The British Competition and Markets Authority (CMA) wants to convince the citizens to change banks more often. Now, 60% of Britons have done their banking with one bank for 10 years. As a result of this, the market is dominated by the "big four". RBS, Barclays, Lloyds Banking Group and HSBC service 77% retail and 85% of corporate accounts, writes the FT. By 2018, CMA wants to give citizens an...

A report, published by American law firm Haynes and Boone, says that 90 oil and gas companies in the US and Canada have declared themselves bankrupt in the period from 3 January 2015 to 1 August 2016. Total debt of the companies amounted to about $ 66.5 billion, as calculated by the law firm. This includes cases where bankruptcy is governed by Chapter 7 of the US Bankruptcy Code (liquidation,...

As follows from the China General Administration of Customs data published today, rate of the Chinese economy exports decreased by 4.4% in July, and import rate - by 12.5% in annual terms. China's trade surplus last month rose to $ 52.31 billion, while expected average was $ 48 billion from $ 48.11 billion in June. China's export and import figures in July fell more than expected, as can be seen...

Mercedes is planning to launch its own line of electric vehicles, defying Tesla Motors, which tries to entice buyers of C-Class cars. German carmaker Mercedes is going to start production of two electric SUVs and two sedans, said to Bloomberg two sources familiar with the company’s plans. According to one of the sources, Mercedes intends to create a separate brand for its electric cars, but no...

On Tuesday, Hong Kong Bitfinex, one of the largest trade areas conducting transactions with Bitcoin, suspended its work due to a hacker attack. This resulted in almost 120 thousand BTC ($ 65 million) stolen from customer accounts. Quotes of the digital currency immediately collapsed: during the trading, value of one Bitcoin fell from $ 605 to $ 480. Bitcoin’s quotes on Tuesday fell back to...

The accident at Fukushima-1 NPP happened in 2011 is still affecting price of uranium as negative attitude towards nuclear power in Japan is gaining momentum again. Japan has only one prefecture with an NPP. Three weeks ago, its residents voted for a candidate who promised to stop the plant’s work. Cost of a pound of uranium dropped to $ 25, the lowest level since April 2005, according to Ux...

Restoration of the Eurozone economy was short-lived. In the II quarter, the growth slowed twice to 0.3%, compared with the first half. In annual terms, the Eurozone’s GDP increased by 1.6% after 1.7%, Eurostat said. There were no changes in the GDP of some of the block’s second largest economics - France (0.7% in I quarter) and Austria (0.6%). Spain, the fastest growing economy in the region,...

The federal government of the USA has decided to introduce control over transactions with expensive real estate in New York, two districts of the state of Florida, in Los Angeles, the beach area of San Francisco, in San Diego (CA), as well as in San -Antonio (Texas). This was announced by Director of the US Financial Crimes Enforcement Network (FinCEN) Jamal El-Hindi. The agency is part of the...

Chinese companies are actively buying up foreign mining companies. The volume of investment has already been increased to $ 4.5 billion. The cash flow is mainly targeted on copper and gold mine located in Africa and Latin America. Chinese investors are buying up mining assets outside their home land. During the first half of 2016, Chinese companies and funds acquired overseas mining assets worth...