FCA investigates collapsed lender MFS amid £1.3bn mortgage scandal

Move follows the granting of a worldwide asset-freezing order on company’s founder, Paresh Raja

The Guardian
PwC partners who fail to embrace AI have no future at firm, US CEO warns

Paul Griggs says senior staff at consulting firm who are not ‘paranoid about being AI-first’ are likely to be replaced

The Guardian
President Lee Jae-myung declares tax measures for real estate market stabilization should be last resort, comparing them to nuclear weapons while emphasizing financial sector controls and supply policies as primary tools to curb property speculation driven by leveraged investments.
#YonhapInfomax #PresidentLeeJaemyung #TaxReform #RealEstateMarket #HousingPrices #FinancialSector #Economics #FinancialMarkets #Banking #Securities #Bonds #StockMarket
https://en.infomaxai.com/news/articleView.html?idxno=110315
President Lee - 'Taxes Are Like Nuclear Weapons, Should Not Be Used Recklessly... Last Resort'

President Lee Jae-myung declares tax measures for real estate market stabilization should be last resort, comparing them to nuclear weapons while emphasizing financial sector controls and supply policies as primary tools to curb property speculation driven by leveraged investments.

Yonhap Infomax
European takeover battle hots up with UniCredit’s ‘unfriendly attack’ on Commerzbank

Milan-based bank plans to up its near-30% stake in German lender to trigger formal talks despite strong opposition from Berlin

The Guardian
How will war in the Middle East affect your finances?

Surging energy prices and tumbling stock markets are threatening a new UK cost of living crisis

The Guardian
British fintech Revolut gets full banking licence

Group lodged application in 2021 but had to overcome accounting issues and reputational concerns

The Guardian
Average UK mortgage rate tops 5% as lenders scurry to reprice loans amid Middle East crisis

More than 500 lending products pulled in biggest single upheaval since Liz Truss’s mini-budget in 2022

The Guardian
Financier Crispin Odey takes FCA to court over exclusion from City

Regulator fined the multimillionaire £1.8m and banned him from the financial services industry last year

The Guardian
UK recruiter emerges from insolvency for third time, avoiding millions owed in tax

Hampshire business seems to have benefited from ‘phoenixism’, which costs the taxpayer about £800m a year

The Guardian
HSBC and Coventry raise rates on fixed mortgages in response to crisis in the Middle East

Experts say the Iran war could cause an energy price shock that pushes up UK inflation, in turn forcing up interest rates

The Guardian