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Competition regulator's grilling on banks was exquisite torture

Houses of Parliament

Inquiries into the banking sector have arrived at a rate of about one a year for the past couple of decades, but has any been as feeble as this summer’s offering from Competition and Markets Authority? That was the one that concluded that a few tweaks, like better price comparison websites and a voluntary cap on overdraft charges, might succeed where stiffer remedies had failed in the past to boost competition.

If this market turmoil forces a US rate cut, the outlook will truly be grim

Janet Yellen

This time last month stock markets were starting an end-of-year rally, cheerfully regarding the US Federal Reserve’s small increase in interest rates as evidence of the underlying strength of the global economy. Now, says William White, former chief economist of the Bank for International Settlements, the situation is as bad as in 2007, the onset of the banking crash.

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Houses of Parliament

Competition regulator's grilling on banks was exquisite torture

Inquiries into the banking sector have arrived at a rate of about one a year for the past couple of decades, but has any been as feeble as this summer’s offering from Competition and Markets Authority? That was the one that concluded that a few tweaks, like better price comparison websites and a voluntary cap on overdraft charges, might succeed where stiffer remedies had failed in the past to boost competition.