5 Things You Need To Know, Today, on Monday 22nd May 2023
If you find this podcast useful please give it a rating and review on iTunes by clicking here
5 Things You Need To Know, Today, on Monday 22nd May 2023
1. Asking prices for British homes rose in May by more than in any other month this year as a better economic outlook and steadier mortgage rates offset the impact of the Bank of England's interest rates rises Rightmove said.
The average price of homes coming to the market jumped by 1.8%, or £6,647 pounds from April, above the average rise for May of 1.0%.
2. UK and US regulators were told of a state-led drive to "rig" interest rates in the 2008 financial crisis, but covered it up, evidence indicates.
Documents suggest lenders sharply dropped their interest rate estimates after pressure from central banks.
3. Almost half of medium-sized British companies plan to delay investment plans due to last month's rise in corporation tax.
Low business investment is one of the reasons economists give for the weak growth in British productivity and living standards over the last decade, and businesses have complained that higher tax rates reduce their incentive to invest.
4. Meta is expected to face a record fine later over its transfer of Facebook's European user data to US servers.
Reuters news agency cited two anonymous sources familiar with the matter as saying that the penalty from EU regulators will be higher than the previous record - a €746m (£647m) fine for Amazon over its flouting of EU privacy standards.
5. Criminals are getting smarter at targeting victims to gain access to banking apps on mobile phones, a senior UK fraud officer has said.
Thieves typically "shoulder surf" victims to catch them entering their PIN before stealing the phone.
Disclaimer & Declaration of Interest
The information, investment views and recommendations in this article are provided for general information purposes only. Nothing in this article should be construed as a solicitation to buy or sell any financial product relating to any companies under discussion or to engage in or refrain from doing so or engaging in any other transaction. Any opinions or comments are made to the best of the knowledge and belief of the writer but no responsibility is accepted for actions based on such opinions or comments. Vox Markets may receive payment from companies mentioned for enhanced profiling or publication presence. The writer may or may not hold investments in the companies under discussion.