The U.K. saw an impressive record of £16.7 billion ($21.1 billion) net budget surplus in January, as reported by the Office for National Statistics. This surplus in January is not uncommon, as it is typically driven by receipts from self-assessed annual income tax payments. In January, combined self-assessed income and capital gains tax receipts reached
Global Finance
Barclays recently reported a fourth-quarter net loss of £111 million, which was significantly lower than the expected net profit of £60.95 million, as predicted by analysts. Despite the challenging financial results, the British lender announced an extensive strategic overhaul to reverse declining profits. CEO C.S. Venkatakrishnan stated that the bank will implement a major restructuring
Recent data suggests that Americans who shop online after midnight are more likely to engage in risky transactions and default on loans. Affirm Chief Financial Officer Michael Linford pointed out that the timing of a consumer’s transaction can be a critical factor in determining credit risk. While most times of the day have similar credit
The U.K. economy has taken a hit, slipping into a technical recession in the final quarter of last year, according to initial figures released by the Office for National Statistics. Gross domestic product (GDP) for the country shrank by 0.3% in the final three months of the year, marking the second consecutive quarterly decline. While
TUI, the German travel giant, has made the decision to delist its shares from the London Stock Exchange’s FTSE 250 and list solely in Frankfurt’s MDAX. The vote by TUI’s investors was overwhelming, with 98.35% in favor of the move. The transfer is expected to take place on June 24. TUI currently has a dual
In a market that is experiencing a monster rally, the fear of missing out (FOMO) is becoming increasingly prevalent. Julian Emanuel, senior managing director at Evercore ISI, believes that Nvidia’s extraordinary performance is fueling this fear. He has noticed a shift in sentiment among his clients, many of whom experienced the dot-com boom and its
British financial technology company Revolut is shaking up the financial services industry once again by becoming the first firm in the UK to offer telecom plans. In a groundbreaking move, Revolut is set to provide phone plans to its customers, making it an innovator in the sector. This move signifies Revolut’s expansion beyond digital banking
Investors are always in search of lucrative investment opportunities, and there is one sector that has been consistently overlooked – oil stocks. Despite the abundant supply and impressive cash flow yields, oil stocks have been trading at a considerable discount. In this article, we will critically analyze the undervalued nature of these stocks and explore
Overdraft fees have long been a lucrative revenue stream for American retail banks, but recent regulatory pressure and changing consumer demands have significantly impacted this source of income. The three biggest American retail banks, JPMorgan Chase, Wells Fargo, and Bank of America, reported a combined 25% decrease in overdraft revenue in 2023 compared to the
China is taking significant steps to enhance the experience of foreign tourists and business people by encouraging banks and local businesses to accept foreign bank cards and making mobile payments more accessible. These efforts aim to improve convenience and promote financial inclusion for international visitors. Zhang Qingsong, the deputy governor of the People’s Bank of
Chinese stocks are expected to experience a significant increase of at least 10% in the coming days, according to Marko Papic, partner and chief strategist at Clocktower Group. The Chinese securities regulator has been making efforts to bolster investor confidence through various public statements, including state-backed purchases. A recent report from Bloomberg revealed that Chinese
Swiss banking giant UBS reported a net loss for the fourth quarter of the previous year but narrowly beat analysts’ expectations. Despite posting a loss for the second consecutive quarter due to integration costs related to fallen rival Credit Suisse, UBS plans to recommence share buybacks worth up to $1 billion in the second half