Catch Bank of Cardiff's latest newscast and get up to speed on some of the burning issues of the day - in a matter of minutes. We'll report on developments in the US and Europe and provide insightful comment on a wide range of news stories from finance to entertainment. Check in for your regular update!
December 21, 2015
Financial institutions and lenders are preparing for accelerating uncertainty in 2016. Global economic turbulence, a rapidly shifting lending landscape and the looming presidential election could combine to create perfect storm that might well scupper the chances of a swift recovery from the world's economic problems. The party is far from over, but there's plenty to trouble even the most optimistic of pundits.
December 4, 2015
A stiff, multi-million-euro tax bill awaits Starbucks and Fiat Chrysler as they prepare to face a ruling by the European Commission (EC), that they had unlawful sweetheart deals with the Netherlands and Luxembourg. The EC has been looking closely into allegations that multinationals, including the coffee giant and car manufacturer, have benefited from the willingness of some member states to offer special terms to companies willing to funnel their profits through them, so avoiding their tax liabilities in other EU countries.
December 3, 2015
Following on from the Copenhagen summit, where no binding agreement was reached, the Paris summit represents renewed efforts to address global climate change. The 21st Conference of the Parties (CoP) of the United Nations Framework Convention on Climate Change (UNFCCC) involves more than 190 nations and will be focused on reducing global greenhouse gas emissions. Existing commitments on emissions expire in five years, so an action plan for the next ten years is expected.
December 2, 2015
The Paris attacks caused a wobble in the global market with more than €2bn ($2.12bn) wiped off shares in European travel and hospitality companies, as investors feared a dip in bookings across the continent. Shares in airlines and tour operators dropped sharply on the first post-attack trading day, but the slump proved short-lived, with markets quickly stabilising and the Paris Bourse ending the day only slightly lower than its Friday close.
November 30, 2015
The buoyancy of the US economy will be tested if the rate rise indicated by the Federal Reserve goes ahead in December. The Commerce Department recently reported that GDP grew at an annual rate of 2.1% over the July-September period, up from a previously estimated figure of 1.5%. While this may still represent a slowing in growth from the previous quarter, it is likely to influence decision-makers at the Federal Reserve as they consider their first rate rise in 9 years.
October 16, 2015
Consumer confidence is being tested again following news that discrepancies have been found during the official testing of Samsung TVs in Europe. An EU-funded research group says it has logged higher energy consumption rates for the manufacturers' TVs in real life than were recorded in lab conditions, leading to allegations that the company is gaming the testing process and bringing into question the veracity of Samsung's power consumption and emissions claims.
October 15, 2015
The head of the International Monetary Fund has warned of a continued global economic slowdown - especially in the large emerging market countries - that will cut global growth to its lowest level since 2009. Forecasts to be published by the IMF in October will show global economic activity lower that the figure recorded in 2014 and predict that only a modest acceleration can be expected in 2016.
October 14, 2015
Car manufacturer Volkswagen is facing public condemnation after stories emerged that the company had rigged its diesel vehicles' performance in emissions tests. A number of staff have been suspended as investigations continue and shares have plummeted following admissions that 11m cars were fitted with devices designed to disrupt testing. VW has set aside €6.5bn to fix the issues but will likely face punitive fines from US regulators, as well as legal action from customers and shareholders all over the world.
October 12, 2015
Chinese manufacturing activity fell to a six-year low as China's president defended his government's stock market intervention during his recent state visit to the US. Xi Jinping claimed that although the economy was experiencing difficulties, it was on the road to recovery. International concern remains, though, as evidence of the country's economic slump was seen in a dip in average annual growth rate to around 7.4% - with IMF forecasts standing at 6.8% for next year.
August 17, 2015
British Chancellor George Osborne has started the controversial process of transferring bailed-out bank RBS back to private ownership. The sell-off of a 5% stake in the bank - around £2bn-worth of shares - will reduce the taxpayers' holding to under 75% and is the first sale of shares since the bank was rescued in 2008. The sell-off will result in a loss of around £1bn to the UK taxpayer.
August 11, 2015
The Greek stock market plummeted by more than 20% on its first day of trading after the month-long closure prompted by concerns that Greece may be about to leave the eurozone. The Athens stock index saw its worst-ever performance in the minutes after trading began, with banking shares, which make up about a fifth of the index, being hit particularly hard. The overall banking index fell to its 30% volatility limit.
August 6, 2015
Seven years after it began, the global investigation of the rate-rigging scandal that caused shockwaves across the world has resulted in its inaugural conviction. A 14-year jail sentence has been handed down to former UBS and Citigroup derivatives trader Tom Hayes after becoming the first to be found guilty by a jury of rigging the Libor interest rate. The trial, which is being held in London has resulted in a number of charges against individuals as well as $9 billion-worth of bank regulatory settlements.
September 18, 2015
Feeling the pinch? Well, how far your money stretches pretty much depends on where you live, according to independent research organisation, the Tax Foundation. Data has recently been collated to find out how much $100 buys you on a state-by-state basis and the results show that regional variations can be significant. While there is a correlation between income levels and prices, it's not as clear cut as you might imagine.
July 15, 2015
Pilot Andre Borschberg landed his solar-powered plane on Hawaii's Oahu Island to complete a remarkable 118-hour non-stop flight across Pacific Ocean. The record-breaking journey concluded the eighth stage of a 13-leg trip around the world, clocking up 5,000 miles in just five days without any fuel - a record for a plane run only on solar power.
July 14, 2015
British bank Barclays has announced that boss Antony Jenkins has been ousted from his job by a disgruntled board just three years after he was promoted to the job in the wake of the Libor scandal. Jenkins is being replaced for now by chairman John McFarland following unrest over the board's desire for bigger cost cuts and more focus on the investment bank's performance.
July 13, 2015
With tensions high in Europe as it faces its biggest crisis since the union, questions are being asked about the viability of giving the green light a third bailout for the Greek economy. But what happened to the hundreds of billions of Euros of financial assistance delivered in the wake of the global crisis of 2008?
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