State of the Netherlands nationalises SNS REAAL
The Minister of Finance, in close consultation with De Nederlandsche Bank (DNB), has nationalised SNS Reaal. Savings deposits of clients are secure and the service provision of SNS REAAL has been safeguarded. The intervention has averted grave threats to financial stability and the economy. Source
Read MoreBank of England cuts rates as governor warns of inflation bump – video
The Bank of England cut interest rates to 4.5% as its governor, Andrew Bailey, warned of more inflation to come, with a bleak forecast for growth in the UK. Bailey signalled Threadneedle Street stood ready to cut borrowing costs further this year despite the short-term rise in inflation.
Read MoreGrowth of private markets requires continued focus on valuations
The FCA's review of private market valuation processes has found good practice but some room for improvement. Private markets have grown significantly in recent years with the UK continuing to be the largest centre for private market asset management in Europe.Private market assets don’t have the frequent trading
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Unambiguously bleak Bank of England forecasts pave way for spending cuts
Weak jobs market and above-target inflation will dent Reeves’s growth plans and may wipe out fiscal headroom Bank cuts interest rates to 4.5% and halves UK growth forecast Business live – latest updates With the public finances tight and Rachel Reeves having pledged to balance the books, interest
Read MoreFCA bans former Credit Suisse executives following US criminal convictions
The FCA has banned Andrew Pearse and Surjan Singh from the UK financial services industry. The former Credit Suisse managing directors have been banned for lacking integrity, following US convictions for arranging corrupt loans to the Republic of Mozambique.In July 2019, Mr Pearse pleaded guilty in the US
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Asset Land investors asked to get in touch
We have received limited funds to compensate investors in Asset Land companies. Investors should get in touch with us by 25 March 2025. We successfully took legal action againstAsset Land companies and their directors, David Banner-Eve and Stuart Cohen, following an investigation into unlawful activity in 2012. After
Read MoreBank of England cuts interest rates to 4.5% amid fears over weak UK growth
Third quarter-point cut in six months takes rate to lowest level since June 2023 amid concerns over economic outlook The Bank of England has cut interest rates for the third time in six months amid concerns over weak economic growth, underscoring the risks facing the chancellor, Rachel Reeves.
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Nissan-Honda $60bn merger ‘basically over’, reports claim; UK interest rate cut expected – business live
Rolling coverage of the latest economic and financial news Bank of England poised to cut interest rates amid UK economic gloom AstraZeneca has reported a jump in annual profits boosted by strong sales of its cancer, lung and immunology treatments, a week after it decided not to go
Read MoreOlumide Osunkoya sentenced to 4 years for illegally operating crypto ATM network
Olumide Osunkoya, 46, was sentenced on 28 February 2025 to 4 years in prison for illegal crypto activity worth over £2.5m and associated offences. Mr Osunkoya pleaded guilty on 30 September 2024 to 5 charges.Between 30 December 2021 and 12 March 2022, Mr Osunkoya operated crypto ATMs at
Read MoreFCA charges two individuals with multiple fraud charges
The FCA hasstartedcriminal proceedings againstKerry Nelsonand Jacqueline Stephensforalleged fraud,forgery, and money laundering. Kerry Nelson was director of both Nexus Independent Financial Advisers Limited (Nexus IFA) and Nexus Investment Managers Limited (Nexus IM). Jacqueline Stephens was business operations manager at the same firms.Ms Nelson and Ms Stephens have been
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