With an average claim in excess of £50k, it really is time to see if you qualify for an R&D Tax rebate January 23, 2023 | Sponsored What are Research and development tax credits? Simply put R&D Tax Credits are a niche, but a lucrative part of the UK tax code that could bring your company significant tax relief. Most companies we speak to at SAS R&D don’t think that they will qualify for these payments with the common misconception amongst business [...]
Private finance firms have fewer women leaders than listed rivals, new research shows January 23, 2023 Financial services companies that are structured as privately-owned partnerships have significantly fewer women in leadership positions than their publicly-listed rivals, new research shows. Fewer than one-sixth (15.1 per cent) of partners in privately-owned finance firms are women, according to research from employment law firm Fox & Partners. By comparison, women account for 43 per [...]
Bankers switching firms trouser more than 20 per cent pay bump January 23, 2023 City bankers, brokers and insurers switching to a rival firm trousered a more than 20 per cent pay bump last year, new research out today shows. The Square Mile’s best and brightest are switching companies in a bid to capitalise on rapid wage inflation in the financial services sector. According to recruiter Morgan McKinley, the [...]
Banks called on to extend pandemic era support to vulnerable customers as cost of living pressures mount January 22, 2023 British banks are being called on to extend support offered to customers during the pandemic as the cost of living crisis increasingly affects vulnerable customers. A new report from Fair4All Finance – a government-backed financial inclusion body – found that “unprecedented” support from banks significantly helped customers during Covid-19 with “no detrimental impact on bottom [...]
UK’s Supreme Court to decide whether £1.6bn Tuna Bonds case should be heard in London’s courts January 22, 2023 Britain’s top court will this week hear a long-running dispute between Mozambique and a Lebanese shipmaker over whether a case relating to the ‘Tuna Bonds’ should be heard in London’s courts. The UK’s Supreme Court will decide whether the dispute between shipping company Privinvest and the Republic of Mozambique over the $2bn (£1.6bn) scandal should [...]
Activist shareholder Caius Capital takes five per cent stake in embattled Metro Bank January 22, 2023 London-based activist shareholder Caius Capital has taken an £11m stake in embattled challenger bank Metro Bank. The investment brings Caius Capital’s stake to five per cent, making it one of Metro Bank’s ten largest investors. The stake from Caius Capital, an alternative investment manager focused on “distressed and special situations”, comes a month after Metro [...]
Financial crime: Anti-money laundering and crypto fines surge to £4bn in regulatory crackdown January 22, 2023 Anti-money laundering fines globally surged 53 per cent in 2022 while fines to crypto firms rose over 90 per cent as regulators cracked down on financial misconduct, data from Fenergo shows. In total, financial institutions were fined nearly $5bn (£4.04bn) in 2022. According to Fenergo’s financial crime policy manager Rory Doyle, the jump was linked [...]
Where are Lloyds and Halifax closing 40 branches in 2023 and what does the high street exodus mean for you? January 20, 2023 Lloyds Banking Group said it will close a further 40 branches this year, as the exodus of banking branches from Britain’s high streets continues. Lloyds will close the doors at 22 branches while there will be 18 closures at Halifax. The branches will be closed between April and June this year. The bank noted that [...]
Close Brothers share price falls as sets aside £90m for legal loans January 20, 2023 Close Brothers will set aside an additional £90m in its 2023 financial statements against bad loans from legal-finance specialist Novitas Loans. Close Brothers acquired Novitas in 2017. In 2021 Close Brothers ceased approval of new loans from Novitas and let existing loans run off. In a statement today, the merchant banking group said Novitas was [...]
Davos round-up: BoA ‘over-achieved’ on hiring, Morgan Stanley’s succession plan and Shapps searches for Britain’s Silicon Valley January 19, 2023 As some of the world’s most important CEOs, politicians and thinkers gather at the World Economic Forum in Davos, City A.M. wraps up some of the top lines from the day. US bank layoffs Major Wall Street lenders have been forced into making large scale redundancies in the face of a global economic slowdown. Goldman’s [...]