Financial news

• Cash flow: UK village ravaged by unemployment uses tidal energy to mine cryptocurrency

  02-09-2019 23:18 via feedproxy.google.com
  A BRITISH seaside village crippled by unemployment is mining cryptocurrency using the power of the English Channel. Residents of Jaywick, near Clacton in Essex, are using tidal energy to power small cryptomining devices that float in the water.
  
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• Pound US dollar exchange rate: mounting speculation for snap UK election sees GBP/USD sink

  02-09-2019 19:41 via feedproxy.google.com
  The pound US dollar exchange rate fell to $1.208 this afternoon amid snap general election speculation. This follows Prime Minister Boris Johnson’s announcement he will be the chairman of an emergency cabinet meeting later today. The GBP/USD pairing fell today as Brexit fears continue to haunt UK markets.
  
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• HSBC's £35bn mortgage push is good for borrowers, but it's risky

  02-09-2019 13:30
  Buyers should grab deals while they can – but the bank could lose out in a precarious UK marketHSBC has been the bank that has prospered most from globalisation. Hong Kong has been its gateway to an emerging China, its UK domicile has provided regulatory and legal respectability, and its US operations have enabled it to become one of the biggest US dollar clearing banks in the world. But has globalisation now stopped working in the bank’s favour?Hong Kong – where the bank makes
  
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• HSBC to lend an extra £35bn to homebuyers

  02-09-2019 13:07
  Battle between lenders intensifies as bank seeks bigger share of mortgage market
  •HSBC’s £35bn mortgage push is good for borrowers, but it’s riskyHSBC is to lend an extra £35bn to homeowners, further intensifying the battle among mortgage lenders to offer ultra-competitive deals to customers.The bank, which began its drive to become a major force in the British mortgage market in 2014 and currently has about £100bn in loans on its books, is aiming to expand fro
  
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• A friend lent me a mortgage deposit – how much do I owe him now?

  02-09-2019 09:48
  He gave me £10,000 towards the £250,000 property in 2006, but it’s now worth £450,000Q In 2006 I bought a house for £250,000 with an interest-only mortgage. I have made occasional overpayments so the outstanding loan is £200,000 (still interest-only). The value of the house is now £450,000. A friend paid the cash deposit of £10,000 as an investment when I bought the house. He has lived in the house since then and has been paying me £330 a mon
  
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• Millennials most likely to fall prey to bank fraud, Lloyds reveals

  02-09-2019 01:01
  New figures also show over-55s lose the most money per scam on averageMillennials are falling victim to scams involving handing money to fraudsters more than any other age group, according to Lloyds Bank.New data shows that victims aged 18 to 34 are losing an average of £2,630 to frauds, which typically involve scammers impersonating banking staff, the police or HM Revenue and Customs. Continue reading...
  
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• House prices could nosedive after no-deal Brexit, says KPMG

  02-09-2019 01:01
  Analysis by accountancy firm suggests nationwide decline of about 6% in 2020UK house prices could crash by as much as a fifth if Boris Johnson pursues a no-deal Brexit, and the biggest falls would be in London and Northern Ireland, a leading accountancy firm has said.Reflecting the potentially vulnerable state of the property market as Brexit looms, KPMG said house prices would fall by between 5.4% and 7.5% across different regions next year if a new agreement with Brussels was not in place by 3
  
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