A forex broker whose company was approaching financial meltdown switched £1.05 million from a business account to buy two apartments in Dubai in a relative’s name. Ehsan Tayefi, aged 39, from South West London, was the director of Numex Foreign Exchange Corporation (UK) Ltd. The company carried out foreign currency exchanges through a major platform … Read more
Stock markets slumped to record losses in the first three mnths of the year due to fears over how coronavirus impacts the world economy and investments. As the largest falls recorded for quarterly trading in 37 years hit the markets, London‘s FTSE dived 23% and New York’s Dow Jones plunged 25%. Most other markets around … Read more
The British government is working with partner airlines to bring thousands of stranded travellers back to the UK. Foreign Secretary Dominic Raab has set aside £75 million to help pay for the airlift involving British Airways, Virgin and EasyJet. He is also calling for international collaboration between government and airlines to get marooned travellers to … Read more
The financial pain of coronavirus uncertainty for buy to let landlords has been eased by the housing minister. Secretary for Housing Robert Jenrick is extending a mortgage lifeline to landlords who pass on the help to tenants who cannot pay the rent due to illness or the loss of income due to the deadly virus. … Read more
Financial support is coming for freelance and self-employed expats who pay their taxes in the UK, Prime Minister Boris Johnson has promised. In his last Prime Minister’s Questions in a sparse House of Commons before Easter, Johnson announced ministers were “working as fast as we possibly can to get the appropriate package of support for everybody … Read more
The time for more governments to consider dropping helicopter money on households trapped in dire financial straits due to the coronavirus outbreak is with us, says financial experts. Central banks are running out of weapons and strategies to counter the bottom falling out of the world economy as the deadly illness threatens to hold nations … Read more
Coronavirus will change the way we live and do business, according to a technology expert. Up to now, the technology has been available but not used to full potential, but the fear of catching and spreading the deadly illness has changed the world. Businesses are facing seismic changes as markets dry up and travel plans … Read more
The cost of living in a new country is a concern for many expats who find their bills are higher than expected. Half are forking out more than planned after moving, research by Axa Global Healthcare reveals. Expats with families are especially hard hit, with 40% shocked by the cost of higher education and one … Read more
The days of handing over cash could be numbered as the economy is in a shift to digitisation, warn campaigners. New laws are needed to protect the pound in the pocket, says lobby group Access to Cash Review. And they are calling on Chancellor Rishi Sunak to take urgent action to protect spending money in … Read more
Fund managers are worried that a Brexit trade deal will see the government scrap or restrict tax breaks on hugely successful investment schemes that have raised billions of pounds for businesses. The Enterprise Investment Scheme Association (EISA) wants the government to overhaul the Enterprise Investment Scheme and Seed Enterprise Investment Scheme now the UK has … Read more