HSBC to book $1bn earnings hit from sale of business in Argentina April 9, 2024 HSBC has agreed to sell its Argentina business in a move that will see the bank book a $1bn (£800m) pretax loss in its first-quarter earnings.
Barclays launches legal challenge over motor finance claim April 8, 2024 Barclays is launching a legal challenge against the Financial Ombudsman Service (FOS) over a ruling that it unfairly paid commission to a car finance broker, Sky News’ Mark Kleinman first reported. In January, the Financial Conduct Authority (FCA) announced it was launching a probe into historic commission arrangements dating back to 2007, when the FOS [...]
JPMorgan chief Jamie Dimon warns of ‘stickier inflation and higher rates’ as markets trim Fed bets April 8, 2024 Jamie Dimon, the long-serving chief executive of JPMorgan Chase, has warned that higher government spending could result in stickier-than-expected inflation and higher interest rates in the US.
Santander UK to quit lending standards body over risk of regulatory confusion April 8, 2024 Santander UK is terminating its membership of a major lending standards body to avoid confusion over the duplication of voluntary and regulatory industry standards.
RBC fires finance chief over secret relationship with employee who enjoyed promotions and pay rises April 7, 2024 Royal Bank of Canada, the country's largest bank, has fired its chief financial officer after finding that she was in a secret personal relationship with another employee who received promotions and pay rises as a result.
Should you buy NS&I’s British Savings Bonds or Premium Bonds? April 6, 2024 As the government launches its much-touted British Savings Bonds, City A.M. asks whether the product is worth investing in over Premium Bonds.
London markets will be ‘dead’ if rate of decline continues, warns Peel Hunt chief April 5, 2024 Steven Fine, who heads the mid-tier investment bank and broker, fired a warning shot to the market today over the dearth of IPO activity and speed of firms delisting.
Clearbank reports first annual profit as deposits double and customers boom April 4, 2024 Clearbank has posted its first annual profit on the back of growth in fees, customers and deposits as its clients attracted business with competitive interest rates and sought security following high-profile bank failures last year.
Bunq becomes first EU neobank to report annual profit after surge in users and interest rate boost April 4, 2024 Dutch mobile banking firm Bunq has become the first EU neobank to report an annual profit as it gears up to re-enter the UK market and mulls an IPO.
Tom Hayes and Carlo Palombo: Leading politicians say ex-bankers’ rate-rigging appeal should go to Supreme Court April 3, 2024 Three senior politicians have called for two ex-bankers jailed for rigging interest rates to have their appeal heard by the Supreme Court.