AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Shares in the banking sector fell after one of the world’s largest banks HSBC and Barclays moved large sums of illegitimate funds over two decades, despite a lot of red flags. Barclays fell by 4% in London and HSBC lost 3% taking the shares to their lowest level since 1995. Thousands of documents mentioning about the illegal and corrupt transactions were leaked to an international group of investigative journalists. Banks and other financial firms filed suspicious activity reports with the US Department of Treasury’s Financial Crimes Enforcement Network.
The Department for Transport announces rail franchising has been ended because of Coronavirus. Emergency measures were introduced to keep the trains running after the outbreak of the pandemic. The rail union responded by pushing for the rail network returned to public ownership. Chief executive, Matthew Gregory, said that they are more than pleased that rail services will now recognize to the communities and local economies Passengers can be rest assured that public transport is safe with increased service levels to provide more capacity.
National Savings & Investments (NS&I) has decided to cut interest rates to many savings accounts from November 2020. The announcement is a shock to savers, many who turned to NS&I as savings rates have dived during pandemic. NS&I announced the cuts in fixed savings interest rates while Premium Bond prize rate will be dropping from 1.4% to 1%, starting December 2020. Premium Bond holders will have lower chances of winning a prize from December on-wards, with rate as down as 1%.
