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NEWS - ACCOUNTANCY & FINANCE

Bank of England governor Mark Carney warns of early interest rate rise

Bank of England governor Mark Carney warns of early interest rate rise

Bank of England governor Mark Carney suggested last week that interest rates might rise earlier than expected.

12 June’s Mansion House event was not exactly full of surprises, with much of the content of UK Chancellor George Osborne’s speech published beforehand laying out new laws for the finance sector.

But one statement from Bank of England governor Mark Carney did raise a few eyebrows, after he warned that interest rates may rise earlier than most analysts expect.

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UK chancellor George Osborne announces tougher finance rules

June 13 ,2014 | by Hari Sri

UK chancellor George Osborne announces tougher finance rules

George Osborne, the UK’s Chancellor of the Exchequer and Second Lord of the Treasury, is set to announce a new set of measures to clamp down on bad behaviour in the finance sector.

The UK’s financial sector has suffered from a flurry of scandals in recent years, which have often left the public unaware of the amount of good practice that still goes on. In a bid to prevent problems such as the Libor-fixing fiasco from cropping up in future, George Osborne is due to announce a new set of measures to stamp out malpractice in the industry.

One of the most significant changes will be an extension of the new legislation that was put in place to regulate Libor rates.

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Barclays develops contactless payment wristbands

June 10 ,2014 | by Hari Sri

Barclays develops contactless payment wristbands

Barclays says it will roll out wristbands that can be used for contactless payments in the next few months.

It is no secret that wearable technology is one of the key research areas for many tech companies. From Google Glass to patents suggesting that Samsung is still working on a smartwatch design, businesses are seeking ways to make technology more personal than ever.

Now, Barclays has announced that it is planning to extend the use of wearable tech into payment processes.

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Economic boom in sight as global shares hit all-time highs

Economic boom in sight as global shares hit all-time highs

Recovering economies and low interest rates have pushed world shares to their highest ever levels.

World shares were close to their highest levels ever yesterday, 9 June, as low interest rates in key economies and moves towards economic recovery buoyed investor confidence.

report from Reuters shows that MSCI’s 45-country All-World share index, an important benchmark for the performance of shares around the world, edged up 0.15 per cent to stand at 427.11 points. That was not far away from 428.63, the previous peak figure achieved before the financial crisis in 2007.

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European Central Bank imposes negative interest rates

European Central Bank imposes negative interest rates

Low inflation and a strong euro have driven the European Central Bank to impose negative interest rates.

The European Central Bank (ECB) took the dramatic step on imposing negative interest rates on 5 June.

Instead of paying out extra to banks that deposit money at the ECB, calculated according to the base rate, institutions will now actually have to pay financial penalties relative to the size of their deposit. Given the sizes of the sums involved, it is likely the move could prove very expensive for some banks.

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Lloyds Bank confirms TSB IPO float on London Stock Exchange

May 28 ,2014 | by Hari Sri

Lloyds Bank confirms TSB IPO float on London Stock Exchange

Lloyds Banking Group has confirmed that it will be selling off a 25 per cent stake in TSB next month.

The London Stock Exchange has seen a flurry of flotations recently, but the latest company to have announced its intention to list is set to be one of the most closely watched this year.

To comply with the divestment that was mandated by the European Union, Lloyds Banking Group has confirmed that it is planning to sell the first round of shares in TSB next month.

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New watchdog will monitor banking standards in the UK

New watchdog will monitor banking standards in the UK

A new body – Banking Standards Review Council (BSRC) – will monitor standards in the UK banking industry, it has been announced after Sir Richard Lambert’s report.

The past few years have been difficult to say the least for the banking industry. With the Libor-fixing scandal, mis-selling of payment protection insurance (PPI) on loans, million-pound bonuses and the headlines that came out of the credit crunch, public trust in banks has slumped and it is agreed by the majority that something has to change.

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EU plans high-frequency trading crackdown

April 16 ,2014 | by Sarah Parkin

EU plans high-frequency trading crackdown

New restrictions on high-frequency trading are planned in the European Union (EU), but analysts are divided on the proposals.

High-frequency trading is about to become subject to tough new rules within the EU. Policymakers are preparing to pass new legislation that will place some of the world’s strictest regulations on the practice, which uses computers and complex algorithms to monitor different markets at the same time and place multiple orders at once.

