The idea was recently put forward by anti-poverty campaigners who have argued that a small levy applied to each transaction would mean billions of pounds could be redirected to support developing nations. Turner said he sympathised with applying a tax that would be "a nice sensible revenue source for funding global public goods". … [Read more...] about Financial Services Authority chairman backs tax on ‘socially useless’ banks
Robert Sammons, research director at Cushman & Wakefield who was not involved in the effort to sell the Bank of America Building, said he doesn’t expect to see a robust sales market until the middle of 2021. He is forecasting that rents will bottom out at the end of 2020 and the first quarter of 2021 before starting to recover next spring and summer. Given that context, he said, it made sense for Vornado to hold off on a sale at 555 California St. … [Read more...] about Sale of SF’s Bank of America building, part-owned by Trump, put on hold
Gold suffered its second-biggest drop in seven years on the day that Pfizer Inc. announced early results showing its vaccine was 90% effective. Political wrangling in the US is raising doubts about future stimulus. ETFs, which were so crucial to this year’s rally, have seen outflows for two straight weeks, while hedge funds’ bullish bullion bets were near the lowest level in 17 months in the week to Nov. 17. … [Read more...] about Gold’s big question: Can the bull market outlive a pandemic?
Dixit wrote a letter to all the depositors, assuring them that a “meaningful resolution” is his top priority. “The bank has already initiated actions for the recovery of bad debts, including accounts of the HDIL group. We have intensified our recovery efforts through close follow up, settlements and legal action, as appropriate. We have taken aggressive steps to control costs and cut expenses. Branch network is being rationalised, premises are being surrendered and rents are being re-negotiated down,” stated his letter. … [Read more...] about 14 months on, Punjab and Maharashtra Co-operative Bank depositors yet to get RBI relief on withdrawals
The latest episode of Kaun Banega Crorepati 12 started with Wednesday's roll-over contestant Lakshmi Ankushrao Kavade, who works as a peon in a school. During the introduction video, Laxmi shared her story that as her father passed away when she was too young, she did not get a chance to complete her education. She got married at an early age and the situation at her in-laws also did not support her to complete education. However, when she started growing up, she again started to study and took up education. Laxmi's husband was all praises for her as during the lockdown it was only because of Laxmi's job at the school that they could survive as his business was also affected. During one of the questions about banking, Big B revealed that he doesn't have an ATM card and he is scared to use it. He told Laxmi he fears what if the card gets stuck inside the machine, if he tries to withdraw money. However, now he feels even he should have an ATM card. Laxmi played the game quite well and … [Read more...] about Kaun Banega Crorepati 12: This fashion designer from Delhi participated on the show as she went broke during the pandemic
So, does this mean house prices will keep rising 2-3 per cent a month from here on out? No, partly because banks are voluntarily returning to demanding a 30 per cent minimum deposit from investors. But gains averaging above 1 per cent a month for the next year look likely. Why? … [Read more...] about Why are house prices still rising during the pandemic?