David Broadbent appointed CEO of Europe's SES Space & Defense
He previously held a similar position at Intelsat, which SES acquired on July 17.
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The Sun
19 minutes ago
- The Sun
Big bank with 3.6million customers makes huge change to accounts and customers are desperate for it come back
A MAJOR bank with over 3.6million UK customers has made a big change to its current accounts. Starling customers can no longer open a second personal current account with the digital bank - a feature used by many banking customers to help them manage their money. 1 Starling told The Sun it had "temporarily" stopped allowing customers to open additional accounts while it makes improvements. The bank quietly suspended additional accounts in 2024, the Sun understands, and customers have since been calling on the business to bring back the feature. One customer posted to X this week: "@StarlingBank any idea when additional accounts will be back? I originally had one and would like to enable it again." Another posted to the platform in January asking: "Can i create a second personal account in @StarlingBank?" One customer asked on Reddit: "Have Starling stopped letting you open a second personal account for yourself? "I'm sure it used to be a thing when I first started with Starling, but now I get 'you've reached your personal account limit' with one account, and a similar error ('you're not currently able to apply for this account') when I go to open a Personal Additional." Starling previously allowed customers to open an extra everyday bank account, free of charge, alongside their personal current account. The change only affects additional personal current accounts, and customers can still open joint and business accounts with the bank. A spokesperson for Starling told the Sun: "We've paused applications for secondary personal accounts while we focus on improving our account offering. "Customers are still able to apply for a joint account, provided both customers are Starling customers. Joint accounts remain limited to one per customer." Popular bank with over 400 spots confirms it is shutting 18 branches in August – it follows 148 closures by rivals Starling did not confirm when additional accounts would be returning to the banking app. It comes after the bank scrapped interest payments on its current accounts for all customers in February. Before February 10, Starling paid 3.25% interest on balances up to £5,000, meaning a customer with the maximum amount in their account could earn an extra £162.50 a year in interest. For customers still wanting to save, the bank introduced an easy access savings account paying 4% interest. Saving £5,000 into this account would yield £200 in interest over 12 months. Other bank changes The Sun revealed this week that NatWest is increasing fees for cash payments, cheque transactions and certain online transactions. From August 30, cash payments into and out of business accounts will see their fees surge from 70p per £100 to 95p per £100. Cheque payments, whether processed by hand or by mobile, will also jump from 70p to 75p per cheque. The bank is also increasing some charges related to its BACS payment system, with processing fees rising from 18p to 21p. Meanwhile, Santander recently revealed that it would start charging customers £120 a year for an account it promised would be "free forever". Thousands of small business and self-employed account holders are facing £9.99 monthly charges from October for business accounts. The changes come despite written assurances that their accounts would always remain free of fees, leaving customers feeling betrayed by the charges, which some branded "disgusting". A spokesperson for Santander said: "The business banking landscape has changed significantly over the last decade. "As such, we are simplifying our business banking offering as the first step to ensure that we can sustainably and efficiently evolve to better meet the needs of our business customers in the future." Do you have a money problem that needs sorting? Get in touch by emailing money-sm@
Reuters
19 minutes ago
- Reuters
Dollar holds steady after ECB leaves rates alone, tariffs and Fed in focus
