‘FCA is not fit for purpose’: Motor finance lender bosses lash out November 20, 2024 Motor finance lender executives criticised the FCA performance of this sector, telling members of the Lords that the regulator is "not fit for purpose"
Investment bank Cavendish to open Manchester office after signing Gary Neville deal November 20, 2024 Investment bank Cavendish, which was formed through the £43m merger of Cenkos and Finncap last September, has revealed plans to expand into Manchester for the first time. The City of London investment bank has appointed Oliver Tebbutt as partner to lead the office. Tebbutt was previously a partner at Deloitte’s corporate finance team in Manchester. Cavendish will [...]
Revolut set to take on Hargreaves Lansdown after winning trading licence November 18, 2024 Revolut is set to allow customers to buy UK-listed stocks on its platform from next year after winning a trading licence from the City watchdog. In an announcement today, Europe’s most valuable fintech said it had been authorised by the Financial Conduct Authority to allow UK customers to trade British and EU-listed stocks and exchange-traded [...]
HSBC asks managers to reapply for jobs in global cost-cutting drive November 18, 2024 HSBC is forcing managers in its newly formed corporate and institutional banking arm to reapply for their jobs as part of a sweeping cost-cutting drive, according to reports. Hundreds of managers have been asked to interview for their roles as the lender merges its corporate and investment banking businesses in a seeping restructuring plan, unveiled [...]
Former fintech ‘unicorn’ Truelayer laid off a quarter of staff in one day November 15, 2024 Former fintech ‘unicorn’ Truelayer laid off roughly a quarter of its workforce in a single day as part of an effort to slash costs and become profitable, City AM can reveal. The London-based firm axed 71 roles at the end of September a week before announcing a $50m funding round that lowered its valuation, according [...]
UK M&A set for ‘sustained increase’ after Budget and Trump victory November 14, 2024 British M&A activity is expected to ramp up going into 2025, City advisers have said, as dealmakers feel more certainty following the Budget and US presidential election.
Motor finance: The legal battles are only just beginning November 13, 2024 The legal troubles for banks and lenders may widen says a lawyer, following the success of the landmark Court of Appeal decision last month.
UK banks could limit buybacks as car loan scandal grows November 13, 2024 Some UK banks could be forced to reduce upcoming investor payouts, analysts have warned, as the Financial Conduct Authority mulls whether to expand a probe into now-banned car loan deals.
Monzo warns customers their accounts may not be as secure as possible November 13, 2024 Online challenger bank Monzo has issued a warning to customers that their accounts may not be as secure as possible. The bank has urged customers to upgrade their phone’s operating system by 31 October, 2025, when it will stop sending updates to its app on systems older than iOS 16 and Android 9. Monzo added [...]
Lloyds to replace senior staff’s union negotiations with ‘people forums’ November 13, 2024 Lloyds Banking Group is to stop recognising the trade union membership of some senior employees by replacing union negotiations with so-called “people forums”.