Hints and tips:
...Those with savings and wealth have more cushion to deal with inflation but will still feel worse off because of low compensation on their savings accounts and weak returns on their investments....
...Big banks such as JPMorgan Chase, Citigroup and Wells Fargo braced for turbulence by collectively increasing their loan loss reserves by more than $1bn last quarter....
...The approximately 2 per cent peak-to-trough fall in GDP seen back then isn’t so dissimilar from our forecasts for the 2023 downturn....
...HM Revenue & Customs has long had access to information from bank accounts, pension savings, and overseas tax offices....
...Consumers benefit from record-high net worth, booming labour markets and a huge pile of excess savings. Businesses are posting a record number of job vacancies and solid investment intentions....
...Compound your savings at the 0.1 per cent rate set by the Bank of England, and it will double in a disappointing 694 years. The obvious answer is to buy a holiday let....
...What prompted their visit was a shortfall in the branch’s computerised accounts which, over a month, had swelled into a £30,000 black hole....
...The best lack all conviction, while the worst are full of passionate intensity, and you’ll be hearing from them both over the next 5,000 or thereabouts words....
...While in the UK some of the biggest names in engineering are pressing ahead with plans to build at least 30,000 ventilators....
...If macro and strategy bumf is not your thing please scroll through the next 2,000 or so words, where for convenience the break from macro to micro is marked (as is tradition) with a cat....
...● In brief: Adidas raised to “outperform” at Wells Fargo; Elekta cut to “underweight” at JPMorgan; Neste Oil rated new “buy” at Deutsche Bank; Nexity raised to “buy” at Kepler Cheuvreux; Plastic Omnium...
...Well (whisper it), it’s not actually that tortuous for sole traders. You don’t need to have a limited company or a business bank account to file your own tax returns through self-assessment....
...Now they go to China as well. After a recent visit to the country, Royal Bank of Canada chief executive Dave McKay launched an overhaul of consumer operations at Canada’s biggest lender....
...While this is not a precise number, it serves to make a point. Average annual salaries are, gross, £27,000....
...Marcus now has about half a million clients across its various loans and savings products and is eyeing moves into other areas including credit lines, credit cards, wealth management and retirement accounts...
...“We are leveraging this development to win more clients and have acquired approximately 351,000 net new customers in Germany this year (to the end of May)”....
...The economic calendar is light (all times London): 08.00: Spain industrial output 09.30: UK consumer price index 11.00: Ireland property prices...
...Further savings will come from rationalising the property portfolio....
...Ahead of its capital markets day, it has reported a step-up in new account bookings at its credit card issuer Vanquis Bank....
...If you don’t want to do this, Sim-only deals from companies such as GiffGaff start from £5 a month. These can be rolling 30-day deals or annual ones....
...Some 139,000 current accounts were opened by customers during the latest period, compared to 115,000 a year ago....
...While costs will increase in the near term, this is with the aim of driving growth in the number of parcels delivered from 500,000 in the year to August 2016 to 3m in 2017 and 10m within three years....
...Scoular’s lawyers told the FBI that Wells Fargo said Dadi — the name on the account in Shanghai where Mr McMurtry sent the money — manufactured army boots....
...But for everything I am doing I have just one [bank] account. Not a second one....
...It raised $20m in its latest round of funding, where investors included Wells Fargo & Co and Mexican businessman Carlos Slim. 21....
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