Is this the worst day of the financial crisis to date? Some of the world’s
biggest central banks slash their interest rates in a co-ordinated move in a
bid to breathe confidence into the global economy.
The last time such a drastic move was taken was after the terror acts of 9/11
in the United States. Some parts of the media have even set up live text pages
in order to provide a
by blow account of the crisis.
The Bank of England cut interest rates alongside the Federal Reserve in the
US, the European Central Bank, the Bank of Canada, Swiss National Bank and
Sveriges Riksbank in Sweden.
The move was also supported by the Bank of Japan, where rates are already
just 0.5%. Coupled with the
bailout package served up to banks today the global markets have not been so
shaky since Black
Monday more than 20 years ago.
The application of robotics in finance functions is moving faster than predicted. Although, companies are cautious in how they are applying artificial intelligence to ensure results first, many are stepping up their investigations
EU competition commissioner Margrethe Vestager has defended the decision to order technology giant Apple to pay €13bn (£11bn) in back taxes to the Irish government
Carillion has announced the appointment of a new finance director as it reported a rise in first half profits and sales led by strong growth in its support services business
The UK inflation rate hit its highest level in almost two years in July, suggesting that the sharp fall in sterling following the UK referendum to leave the European Union is forcing prices up