Financial lifeboat scheme extends deposit protection amid bank failure fears

Savers are to be offered greater protection against bank failures, amid concerns that the coronavirus pandemic has increased the likelihood of financial firms collapsing.

The Financial Services Compensation Scheme is the industry lifeboat fund which compensates customers who have lost money to failed financial institutions. Deposits with British banks, building societies and credit unions are normally protected up to £85,000 per person.

However, there is additional protection for customers who have temporarily high balances of up to £1m. This may be because the proceeds of a house sale have been deposited in their account or they have received a large

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Government extends Help to Buy scheme to allow for coronavirus delays

The Government has announced a small extension to the Help to Buy equity loan scheme to allow for delays caused by coronavirus – but the change falls short of housebuilders’ hopes.

The building deadline for new homes sold through the scheme will be extended by two months, from the end of December 2020 to February 28 2021. But the March 31 2021 deadline for most sale completions remains the same. 

Where necessary, extensions may be granted for homebuyers who have experienced severe delays because of the pandemic and reserved properties before June 30. These buyers will get an extension to

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How China’s influence extends deep into the UK economy

“No economy in the world is as open to Chinese investment as the UK,” declared George Osborne on a visit in 2015. Few Western nations would make such a claim today, but the then-Chancellor was on an unapologetic charm offensive that took him to Beijing skyscrapers, interviews on bullet trains and parades in front of giant red flags. 

Osborne batted away questions over human rights violations while claiming China stood up for free trade. He even touted the expanding global presence of tech titan Huawei as an example of how the ruling Communist party had embraced free market capitalism. 


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Coronavirus latest: Thai government extends state of emergency

The Nikkei Asian Review is tracking the spread of the new coronavirus that originated in the central Chinese city of Wuhan.

Global cases have reached 5,495,061, according to Johns Hopkins University.

The worldwide death toll has hit 346,232.

To see how the disease has spread, view our virus tracker charts:

(Source photo by AP) 

Here are the latest developments (Tokyo time):

Tuesday, May 26

7:42 p.m. The Thai government has decided to keep the kingdom under a state of emergency until June 30. It had been scheduled to end on May 31. This is an expected move by

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