Archives for Banking & Finance

£100 Million Development Bank of Wales Coronavirus Loan Scheme is already fully subscribed too …

The Covid-19 Wales Business Loan Scheme is fully subscribed after more than 1,500 applications were received in just over one week. The £100 million scheme was launched by the First Minister on Monday 30 March as part of the Welsh Government’s £500 million Economic Resilience Fund to support businesses in dealing with coronavirusoutbreak. The first loans were approved within three days of the fund launch, with the first loans reaching applicants by the end of last week. The Development Bank, which manages the scheme, will be ensuring approved funds reach businesses as quickly as possible so support can get to those businesses facing
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Positive Financial News from the FT – Positive Coronavirus News #PositiveCoronavirisNews

Some rare coronavirus good news: equities are cheap We may have passed peak uncertainty and there is definitely a reason to start buying again — carefully A Deliveroo rider during the lockdown in central London. The company is part-owned by Amazon which remains a good bet for equity investment © Simon Dawson/Bloomberg     March 27, 2020 3:56 pm by Merryn Somerset Webb The writer is editor-in-chief of MoneyWeek Everyone in the global financial market wants the same thing. They want to find a bit of data they can absolutely believe to be accurate and they want to use it to cut the
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Contactless card limit to rise to £45 from £30 next week after limits on cash shopping to help stop coronavirus

THE limit for in-store contactless payments is rising to £45, from £30, next week. This is to try and help people to limit physical contact to fight … Contactless card limit to rise to £45 from £30 next week after limits on cash shopping to help stop coronavirus
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More details on the Coronavirus Business Interruption Loan Scheme (CBILS)…

Further details have emerged for the Coronavirus Business Interruption Loan Scheme (CBILS) which is designed to assist qualifying businesses during these unprecedented times. The Scheme aims to support long-term viable businesses who may need to respond to cash-flow pressures by seeking additional finance.  The loan will be provided by the British Business Bank through participating providers during the Covid-19 outbreak. Full details of the CBILS scheme can be found here – but the main criteria are: Loan facilities of up to £5m 80% of the lenders risk is covered Repayment terms up to 6 years for term loans and asset finance, but
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Office for National Statistics Release The Shopping Basket Report for Measuring Inflation…

Reusable bottles and gluten-free cereals are in, as ONS updates the inflation basket… Commenting on this year’s basket of goods, ONS senior statistician Philip Gooding said: “This year we have added reusable bottles and mugs to the inflation basket, as there has been a rise in popularity with many consumers looking to decrease their environmental impacts. “It is important to remember that these annual changes are only a small percentage of the overall basket. This year we’ve added 16 items, removed 14 and modified 4, while leaving 702 unchanged. “Decisions on changes to the basket depend, among other issues, on
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European Business News / EuropeanBiz – Will European Banks be able to cope with this Global Pandemic – Interesting FT Article…

More than a decade on from the financial crisis, Europe’s banks are facing the first major test of their resilience. This week growing fears about the coronavirus pandemic and an oil price war prompted a widespread market sell-off. Companies have spent a decade gorging on cheap debt in an ultra-low interest rate environment. A wave of defaults is now likely, and rising loan impairments will hit banks’ already anaemic earnings. Since their recent peak almost a month ago, European banks indices have plunged 40 per cent in an indiscriminate sell off of financial stocks. This outpaces the 25 per cent
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The Lord Mayor of London calls on Welsh firms with international ambitions to join him on upcoming trade delegations

The Lord Mayor of London William Russell will today visit Cardiff, using the trip to call on Welsh firms with international ambitions to join him on upcoming trade delegations abroad to explore international business opportunities and expansion. As an ambassador for the UK’s financial and professional services industry, the Lord Mayor will meet the Secretary of State for Wales, the Welsh Government Minister for International Relations, the Welsh Fintech Envoy and leading business and fintech figures that are at the heart of the city’s success. During the visit the Lord Mayor will hear first-hand from those who have transformed and
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How Multibank Group evolved into one of the largest online financial derivatives -Global Financing & Banking…

Sophia Barnes, Director of Public Relations at one of the world’s leading forex and CFD brokers talks to Global Banking and Finance Review about their strong performance in 2019 and how their trading platforms differentiate them from others in the industr y. Since its inception, MultiBank has evolved into one of the largest online financial derivatives providers by combing prime liquidity, cutting edge technology and first-class customer ser vice. She also sheds some insight on how the company is ensuring the highest level of funds security and their future plans for development and growth. ” style=”box-sizing: border-box; margin: 0px; padding:
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