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Should you start saving for retirement now? Study says “Yes”

April 10 ,2014 | by Hari Sri

Should you start saving for retirement now? Study says “Yes”

A recent study has found that saving during your twenties alone can lead to a bigger pension pot than 40 years of contributions in later life. So when should you really start saving?

Saving for retirement during your twenties can earn you a better pension than 40 years of saving from ages of 30 to 70, according to a new study from research firm CLSA.

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Why Does The Co-Operative Bank Need Another £400m?

March 24 ,2014 | by Sarah Parkin

Why Does The Co-Operative Bank Need Another £400m?

The Co-operative Bank completed a £1.5 billion recapitalisation three months ago. So why is it trying to raise another £400 million?

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Alibaba IPO Aims To Raise $15 billion

March 19 ,2014 | by Sarah Parkin

Alibaba IPO Aims To Raise $15 billion

In a bid to internationalise itself, China’s biggest e-commerce firm Alibaba Group is planning to float in the US stock markets and raise $15 billion from sales of shares. Will the IPO help Alibaba become more global?

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Candy Crush Developer Is Worth $7.6 billion!

March 19 ,2014 | by Sarah Parkin

Candy Crush Developer Is Worth $7.6 billion!

The game development company behind Candy Crush, King, is set to float an initial public offering (IPO) later this month. And King might be worth an eye-watering $7.6 billion!

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Osborne’s Budget Boost To Savers and Pensioners

March 19 ,2014 | by Sarah Parkin

Osborne’s Budget Boost To Savers and Pensioners

UK chancellor George Osborne has taken to the dispatch box to present a crowd-pleasing, what was in effect the last, Budget of this parliament by claiming it was for ‘the makers, the doers and the savers’.

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Libor Scandal: Sixteen Banks Sued By US Regulator

March 18 ,2014 | by Thiago Kiwi

Libor Scandal: Sixteen Banks Sued By US Regulator

Sixteen banks, including Barclays, are being sued by a regulatory body in the US that alleges they were involved in fixing the Libor interest rate.

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5 Years of Low Interest Rates: Who Wins?

March 05 ,2014 | by Hari Sri

5 Years of Low Interest Rates: Who Wins?

Five years ago to this day, the Bank of England cut interest rates to a record low – and they haven’t moved since. We look at the flip side of low interest mortgages and consumers having more to spend …

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The Other Side: How Higher Interest Rates Could Be A Good Thing

February 04 ,2014 | by Thiago Kiwi

The Other Side: How Higher Interest Rates Could Be A Good Thing

Last week, LSBF experts applauded Bank of England Governor Mark Carney’s announcement that, despite positive economic figures, there is no need to increase interest rates yet. Today, we present counter-arguments from disagreeing LSBF experts …

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Expert View: Should UK Interest Rates Remain Low?

January 27 ,2014 | by Thiago Kiwi

Expert View: Should UK Interest Rates Remain Low?

Last week, Bank of England Governor Mark Carney announced that there is no immediate need to increase interest rates despite rise on employment figure. LSBF’s experts share their views on the topic …

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ACCA F8 Substantive Testing – Part 2

December 11 ,2013 | by LSBF Blog Staff

ACCA F8 Substantive Testing – Part 2

In the final instalment of this two-part article aimed at students of the ACCA F8 paper, Paul Merison explains how to use the information provided in the previous article to conceive tests …

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ACCA F8 Substantive Testing – Part 1

December 10 ,2013 | by LSBF Blog Staff

ACCA F8 Substantive Testing – Part 1

In this first part of a two-part article aimed at students of the ACCA F8 paper, Paul Merison illustrates the differences between control tests and substantive tests and explains how audit tests are aimed at testing the assertions in the financial statements …

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What is Asset Recovery? – Part 2

December 06 ,2013 | by LSBF Blog Staff

What is Asset Recovery? – Part 2

‘Asset Recovery’ is a multi-faceted term that could entail many a meaning. In the last of this two-part series on this subject, Jonathan Price explains what ‘Asset Recovery’ is by taking a closer look at the Costa Concordia case …http://blog.lsbf.org.uk/wp-includes/js/tinymce/plugins/wordpress/img/trans.gif

 

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What is Asset Recovery? – Part 1

December 05 ,2013 | by LSBF Blog Staff

What is Asset Recovery? – Part 1

Asset Recovery’ is a multi-faceted term that could entail many a meaning. In the first of this two-part series on this subject, Jonathan Price explains what ‘Asset Recovery’ is with the example of the Lehman Brothers bankruptcy case …

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