UBS swings to bigger-than-expected £637m loss after costly Credit Suisse integration November 7, 2023 The Switzerland-based bank posted a net loss of $785m £637m) in the third quarter, significantly higher than the $444m analysts polled by Reuters had forecast.
Revolut in talks to move headquarters to Canary Wharf landmark November 6, 2023 Fintech Revolut is in negotiations to relocate its headquarters to a more central area of Canary Wharf, according to reports, in what could be a boost for the struggling financial district.
Structural hedges: Banks’ secret weapon to capitalise on high interest rates November 6, 2023 The UK’s major listed banks are set to reap the benefits of higher interest rates for years to come thanks to the impact of structural hedging, according to analysts.
Watchdog sorry for suggesting ex-Natwest boss Rose broke data rules over Farage ‘debanking’ scandal November 6, 2023 The UK's data watchdog has apologised to former Natwest chief executive Dame Alison Rose for suggesting that she was personally under investigation for breaching data rules in a "debanking" scandal involving Nigel Farage.
Natwest upgrades AI chatbot to provide ‘human interaction’ amid branch closures November 6, 2023 Whereas Natwest's original Cora was a basic question-and-answer bot, the updated version will use “generative” AI, similar to ChatGPT.
CAB Payments shareholders feel misled over risks after flop float November 6, 2023 RC Brown and Polar Capital, two investment funds, are understood to be among those alleging that the risks in CAB’s West African markets were not fully disclosed.
Monzo dives into insurance with London insurtech star at the helm November 6, 2023 Founder of digital insurance brand Brolly, Phoebe Chibuzo Hugh, has announced that she has joined digital challenger bank Monzo to lead its expansion into the insurance sector.
Mortgage growth set to reach decade low as high rates drive down demand November 6, 2023 The EY Item Club predicted that net mortgage loans would grow 1.5 per cent in 2023 and two per cent in 2024, representing the lowest two-year growth in a decade.
Natwest share price slump casts doubt on privatisation plans November 5, 2023 Shares currently sit at £1.87, down from around £5 when the government acquired an 84 per cent stake in the bank during the financial crisis.
Lenders jostle for a slice of the ‘innovation economy’ after SVB’s collapse November 5, 2023 A number of banks are stepping up their operations to take a chunk of the UK's fast-growing 'innovation economy', prompted by the implosion of Silicon Valley Bank (SVB) earlier this year.