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Open Banking 'revolution' to challenge banks' dominance

A fundamental change to the way people can bank, manage and spend their money in the digital world is under way.A change in the law and the start of the Open Banking system means people can allow businesses, other than their bank, to access their financial data.Organisers say this …

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Carillion's woes

UK construction firm Carillion is in huge financial trouble.The UK’s second-largest construction is shouldering a whopping £1.5bn debt pile and some fear it could collapse into administration. The big concern is over the disruption this might cause, given Carillion holds so many government contracts – from building hospitals to …

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Open Banking: UK's big financial experiment

It’s being called a revolution in banking. So-called Open Banking kicks off on Saturday in what amounts to a gigantic financial experiment in which Britain is leading the world. Under the scheme, nine of the biggest lenders operating in the UK – Lloyds, RBS, Barclays, HSBC, Santander, Danske, Allied …

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Accountancy firm Price Waterhouse banned from India

PwC’s Indian unit has been banned from auditing listed companies for two years, over one of the country’s biggest corporate scandals.Price Waterhouse was auditor for Satyam computers when company owner Ramalinga Raju admitted to inflating earnings.The ban by Indian market regulator the Securities and Exchange Board (Sebi) will come …

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