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Posts published in “Headlines”

Bank of England “will not Hesitate” to Raise Interest Rates after the Fall of the Pound

The Bank of England has said it will not hesitate to raise interest rates to curb inflation after the pound hit a record low against the US dollar.

Biden Plans to Cancel Part of US Student Loans to Cost $400 Billion – CBO

United States President Joe Biden’s executive action to wipe out some student loan debt will cost about $400 billion, about a quarter of what is owed, the Congressional Budget Office (CBO) said. As of June 30, 43 million borrowers had $1.6 trillion in federal student loans. CBO estimates that approximately $430 billion of that debt will be written off.

Pound Sterling Hit Record low after tax cut plans

The British pound has fallen to a reported low record against the greenback as markets react to the UK’s largest tax cuts in 50 years. In early Asia trade, sterling fell near to $1.03 earlier than regaining a few floors to face at about $1.07 on Monday morning, UK time.

Barclays Shareholders are Suing In the US Over $17.6 billion Debt Sale Error

Barclays Plc ( BARC.L ) was sued on Friday in a proposed U.S. class-action lawsuit in which shareholders say they were defrauded when the British bank sold $17.6 billion more debt than regulators allowed.

Flutterwave Enables Google Pay for Businesses in Africa

Flutterwave, Africa’s leading payment technology company, today announced Google Pay, a mobile payment service developed by Google, as Flutterwave’s payment method. As part of this collaboration, Google Pay is an additional payment option for Flutterwave for business merchants. This collaboration offers customers secure and smooth payments and a convenient checkout experience.

Fraudsters Believed To Have Stolen $45.6 billion from the US COVID Unemployment Insurance

Reports have it that Fraudsters likely stole $45.6 billion from the U.S. unemployment insurance program during the COVID-19 pandemic using tactics such as using the Social Security number of deceased individuals, a federal watchdog said on Thursday.

Silicon Valley Bank Hires UK Chairman and Sees Business Boom Despite Tough Macro Outlook

California-based Silicon Valley Bank ( SIVB.O ) ( SVB ) has hired former TSB bank executive Darren Pope as chairman of its newly formed UK branch as it expands its business advisory business on technology deals despite a darkening economy.

Norway Raises Interest Rates to 2.25 Percent, Expect Smaller Increases

Norway’s central bank raised its benchmark interest rate by a widely expected 50 basis points to 2.25 percent on Thursday but said future increases would be “more gradual,” weakening the country’s krone currency.