Santander and Lloyds reportedly helped Iran-backed oil firms evade UK sanctions February 5, 2024 The Financial Times reported that both Lloyds and Santander provided accounts to British front companies owned by Petrochemical Commercial Company (PCC).
Prosecutions fail to keep up with the UK’s growing ‘fraud epidemic’ February 5, 2024 The UK government has been urged to do more to crack down on fraud after new data showed the number of high-value criminal cases reaching the courts has stayed flat despite a sharp rise in fraud.
Week ahead: BP’s strategy under new chief, UBS’ Credit Suisse integration update February 4, 2024 Markets are bracing for full-year results from BP and UBS this week, while several regions will release data on the performance of the services sector.
Cashplus boss: More challenger banks to go up for sale as big lenders see ‘brain drain’ February 3, 2024 The consolidation of mid-sized challenger banks will likely ramp up in 2024, the chief executive of digital bank Cashplus has told City A.M.
Supersize vapes and fake designer goods seized in £55k raid on Oxford Street candy store February 1, 2024 Illegal supersize vapes, fake designer mobile phone covers and sweets with additives banned in the UK were among items seized by London law enforcement following a £55k raid on one of the West End’s American Candy Stores.
Deutsche Bank slashes 3,500 jobs in £1.4bn cost-cutting effort February 1, 2024 Deutsche Bank is set to cut 3,500 jobs in an attempt to save €1.6bn (£1.4bn), as the bank has reported a fourteen per cent drop in profits. The bank is understood to have about 6,000 employees in London out of over 90,000 globally, meaning if job cuts were spread evenly, the UK would see around [...]
TSB Bank proposes £120m payout for owner as it sees record profits February 1, 2024 TSB Bank has recommended a £120m award to its Spanish parent company as it reported a jump in annual profits on the back of high interest rates, despite a rise in impairments amid “economic uncertainty”.
The Notebook: Fascinating insights from Blackstone’s co-founder Stephen Schwarzman February 1, 2024 Rachel Reeves has now promised not to reimpose the cap on banker’s bonuses that was finally removed by the Government last year.
Banks facing squeezed margins? ‘Fetch me a smaller violin’, Treasury committee chair says February 1, 2024 Following pressure from the Treasury Committee, the Financial Conduct Authority (FCA) intervened over the summer, prompting high street banks to offer better rates. All over? Not exactly.
Even Russia’s central bank is ‘surprised’ as country’s lenders post record profits January 31, 2024 Russian banks posted record profits in 2023 in news that surprised even the country’s own central bank, showing how the state is weathering Western sanctions over the war in Ukraine.