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THE  BANK  OF  ENGLAND  BASE  RATE  IS  CURRENTLY  SET  AT  0.50  %

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Banking Bill 2007-08 - 19th Oct 2008


In the wake of current financial problems that included Bradford and Bingley, Icesave, Landsbanki, Kaupthing Edge and Heritable Bank collapsing. The new banking bill is going through the parliament and when enacted, it will give the regulators and the treasury wide ranging powers to deal with the failing banks and reform the Financial Services Compensation Scheme (FSCS).



Google to allow gambling adverts from today - 17th Oct 2008


World’s most popular search engine has announced that from today, it will allow the advertisement from gambling companies on its pages in England, Wales and Scotland.



Shareholders revolt on the British rescue deal - 16th Oct 2008


Two days after the deal was struck between the Treasury and HBOS, Lloyds TSB and RBS, it emerged that the shareholders in these banks are not happy with the condition that no dividend would be paid until the taxpayers money is paid back.



Is falling petrol price a silver lining ? - 16th Oct 2008


Supermarkets reduced their fuel prices and the fuel giant BP has joined the “price war” by dropping the average price of unleaded petrol by 05 pence per litter. Only ASDA, Morrisons, and BP have announced price reductions whilst other suppliers are “studying” the market. This is being reported as good news for the motorists despite prices reduction not being proportionate to international oil price drop.



Personal data loss at Railways pensions scheme - 15th Oct 2008


Railways pensions scheme is writing to its members, informing them about a “significant” amount of data loss that was stored on a stolen laptop.



Nationwide tightens lending criteria and changes fees - 14th Oct 2008


Whilst the government is asking the lenders to keep their lending levels same as at 2007, Nationwide Building Society announced today that it was reducing its income multiple and increasing valuation fees.




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