Britain sets out legislation to regulate buy-now-pay-later credit

Newsletter Feb 14, 2023 [ International Business Times]( [Britain sets out legislation to regulate buy-now-pay-later credit]( Britain on Tuesday will set out draft legislation to regulate "buy now pay later" credit, saying the sector posed potential harm to consumers without thorough affordability checks. [Bank of England to lift bank rate 25 basis points to 4.25% in March, then pause: Reuters poll]( The Bank of England will make its final increase to borrowing costs in the current cycle next month to combat double-digit inflation, according to a Reuters poll which showed the British economy is almost certainly entering a recession.  [Learn more about Jeeng]( [Analysis-The deep freeze over UK assets is thawing]( Britain's stocks and bonds are drawing strong buying interest, not quite a vote of confidence in the economy but a reassuring sign for policymakers that a deep investment freeze in British markets prompted by last year's upheaval has thawed. [Oil prices fell in early Asian trade on Tuesday after the U.S.]( Brent crude futures fell by 82 cents, or 1%, to $85.79 per barrel by 0132 GMT, while U.S. crude futures fell by $1.04, or 1.3%, to $79.10 per barrel. [European shares rise as defence stocks rally]( European shares rose on Monday as defence stocks jumped on news of India aiming to triple its defence exports, while a fall in real estate stocks on disappointing quarterly results from Sweden's Castellum countered gains. [dianomi]( [European equities rise on hopes of inflation slowdown]( European stock markets rose Monday as investors set aside Asian losses and forecast easing inflation in Britain and the United States, dealers said. [Countries warn EU against 'crisis mode' overhaul of energy market]( Denmark, Germany, the Netherlands, Estonia, Finland, Luxembourg and Latvia have warned Brussels not to rush into major changes to the European Union's electricity market in response to the energy crisis, calling instead for limited tweaks to the system. [Gold miners may see margins shine as energy, labor costs edge lower]( Gold miners are set to report healthier margins for the fourth quarter as higher energy and labor costs, which dented bottom-lines for much of 2022, are expected to ease. [Binance stablecoin backer ordered to stop issuing token]( New York's chief financial regulator has ordered Paxos, the company behind the stablecoin of major crypto exchange Binance, to stop issuing the token, Paxos and the regulator said in separate statements on Monday. [EU lifts growth forecast as eurozone skirts recession]( Europe's economy will grow more than previously forecast this year as it avoids a winter recession, with inflation expected to ease as gas prices have fallen, the European Commission said Monday. [Europe's spend on energy crisis nears 800 billion euros]( European countries' bill to shield households and companies from soaring energy costs has climbed to nearly 800 billion euros, researchers said on Monday, urging countries to be more targeted in their spending to tackle the energy crisis. [New Russian offensive underway in Ukraine, says NATO]( The eastern Ukrainian city of Bakhmut was facing heavy artillery fire as the NATO chief backed reports from local officials that a major new Russian offensive had begun, days before the first anniversary of Moscow's invasion. [British Embassy guard who spied for Russia filmed "secret" letter to PM, London court told]( A security guard at the British embassy in Berlin collected highly sensitive information for more than three years, including "secret" government communications with Prime Minister Boris Johnson, prosecutors told a London court on Monday. [Afghan journalists win case against UK Government over relocation]( Eight Afghan journalists who worked for the BBC broadcaster won a legal challenge on Monday against Britain's refusal to relocate them from Afghanistan, which they said put them at high risk of being killed by the Taliban rulers. [Love in a time of inflation: How much will Valentine's Day set you back?]( This Valentine's Day is set to look different after a year of record food inflation that has sent up prices of everything from flowers to chocolates and dining in restaurants. 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 2023 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.