anticipated, falling to 2.3%, as reported by the Office for National Statistics on Wednesday 22nd May 2024. Traders have now reduced their expectations of a June interest rate cut by the Bank of England (BoE). Markets reacted negatively in early trading. The headlineRead More →
Investing in individual stocks can be both thrilling and profitable, yet it carries inherent risks. To make informed decisions, it’s important to adhere to some fundamental steps. Define Your Goals Before diving into stock picking, consider your investment goals Invest for the longer-term, it works! KIS – Keep It Simple!Read More →
UK chip designer Arm’s shares fell on Thursday 9th May 2024, subdued by revenue forecasts despite a strong sales quarter fueled by demand for AI applications. Arm announced a 47% increase in fiscal Q4 revenue to $928 million on Wednesday. This surge was propelled by its licensing business, which sawRead More →
Mortgage rates are still going up due to expectations that the Bank of England might not cut borrowing costs as much as expected. Higher-than-expected inflation figures at this point, have led to increased forecasts for UK interest rates, prompting lenders to raise the cost of new mortgage deals. Those considering purchasingRead More →
The Home Office eventually resolved a nationwide ‘issue’ that led to significant delays at passport e-gates. UK airports such as Heathrow, Gatwick, Edinburgh, Birmingham, Bristol, Newcastle, and Manchester have all reported delays in arrivals late on Tuesday 7th May 2024 due to a Border Force issue. E-gates, which are automatedRead More →
The FTSE 100 soared past 8300, reaching a new record high amid busy trading as London markets reopened after the bank holiday. A catch-up trading session is evident, with mainland-listed stocks having a robust session on Monday 7th May 2024 and continuing to rise. The FTSE reached around 8335 inRead More →
The breach involved a third-party payroll system used by the MoD The compromised system contained names and bank details of both current and past members of the UK armed forces. While the full extent and consequences of the breach are still under investigation, preliminary results reportedly indicate that no data was extracted during the incident.Read More →
Forecasts indicate that the UK economy will experience sluggish growth among the largest developed nations in 2025. The Organisation for Economic Co-operation and Development (OECD) has projected a 1% increase in the UK’s gross domestic product (GDP) for 2025, which lags behind the growth rates of other G7 nations, includingRead More →
The Fed have deliberated over ‘transitory’ inflation – (they got that wrong). They have teased us about when rates will be cut (still waiting). And now we are told no rate cut but: ‘the next rate move is unlikely to be up!’ Probably better to say and do nothing atRead More →
House prices declined in April 2024, with affordability pressures persisting for potential buyers, as reported by Nationwide. The UK’s largest building society reported a 0.4% decrease in house prices compared to the previous month. The average cost of a home now stands at £261,962, which is 4% lower than inRead More →
