Finance News

TSB counted the cost of an IT meltdown which left customers locked out of their online accounts and exposed to fraud. The Spanish-owned challenger bank sank to a £107.4million half-year pre-tax loss compared with a £108.3million last time after a £176.4million hit following the botched migration in April. Daily Express :: Finance Feed

THE pound is hovering close to its opening levels against the euro today, with one pound currently trading at a rate of €1.125. Sterling is holding its ground so far today despite the news that Theresa May’s Brexit customs proposal is not likely to be accepted by the EU. Daily Express :: Finance Feed

THE pound US dollar exchange rate is currently at around $ 1.311, virtually unchanged from this morning’s opening levels in advance of what is forecast to be an impresses US GDP report. Daily Express :: Finance Feed

A TROUBLED energy provider has ceased trading leaving thousands in limbo after after the company was banned from taking on new clients due to poor customer service. Sector watchdog Ofgem announced the closure of Iresa, leaving nearly 100,000 customers in limbo. Daily Express :: Finance Feed

BITCOIN has fallen back to $ 7k territory after slipping sharply from $ 8,287 to $ 7,847 late last night. As thoughts turn to crypto’s move towards mainstream finance, the Securities and Exchange Commission served a second blow to the Winklevoss’s attempt to list the first-ever crypto ETF on a regulated exchange. Daily Express :: Finance Feed

SKY underlined its attraction as a £26billion takeover target with a 29th straight year of revenue growth as it added over half a million customers and insisted there is more progress to come. Daily Express :: Finance Feed

FACEBOOK has seen its worst day in the company history as it lost $ 120 billion in market value and reduced share prices to $ 173.75. Experts say that due to the recent scandals surrounding Cambridge Analytica the sudden crash is not surprising. Daily Express :: Finance Feed

FACEBOOK shares have plummeted by more than 19 percent today, wiping as much as £11.4billion from the value of the company in what is set to be the largest one-day hit in corporate history. Daily Express :: Finance Feed

A CROSS-PARTY group of MPs has told Chancellor Philip Hammond to reduce tax relief for pension contributions used primarily by the rich and make savings incentives more attractive for poorer people. Daily Express :: Finance Feed

AMAZON is set to become the world’s first $ 1 trillion company after profits jumped nearly 600 percent this year following the expansion of its cloud and advertising business. Daily Express :: Finance Feed