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  Bank of England says banking system requires a contingency plan of £10bn to ward off the threat of bad debt. Banking system needs £10bn contingency plan to ward off the risk of bad debt. Britain’s banks could incur £30bn of losses on their lending on credit cards, personal loans and for car finance if interest rates and unemployment rise sharply, the Bank of England warned on Monday. After assessing the fast growth in the consumer credit market, Threadneedle Street is requiring the banking system to hold an extra £10bn of capital as protection against any future losses after finding that lenders are underestimating their exposure to bad debts in an economic downturn. Publishing its latest assessment of risks to the financial system, the Bank of England also spelt out specific conc...

    Dr Nasser Kurdy suffers stab wound in neck while arriving for evening prayers at Altrincham mosque. Altrincham’s Islamic centre Police said they are treating the attack as a hate crime and confirmed they have arrested two men, aged 54 and 32. Sunday 24 September 2017 22.53 BST Last modified on Sunday 24 September 2017 23.54 BST A man has been stabbed outside a mosque in Greater Manchester in an incident that police are treating as a hate crime. The victim, named locally as Dr Nasser Kurdy, an orthopaedic surgeon and imam, was reportedly arriving at the Altrincham Islamic centre, Grove Lane, for evening prayers at 6pm when someone stabbed him in the neck from behind. A friend of the victim told the Manchester Evening News that he had suffered a non-critical 3cm stab wound w...

    Emergency services in Charles Street, Blackpool after a gas explosion at a guest house. Two people have been injured, one seriously, after a gas explosion ripped through a guest house burying them under rubble. Firefighters had to sift through the debris to reach the man and woman trapped by the blast on Charles Street in Blackpool, shortly before 6pm on Saturday. A witness to the explosion described how parts of the property just disappeared into the street. Specialist rescue equipment was used to free the pair who were taken to hospital. One was reported by the ambulance service to have suffered major trauma injuries. A number of people were also treated by paramedics at the scene. A spokesman for Lancashire Fire and Rescue Service (LFRS) said six engines attended the sc...

    A Director of the United Kingom’s National Cybersecurity Centre warned that a category one cyber attack the most severe variety of attack possible is likely to happen within the next few years, the Guardian reported. The siren for the potentially devastating attack was sounded by Ian Levy, the technical director of cyber focused branch of the UK’s Government Communications Headquarters (GCHQ) while speaking this week at an event hosted by cybersecurity firm Symantec. Sometime in the next few years we’re going to have our first category one cyber incident, Levy said, noting that such an event would require a national or international governmental response in order to deal with the fallout and response to the attack. Such an attack has not yet been seen. The National Cyberse...