Current Account

Swiss Current Account Surplus Not Due to Mercantilism, SNB Says

The Swiss National Bank is not keeping the franc artificially low to give exporters an edge, President Thomas Jordan said, an indirect rebuff of the …

Business

April-Oct trade deficit soars 60% to $88 billion: DBS report

Due to weak exports and a sharp rise in imports

Economy

UK-based fintech Glint unveils current account for gold

<i>This story was delivered to BI Intelligence "Fintech Briefing" subscribers. To learn more and subscribe, please click here.</i><p>UK-based fintech, Glint, has launched its debit card and current account, which will allow users to purchase gold and use it as a payment option.<p>The company was founded in 2015 …

Business

Euro zone current account surplus widens in September

FRANKFURT (Reuters) - A bigger surplus from trade boosted the euro zone's current account surplus in September, European Central Bank data showed on …

Economy

‘Punchy’: Eurozone external current account surplus balloons in September

The euro area’s current account surplus with the rest of the world expanded to a record size in September, despite the euro being just off more than …

Economy

UBS: The pound is the world's most overvalued major currency

• <b>Sterling is 19% overvalued, Swiss bank UBS says, making it the most overvalued major currency on earth.</b>• <b><br>This is largely down to the UK's "elevated" current account deficit.</b>• <b><br>Despite dropping more than 10% since the Brexit vote, sterling could have further to fall, the bank's strategists say.</b><p>LONDON — …

Economy

Virgin Money plans current account as mortgage pressure looms

Virgin Money warned its profit margin would slip next year due to competitive pressure in the mortgage market, as it prepares to enter the UK current …

Banking

Oil Rally May Be Inflation Game Changer for Asian Central Banks

The rally in oil prices is a potential game changer for inflation in Asia and will pressure central banks to lift interest rates after years of easy …

Economy

Current account deficit and growth are not sustainable

Turkey’s current account deficit reached $4.5 billion in September, higher than expected.Turkey’s current account deficit reached $4.5 billion in …

Economy

Current account gap widens in September

In the nine months of the year, the current account gap totaled $31.1 billion, a 27 percent rise from $24.48 billion in the same period last year.

Economy

DAILY BRIEFING: HSBC planning expansion into US

BANK STRATEGY Mark Tucker, the new chairman of HSBC, is said to be eyeing US deals. American expansion would be a reversal of the bank’s previous …

Personal Finance (UK)

Fears new banking rules will open door to fraudsters in January

A new era of banking will be ushered in from January next year – and security experts say it could put people at greater risk of scams and identity …

Banking

Saudi Arabia: VAT Exempts Current Account, Credit Cards

In a step that supports and pushes the financial and banking sectors in Saudi Arabia, the implementing regulations of the Value Added Tax (VAT) …

Middle East

Inflation expected to jump to a 5-year high of 3.1%

Inflation jumped to a five-year high in October, official figures are expected to show this week, as prices continue to surge following sterling’s …

Economy

Why you should open more than one savings account

Saving money can be tricky, especially when you’re a young adult who’s on a low wage with rent and bills to pay.<p>It takes time to build up a …

Money

How I learnt to love current account deficits

It is an accepted tenet among right-thinking observers of the international macroeconomy that current account deficits and surpluses between …

Economics

Pakistan's Central Bank Allays Concerns Over Widening Deficits

Pakistan central bank Deputy Governor Jameel Ahmad played down concerns over the nation’s widening current account and trade deficits and said they …

Economy

Germany’s At Last Contributing to Global Adjustment

MATTHEW KLEIN at the FT has a nice post in Alphaville recalling the egregious adjustment in the peripheral euro area current account balances since …

Economics

European leaders seem determined to remake the “global savings glut” on a massive scale

The Asian financial crisis was so harrowing for those involved, and those who observed it from a close distance, that governments across the region …

Economics

Banks that use artificial intelligence the best will prosper after PSD2 - Fintech makes the world go around

Artificial intelligence technology could help banks retain the important link with customers when open banking arrives in Europe early next year.<p>The …

Business Technology

How to find your ideal current account this November

Most of us take it for granted - the ability to access and manage our cash in a range of different ways, instantly.<p>The current account is the bedrock …

Money

Challenger bank Monzo raises another £71M from Goodwater Capital, Stripe, and Michael Moritz

Monzo, one of a number of “challenger” banks in the U.K. aiming to re-invent the current account, continues to be on a roll, both in terms of user numbers and now a significant new funding round.<p>The London-based company has raised a further £71 million in a round led by Goodwater Capital, the …

Startups

How Venezuela Bondholders Finally Ran Out of Time

Predicting when Venezuela will finally default has been a decade-long parlor game for bond buyers, but that day is nearing. President Nicolas Maduro …

Venezuela

TSB now pays current account switchers £130 cash

TSB has upped the ante in the current account switching battle with a new £130 cash perk for customers moving to its Classic Plus Account.<p>The added …

Banking

Zero interest in interest rates: 66% of Scots can't identify current bank base rate

Sign up to our <b>Daily</b> newsletter<p><b>Over half (55 per cent) of Scots don’t know what the term “interest rate” means</b>• <b><br>Two thirds (70 per cent) can’t identify</b> …

Mortgages

'I'm on benefits. Is my bank allowed to charge me overdraft fees?'

<i>I have been a customer of Santander for about 10 years and, because of my financial situation, I have at times been overdrawn.</i><p><i>I have complained occasionally and got the penalty charge cancelled but, over the years, I have paid thousands of pounds in charges. I have learnt that regulations had been</i> …

Banking

Mnuchin's right: China's not manipulating its currency

As a candidate, Donald TrumpDonald John TrumpIntel Dem: What’s in dossier more important than who paid for it Overnight Tech: Twitter bans ads from …

Economics

S&P and Fitch leave UK credit rating on hold but warn on Brexit

LONDON (Reuters) - Standard and Poor's and Fitch left their credit ratings for Britain unchanged on Friday but remained gloomy about the outlook due …

Brexit

The US is monitoring India's currency — that alone could hurt the Indian economy

India's persistent buying of the U.S. dollar to keep its local currency cheap has caught the attention of the U.S. Treasury, increasing the risk that …

Business

Current account switching at new low

The number of people switching their current account to another provider has fallen to a new low, according to industry figures.<p>Just 57,779 used the seven day switching service to move accounts in September, the lowest number since the scheme was launched four years ago.<p>The drop came in spite of an …

Banking