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TBA’s latest news – 1st August 2023

Warwick Business School establishes new fintech centre £3 million of newly received funding will be used to establish the Gillmore Centre for Financial Technology, led by renowned academics and fintech business leaders. The centre will focus on developments in AI, machine learning, blockchain and cryptocurrencies. Read more here… Unexpected rise in mortgage approvals Despite predictions …

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Why have interest rates gone up?

On June 22nd, the central bank raised its benchmark interest rate by 0.5 percentage point to 5%, impacting various financial products such as savings accounts and mortgage loans. Prior to this, in order to curb persistently high inflation rates, the central bank had been consistently raising its benchmark interest rate. The good news is that …

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Hundreds of millions in UK aid returns to Treasury in VAT on asylum hotel bills

In recent years, the cost of accommodating refugees in British hotels has been steadily increasing, and the Treasury has been reclaiming hundreds of millions of pounds of UK aid spending in the form of value-added tax (VAT). The government claims that it has been paying VAT for the expenses of accommodating these refugees in hotels …

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