FCA warns insurers to stop undervaluing cars when settling claims March 27, 2024 The Financial Conduct Authority (FCA) has issued a fresh warning that some insurance firms may be undervaluing written-off or stolen vehicles when settling claims.
UBS seals deal to sell $8bn in loans to Apollo as it presses on with Credit Suisse integration March 27, 2024 UBS and private equity giant Apollo Global Management have finalised a deal to sell $8bn worth of Credit Suisse's securitised products as the bank winds down non-core businesses of its former rival after acquiring it last year.
Vanquis Bank swings to annual loss and slashes dividend after jump in impairment charges March 27, 2024 Vanquis Banking Group has swung to an annual loss and slashed its dividend after the specialist lender saw a jump in impairment charges, following a profit warning for 2024 earlier this month.
Buy now, fail later? Banks struggle to cash in on Klarna’s success March 27, 2024 Natwest recently confirmed it would axe its buy-now pay-later scheme. Industry experts suggest the move could be a sign of things to come as traditional lenders struggle to gain a foothold in the market.
Bank fraud helpline hits 99 per cent coverage as Monzo bolsters efforts March 26, 2024 The banking industry's answer to 999 now covers nearly all UK current accounts after Monzo joined the anti-fraud service, with the digital lender facing criticism for its performance on tackling scams.
The Co-operative Bank to slash 400 jobs in cost-cutting drive March 26, 2024 The Co-operative Bank has announced that it plans to cut around 400 jobs as the lender looks to reduce costs.
CAB Payments: Fintech’s earnings hit by currency policy shifts after disastrous London float March 26, 2024 Fintech CAB Payments' earnings have been hit by "unforeseen central bank interventions" as the firm looks to draw a line under a year which saw it become one of London's biggest stock market flops.
UK government no longer a controlling shareholder in Natwest after taking stake below 30 per cent March 25, 2024 Taxpayers paid £45.5bn for the bailout but have lost out as Natwest’s share price has halved since then.
Wise poaches Delivery Hero finance chief as customers swell and competition intensifies March 25, 2024 Money transfer firm Wise has appointed Delivery Hero's chief financial officer Emmanuel Thomassin to be its new CFO as the company sees a surge in customer numbers and rising competition.
Oaknorth posts jump in profit as challenger bank targets US expansion and mulls public listing March 25, 2024 Challenger bank Oaknorth has posted a jump in annual profit on the back of higher lending and an expansion into the US as it looks forward to a potential IPO.