Global banking bigwigs slapped with millions in fines for FX rigging Some of the world’s largest banks were today slapped with millions of pounds in fines for their role in rigging foreign exchange markets. HSBC, Barclays, Credit Suisse and NatWest were each reprimanded by the European Commission for having employees on their books that created a cartel that spiked currency markets. HSBC was hit with the [...]
WTO countries ink deal to cut red tape for services firms The UK is one of 67 countries to sign up to a new World Trade Organisation (WTO) pact to cut red tape around licensing and qualifications for services firms. The deal – signed by countries like the UK, US, China, Russia, Japan, Germany, France and Canada – aims to increase transparency and efficiency for services [...]
HSBC boss warns costs will soar if Brexit fragments European financial market post-brexit The boss of the UK’s largest bank has warned banks and their clients will have to swallow higher costs if Brexit fragments the European financial market. Speaking at the Financial Times’s Global Banking Summit, Noel Quinn, chief executive of HSBC, said there is a real “risk of fragmentation increasing costs” in the banking sector. Several [...]
Over half of Brits in the dark over their credit score December 2, 2021 A survey has revealed that 51 per cent of Brits do not know their credit score even though many are aware of its importance.
Is the “Santa Rally” real? December 2, 2021 Investors found their festive spirits in 2020 despite a raging pandemic. Even with most of the global economy shut due to Covid-19, US stocks recorded their best December monthly return in over a decade, with the Ibbotson SBBI US Large Cap index returning 3.8%. It was the second year in succession that US stocks have [...]
Exclusive: LV= CEO Mark Hartigan on the controversial £530m takeover by Bain Capital, ten days ahead of the vote of his life December 1, 2021 Last week, Liverpool Victoria (LV=) , the 178-year old mutually owned life insurance and pensions provider, turned down an improved offer from its competitor Royal London, which had proposed dismantling the business. The development came amid increasing criticism over a £530m proposed takeover of LV= by Bain Capital, as non-profit members would receive just £100 [...]
Liontrust reveals roaring interim results as pre-tax profits jump 352 per cent December 1, 2021 Asset manager Liontrust saw profits soar in the first half of the year with assets under management now totalling £36.5bn.
‘Cash machine at the till’ for withdrawals up to £50 coming to thousands of shops across the UK December 1, 2021 People can soon withdraw up to £50 in notes and coins in smaller shops without having to buy anything. A scheme enabling people to get cash from retailers’ tills without needing to make a purchase is to be rolled out to more than 2,000 shops before the end of the year. Cash machine network Link [...]
Crypto could give London a unique post-Brexit advantage says Hammond December 1, 2021 Ex-Chancellor Philip Hammond said the UK must move quickly on digital assets to secure its post-Brexit advantage in financial services.
Kin + Carta Chairman John Kerr CA on becoming the first London-listed B-Corporation December 1, 2021 This article first appeared in ICAS’ CA magazine. Kin + Carta helps clients undergo digital transformation. But, crucially, its strong ethical underpinning means it’s set to become the first London-listed B-Corp. Chairman John Kerr CA explains why it’s blazing the trail. Kin + Carta describes itself as a transformative business. At first glance, this refers to [...]