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Building society’s account deadline axed

Building society’s account deadline axed

Image copyright YBS A deadline for the closure of current accounts with the Norwich and Peterborough (N&P) has been cancelled, with 30% of customers still to receive letters explaining the move. It was announced in January that the building society’s brand is to be abolished, some branches closed, and current accounts shut down. The plan […]

Building society’s account deadline axed

Building society’s account deadline axed

Image copyright YBS A deadline for the closure of current accounts with the Norwich and Peterborough (N&P) has been cancelled, with 30% of customers still to receive letters explaining the move. It was announced in January that the building society’s brand is to be abolished, some branches closed, and current accounts shut down. The plan […]

Building society’s account deadline axed

Building society’s account deadline axed

Image copyright YBS A deadline for the closure of current accounts with the Norwich and Peterborough (N&P) has been cancelled, with 30% of customers still to receive letters explaining the move. It was announced in January that the building society’s brand is to be abolished, some branches closed, and current accounts shut down. The plan […]

Tesco is raising store staff pay by 10.5% over two years

Tesco is raising store staff pay by 10.5% over two years

Image copyright Getty Images Hourly pay rates for Tesco store staff will rise by 10.5% over the next two years, the supermarket has said. But pay remains lower than at Aldi and Lidl and overtime pay on Sundays and Bank Holidays is being cut. Currently Tesco workers are paid £7.62 an hour, which will rise […]

Watchdog clamps down on online gambling

Watchdog clamps down on online gambling

Image copyright Getty Images The competition regulator is to take action against some online gambling companies which it suspects of breaking consumer law. The Competition and Markets Authority (CMA) said some punters did not get the deal they expected from sign-up promotions offering cash bonuses to attract them to gaming websites. The CMA also said […]

Troubled Toshiba flags deeper losses

Troubled Toshiba flags deeper losses

Image copyright Getty Images Ailing electronics giant Toshiba has said its losses for 2016 may be greater than it had previously forecast. It now predicts a net loss of 995bn yen (£7bn) for the year to March, up from its earlier estimate of 950bn yen. The firm was demoted to the second tier of the […]

Hinkley Point deal ‘risky and expensive’

Hinkley Point deal ‘risky and expensive’

Image copyright PA Image caption Artist’s impression of Hinkley Point C building proposals UK government plans for a new £18bn nuclear power station have come under fire from public auditors, who call it “a risky and expensive project”. The National Audit Office (NAO) said the costs and risks for consumers had not been sufficiently considered. […]

ECB bids for more euro clearing oversight

ECB bids for more euro clearing oversight

Image copyright Getty Images Image caption London is the world leader for clearing all types of currency-denominated derivatives The European Central Bank has put forward a proposal to boost its oversight over euro clearing. The legal amendment would give it a “significantly enhanced” role in regulating the lucrative market. London currently processes most of the […]

Hinkley Point deal ‘risky and expensive’

Hinkley Point deal ‘risky and expensive’

Image copyright PA Image caption Artist’s impression of Hinkley Point C building proposals UK government plans for a new £18bn nuclear power station have come under fire from public auditors, who call it “a risky and expensive project”. The case for the Hinkley Point C plant in Somerset was “marginal” and the deal was “not […]

Fed: US banks have money for crisis

Fed: US banks have money for crisis

Image copyright ANDREW CABALLERO-REYNOLDS/AFP/Getty The 34 largest banks in the US have money on hand to withstand a severe recession, the US central bank said on Thursday. The finding comes from an annual “stress test” conducted by the Federal Reserve. The tests were put in place after the financial crisis to strengthen financial capacity in […]