Finanse

Court judgments in cases of Swiss franc loans undermine the foundations of banking - these and several other strong phrases were included in the letter of bank governors to the head of the central bank, prof. Adam Glapiński. Bankers are calling on the regulator to act "before it is too late" - we read in "Puls Biznesu".more

Poles living in Great Britain and other European countries such as the Netherlands, Norway or Austria are still unsure as to the scope of the provision adopted by the Polish Sejm on October 28, concerning the limitation of abolition relief. It turns out that people living abroad permanently and working there all the time should not be afraid of double taxation.more

The Bank of England has launched a fresh £150bn stimulus package for the UK economy amid the second Covid wave and the reintroduction of lockdown across England.more

Marks & Spencer sank to the first loss in its 94 years as a publicly-listed company as the coronavirus crisis hit trading.more

UK regulator Financial Conduct Authority (FCA) has announced that it will extend payment holidays on personal loans, credit cards, motor finance, and pawnbroking to further support borrowers hit by the coronavirus pandemic.more

Transport for London (TFL) has secured a bailout worth up to £1.8bn ($2.3bn), from the UK government.more

The management of the Santander group announced yesterday that it would implement a savings plan, as a result of which the bank would lay off workers. more

Nearly 200 airports in Europe will face insolvency in the coming months if passenger traffic does not start recovering by the end of the year, airports body ACI Europe said on Tuesday.more

Despite now having a reported net worth of over $400 million, NBA legend Shaquille O’Neal says he used to be terrible with money. But he says, he got some good money advice early on from his mentor and former Lakers star Magic Johnson.more

Introducing driverless trains across London Underground would cost £7 billion and would represent “poor value for money”, according to a leaked document.more

UK government borrowing hit £36.1bn in September as the UK continued its heavy spending to support the economy during the coronavirus pandemic. At the same time, the Treasury scrapped a three-year spending review. The figure was £28.4bn more than last year and the third highest in any month since records began in 1993, the Office for National Statistics said.more

Uefa, European soccer’s governing body, is cutting prize money for its club competitions for the next five years after incurring losses from Covid-19, according to The Times.more

A budget "unprecedented in size and scale" to meet the challenges of both Covid-19 and a Brexit trade deal has been unveiled by Irish Finance Minister Paschal Donohoe.more

Two American economists won the Nobel Prize on Monday for improving the theory of how auctions work and inventing new and better auction formats that are now woven into many parts of the economy, including one that revolutionized the telecom industry.more

The Bank of England has moved a step closer to adopting negative interest after writing to banks asking them how ready they would be for the ground-breaking move.more

EasyJet has warned it faces losses of more than £800m this year and that it expects to fly at just 25% of normal capacity into next year. The annual loss will be the first in EasyJet's 25-year history.more

Boris Johnson has promised to create 2 million more owner-occupiers by introducing 5 per cent mortgage deposits for first-time buyers to transform “generation rent” into “generation buy”.more

British banks Barclays, Coutts, and Lloyds are to stop serving UK customers resident in the EU at the end of the year because it will become illegal to do so in the absence of a new post-Brexit deal on financial services, The Sunday Times reports. Lloyds told 13,000 customers in Germany, Ireland, Italy, the Netherlands, Portugal, and Slovakia they will terminate accounts by the end of the year.more

Barcelona have announced losses of €97 million (£88m) for the 2019-20 economic year and blamed the coronavirus pandemic for a €203m (£184m) decrease in revenue.more

TSB has announced plans to close 164 branches and cut 969 jobs as it accelerates a shake-up launched last year. The cuts, blamed on the shift in customer behaviour from over-the-counter to online banking - accelerated by the COVID-19 pandemic - will reduce its high street network to 290.more

There will be no controlled bankruptcy. The Polish Airlines LOT agrees on the amount of public aid - the Polish daily "Dziennik Gazeta Prawna" reports.more

Royal accounts could suffer a potential £35m shortfall due to coronavirus. The impact of lockdown on visitor numbers to venues such as Buckingham Palace and Windsor Castle will lead to an estimated £15m loss of income over the next three years, the Keeper of the Privy Purse said.more

The government and firms will continue to top up wages of workers who have not been able to return to the workplace full time due to the coronavirus. The Jobs Support Scheme, which will replace the furlough scheme, will see workers get three quarters of their normal salaries for six months.more

The sector wants to counteract high losses by seeking agreements and reducing the number of lawsuits. But for now, there will be no breakthrough, because the expectations of customers and banks' capabilities differ greatly, writes today's Rzeczpospolita.more

Former manager Cezary Kucharski accuses the captain of the Polish national team, Robert Lewandowski, of incorrect settlement of transfers and demands EUR 9 million (approx. PLN 40 million) in compensation. The tax office was also informed, according to the German media.more