• Business

    No-Deal Brexit May Be the Trigger for BOE to Use Negative Rates

    (Bloomberg) — The Bank of England’s preparations for the aftermath of a potentially messy Brexit could include a new weapon by the end of the year. Policy makers have given the strongest signal yet that they’re considering using negative interest rates, saying they’ll work with bank regulators on how they might implement such a policy for the first time in the central bank’s history. A failure by the U.K. government to reach a trade deal with the European Union by the end of this year could tip them over the edge. They’re saying “you’ve got to get your ducks in a row because we may be forced to use it,”…

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  • Business

    London Capital & Finance administrators sue 13 executives for £178m in case set to trigger further claims

    One of the biggest lawsuits against the alleged perpetrators of a retail investment scandal has been launched in the High Court with 13 businessmen being sued for £178 million over the alleged fraud at London Capital & Finance. The move, launched by administrators acting for the 11,600 people who bought bonds in LCF, is set to trigger a flurry of other legal actions over failed investments made by pensioners in other companies allegedly connected to aspects of the LCF scandal. These include investors who lost money on a big hotel scheme in the Dominican Republic called El Cuype and a Cornish holiday park, Waterside. High profile City businessman Simon Hume-Kendall,…

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