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Multiple banking developments are underway: UK banks increase switching bonuses, Israel's Esh Bank begins limited operations with a revenue-sharing model, and the UAE launches a new instant payment platform. These efforts aim to boost competition, transparency, and customer benefits in banking services.
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Labour proposes reforms to streamline UK home purchases, requiring upfront property information and earlier binding contracts. The goal is to cut transaction times by four weeks, saving first-time buyers around £710. The government plans to consult further and implement digital processes, drawing on international models, to reduce delays and costs.
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The Bank of England's upcoming rate decision is highly uncertain, with analysts split on whether to cut or hold at 4.0%. Recent data shows inflation easing, but external factors and political signals complicate the decision. The outcome will influence borrowing costs and economic outlook.
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The Bank of England's latest Financial Stability Report highlights increased risks to the UK financial system from cyberattacks, geopolitical tensions, and inflated tech valuations, especially in AI. Major firms like JLR and retailers have faced cyber incidents this year, raising concerns about systemic vulnerabilities.