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Jobs at risk after UBS takeover of Credit Suisse, as markets grow calmer – business live

TheGuardian

UBS’s rescue of Credit Suisse is expected to result in tens of thousands of job cuts UK government borrowing rose last month to the highest February deficit on record, largely because of spending on support schemes to help households and businesses with spiralling energy bills. Continue reading.

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Banks to address mobile connectivity issues

Bobsguide

Recent data from the Office of National Statistics (ONS) revealed that the UK is currently in the midst of a productivity crisis, with the country’s output per worker 16.6 percent below the average for the rest of the G7 nations in 2016. While the financial services sector was one of only a.

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How the City became the UK’s powerhouse

TheGuardian

From the ‘big bang’ to Brexit, the financial sector has survived change and crisis to establish itself as a key force in Britain’s economy As the UK unwittingly approached the 2007 global banking crisis, London’s financial sector – known simply as the City, or the Square Mile – was reaching the height of its powers. Continue reading.

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CPI-weighted wage growth

BankUnderground

By contrast, wages in a firm which produces something for household consumption in the UK, like restaurant meals, are very relevant for CPI. How to match wage data to the CPI Most wage data, including the Average Weekly Earnings (AWE) published by the Office for National Statistics (ONS), is weighted by employment.

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The Covid-19 bill means the Treasury must live with high borrowing

TheGuardian

Related: UK government borrowing hits record high in April and retail sales slump - business live The deficit is the shortfall between government income and spending as measured each month by the Office for National Statistics. The government has borrowed more in April than expected for the whole year.

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UK To Spend Close To £2 Billion To Fight Cyberattacks

PYMNTS

Two years ago, the UK suffered from 2.5 The Office for National Statistics (ONS) issued statistics on hacking and cybercrime for the first time in its crime survey and said the most common form of cybercrime is malware attacks. According to a report , research suggests the U.K. million cases of cybercrime.

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Why lower house prices could lead to higher mortgage rates

BankUnderground

Fergus Cumming and Danny Walker Bank Rate has risen by more than 5 percentage points in the UK over the past couple of years. The relevant swap rates for the 80% of UK mortgages that have fixed interest rates are typically the two and five-year rates. This has led to much higher mortgage rates for many people.