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.
Santander UK rides out interest rate peak but expects further mortgage weakness January 31, 2024 High street lender Santander UK has reported a jump in annual profits as it rode out the end of an interest rate spike, while weakness continued in the mortgage market.
Telegraph’s ‘Harrison Ford’ sale chief locked in bitter legal battle January 31, 2024 An executive parachuted in to oversee the sale of the Telegraph, dubbed the “Harrison Ford of restructuring”, has found himself embroiled in a bitter legal battle between a FTSE 100 private equity firm and one of its portfolio companies, City A.M. can reveal.
Labour: We’ll ‘unashamedly champion’ financial services as party plots rulebook reform January 31, 2024 Labour have promised to reform the City's rulebook to give financial services the support it needs to be competitive on the global stage
Pay floodgates set to open after trade body gives OK to hikes – report January 30, 2024 Fund management trade body the Investment Association has reportedly written to the chairs of FTSE 350 remuneration committees signalling a change in its position on bosses’ pay packages.
Payments watchdog mulling greater powers as Visa and Mastercard ‘run rings’ with fee hikes January 30, 2024 The UK payments watchdog has mulled whether it should have more powers to take firms to court if they refuse to provide information as it faces criticism for not doing enough to clamp down on post-Brexit credit and debit card fees.
HSBC fined £57.4m by Bank of England over historic depositor protection failings January 30, 2024 The regulator said that among its failings, HSBC incorrectly marked 99 per cent of eligible beneficiary deposits as being “ineligible” for protection under the Financial Services Compensation Scheme (FSCS).