Britain to lay out financial reforms to 'turbocharge' growth

Newsletter Dec 9, 2022 [ International Business Times]( [Britain to lay out financial reforms to 'turbocharge' growth]( Britain will set out reforms on Friday to ease bank capital rules, one of 30 measures the government says will unlock investment and secure its position as the world's "foremost financial centre". [UK turns to army as crippling strikes loom]( The Ministry of Defence is also in talks with the National Health Service, Downing Street said, after ambulance drivers voted to join nurses in striking this month. [Learn more about Jeeng]( [King Charles coins enter UK circulation]( The first coins bearing the likeness of Britain's King Charles III entered circulation Thursday, The Royal Mint announced. [Cash use slips to just 15% of British purchases in 2021]( British shoppers used cash in only 15% of transactions in 2021, half the level of the year before and down from nearly 40% before the COVID-19 pandemic, retailers said on Friday. [Bank of England to add 50 bps to Bank Rate on Dec. 15; peak at 4.25% in Q2: Reuters Poll]( The Bank of England will add another 50 basis points to Bank Rate next week and take borrowing costs to 3.50%, despite the economy falling into recession, as it battles inflation running at more than five times its target, a Reuters poll found. [Oil prices bounced on Friday as closure of a major Canada-to-U.S.]( Oil prices are set to post their biggest weekly drop in months, since traders expect it will be months before the benefits of China easing COVID controls feeds through to demand. [Dollar slips on recession fears, central bank meetings loom]( The dollar eased on Friday as worries over a slowdown in the United States mounted, with traders on guard ahead of a slew of central bank meetings next week, where the Federal Reserve takes centre stage. [European shares fall for fifth day as telecom, real estate drag]( European shares fell for the fifth straight session on Thursday, bogged down by weakness in telecom and real estate sectors amid growing fears of an impending recession. [EU markets watchdog raps national regulators over Brexit hubs]( Regulators in Ireland, Luxembourg and the Netherlands allowed investment funds shifting operations from London to the European Union after Brexit to operate with too few senior staff in their new locations, the EU's securities watchdog said on Thursday. [Google must remove 'manifestly inaccurate' data, EU top court says]( Alphabet unit Google must remove data from online search results if users can prove it is inaccurate, Europe's top court said on Thursday. [Barclays promotes mostly men to investment bank managing director]( Barclays has promoted 85 people to managing director (MD) in its investment bank, it said on Thursday, with by far the majority of the coveted titles this year being taken by men. [EU welcomes Croatia into Schengen, blocks Bulgaria, Romania]( Europe overall has taken a harder stance against migration after a massive inflow of asylum-seekers in 2015-2016. [US sues to block Microsoft's blockbuster buyout of gaming giant Activision]( Britain has also announced an "in-depth investigation" into Microsoft's planned takeover of Activision. [Malaria deaths dip in 2021 after rising in first year of COVID, says WHO]( Malaria-related deaths fell slightly in 2021 after a significant increase in the first year of COVID-19, but remained higher than the pre-pandemic estimated toll, according to a World Health Organization (WHO) report on Thursday. [Harry and Meghan decry 'pain and suffering' of women brought into UK royal family]( Prince Harry said the British royal family had dismissed race-related hounding of his wife Meghan by the press as a rite of passage as the couple delivered a fierce attack on the media in their Netflix documentary series released on Thursday. You Might Like [Learn more about Jeeng]( [IBTimes]( IBTimes will always protect your security and privacy. Please read our detailed [Privacy Policy.]( Please do not reply to this email. [Click here]( to adjust your notification preferences or unsubscribe. © Copyright 2022 IBTimes LLC. All Rights Reserved. IBTimes LLC, 33 Whitehall ST FL 7, New York, NY 10004 U.S.A, New York, New York 10004, United States You may [unsubscribe]( or [change your contact details]( at any time.