July 24 (Reuters) - The dollar traded sideways against the euro on Thursday after the European Central Bank held rates steady, and was wedged between prospects for higher Japanese rates that supported the yen and worries about political risk after Sunday's elections. The European Central Bank left interest rates steady at 2%, as expected, on Thursday, taking a break after a year of policy easing to wait for clarity over Europe's future trade relations with the United States. "The view that the ECB is probably on hold here is probably gaining a bit more traction. We've trimmed expectations for the cuts in September to certainly less than 50/50," said Shaun Osborne, chief foreign exchange strategist at Scotiabank in Toronto. The Japanese central bank's deputy governor, Shinichi Uchida, said Tuesday's trade deal with Washington had reduced economic uncertainty, comments that fuelled optimism in the market about the potential resumption of interest rate hikes. Analysts believe the yen will face persistent headwinds after Sunday's upper house election, with the opposition considering a no-confidence motion. The European Union is nearing a deal that would impose a broad 15% tariff on EU goods, diplomats said. The rate, which could also extend to cars, would mirror the framework agreement the United States struck with Japan. "The ECB faces a challenge that is quantitatively different from the BoJ's," said Thierry Wizman, global forex and rates strategist at Macquarie Group. "The euro has appreciated by far more than the JPY so far in 2025, meaning that the disinflationary impulse from U.S. import tariffs may be greater in the EU than in Japan, or the ECB may suspect as much," he added. PMI data showed fragility in France following budget-cut proposals there, but also resilience in Germany and other parts of the euro zone. Data showed that German business activity continued to grow marginally in July. "As of now, there has been very little tariff impact on the hard data," said Mohit Kumar, economist at Jefferies. Meanwhile, risk assets rallied as the trade deals eased fears over the economic fallout of a global trade war. Next week the Federal Open Market Committee meets and is expected to leave rates where they are as policy makers wait for the expected impact from tariffs on inflation and growth to show up. A number of U.S. employment releases next week culminate with Friday's big June payrolls report, while the July Personal Consumption Expenditures Price Index and the first revision to 2nd quarter Gross Domestic Product could also move markets. "A lot of event risk next week and not just from the Fed, we've got a lot of data next week as well, so that's probably going to shape expectations to some extent for September," Osborne said. The euro was 0.17% firmer at $1.1786, not far from $1.1830 it hit earlier this month, which marked its strongest level in more than three years. Against the yen , the dollar was 0.07% weaker at 146.39, and hit a fresh 2-week low earlier in the session at 145.86. Olivier Korber, forex strategist at Societe Generale, expects the yen to strengthen further, citing support from the trade deal and prospects for higher interest rates. Ishiba denied on Wednesday he had decided to quit after a source and media reports said he planned to announce his resignation to take responsibility for a bruising upper house election defeat. Currencies mostly shrugged off news that U.S. President Donald Trump, a vocal critic of Federal Reserve Chair Jerome Powell, will visit the central bank on Thursday, a surprise move that escalates tensions between the administration and the Fed. The dollar index , which measures the greenback against a basket of six currencies including the euro and yen, was off 0.03% at 97.17. In cryptocurrencies, bitcoin gained 0.33% to $118,391.37. Ethereum rose 2.14% to $3,647.18.
Reuters
19 minutes ago
- Reuters
Amazon faces UK lawsuits worth up to $5.4 bln from retailers, consumers
LONDON, July 24 (Reuters) - Amazon (AMZN.O), opens new tab faces two mass lawsuits from retailers and consumers worth up to 4 billion pounds ($5.4 billion) for allegedly abusing its dominant position, after a London tribunal on Thursday certified the cases could proceed. Andreas Stephan, a competition law academic, is bringing one of the cases on behalf of over 200,000 third-party retailers, worth up to 2.7 billion pounds. His lawyers allege that Amazon manipulates the "Buy Box" feature on its website to its own advantage and favours products that use Amazon's own logistics centres and delivery network. Consumer advocate Robert Hammond is separately bringing a case valued at up to 1.3 billion pounds on behalf of millions of Amazon customers for similar alleged abuses of dominance. Amazon argued that the Competition Appeal Tribunal should certify the cases to proceed, an early step in the proceedings, including because the economic methodology for proving the cases was flawed. But the tribunal certified both cases on an opt-out basis, meaning members of the claimant class will be part of the case unless they decide otherwise. An Amazon spokesperson said: "These claims are without merit and we're confident that will become clear through the legal process. "Amazon has always focused on supporting the 100,000 businesses that sell their products on our UK store, and more than half of all physical product sales on our UK store are from independent selling partners."
