Help to Buy was introduced by David Cameron’s coalition government in 2013, with the aim of helping more people to get on the property ladder, instead 63 per cent of people using the Government’s Help to Buy scheme could have purchased their properties without it, and 19 per cent were not first time buyers. According…
Bitcoin Billionaires is a tale of Winklevoss twins and their outrageous venture into the chaotic world of cryptocurrency bitcoin exploring the techno-ideological experiments and financial manias. Ben Mezrich, the New York Times bestselling author of the Accidental Billionaires and Bringing Down the House comes his latest Bitcoin Billionaires. Harvard educated identical twins Cameron and Tyler…
Metro Bank plans to sell over £1bn worth of loans amid misreporting scandal that caused its share price to plummet and force it into a rights issue. At the start of the year, regulators discovered that Metro had misclassified the risk of hundreds of millions of pounds of commercial property and buy-to-let loans. Reclassifying the…
Tencent and Alibaba, China’s biggest technology groups have been granted milestone licences by the Hong Kong Monetary Authority to launch digital banks in Hong Kong threatening traditional HSBC and Standard Chartered banks. Xiaomi the world’s fourth largest smartpone maker and Ping An the world’s largest insurer, also was included in what city’s banking regulator’s called …
Silver has been the preferred shelter against government defaults, political instability and inflation for most people in the world because it is cheaper than gold. In 1979, prompted by the Iranian revolution, the silver price soared seven fold from $7 to $50 an ounce in less than 12 months – a great variance than the…
Nirav Modi’s barrister Clare Montgomery state in UK court, that ” he has a pet dog to prove his ties to UK , as Modi got a dog after his son, who studied in a London school, went to US. None of these actions are emblematic of someone setting out to flee the country”. Chief…
According to the minutes read to a jury yesterday at London’s Southwark Crown Court, part of a landmark fraud trial, Barclay’s board was told of interest from the Russian government in taking a stake, with a £500m emergency capital as the bank battered to avoid a UK tax-payer rescue at the height of the financial…
Indian Tycoon Vijay Mallya, who was behind the collapsed Kingfisher Airlines and also behind India’s largest alcoholic drinks empire, is to face charges of fraud and money laundering worth up to £1bn in India and Sajid Javid, the Home Secretary, has approved his extradition finally. He is alleged to have diverted funds from bank loans…
Malaysia has started in Hong Kong this week marketing and auctioning the $130m 300 feet yacht Equanimity, which features a helipad, gym, beach club. Sauna and beauty salon once owned by Jho Low, the financier alleged to be the architect of the 1 MDB scandal as part of their efforts to recover money. Lim Guann…
David Solomon, Goldman Sachs CEO has apologised to the “people of Malaysia” for the role one of his top bankers played in the multi-billion-dollar embezzlement scandal at the country’s national investment fund. Mr Solomon made it clear that Goldman had done nothing wrong in its dealing with 1MDB, which US and Malaysian authorities allege was…