Barclays sells off half of Absa stake for £526m April 21, 2022 Barclays announced today it has sold off a major chunk of its remaining stake in South African banking group Absa for £526m as it continues to shed its holdings in the firm.
Brexit: Rees-Mogg wants UK to look at easing capital requirements for banks April 21, 2022 Jacob Rees-Mogg has said the UK must consider easing requirements on how much capital that banks need to hold in reserve in order to survive economic shocks. The Brexit opportunities minister told MPs today that the government “ought to look” at easing the capital requirements for the banking sector, which were brought in after the [...]
Bank of England ups budget by £24m to tackle crypto risks April 20, 2022 The Bank of England is expanding its budget by £24.3m as it seeks to tackle risks associated with crypto assets.
‘Crazy war’: Sanctioned Russian banking billionaire urges West to give Putin ‘a clear exit to save face and stop this massacre’ April 20, 2022 Vladimir Putin’s “crazy war” has been condemned by sanctioned Russian tycoon Oleg Tinkov, who said 90 per cent of people disagree with it. The founder of the country’s second biggest credit card issuer took to Instagram to criticise the authoritarian president and the Kremlin’s brutal assault on Kyiv. Tinkov, who has lived in the UK [...]
Credit Suisse warns of first quarter loss as legal costs surge April 20, 2022 Beleaguered Swiss lender Credit Suisse warned it was careering towards a loss in first quarter earnings after legal costs surged and the Russia-Ukraine crisis hit the bottom line, the firm announced today.
UK listed firms must have at least one woman in a senior position, City watchdog says April 20, 2022 The boards of UK listed companies should employ at least one non-white board member and one woman in a senior role, according to new diversity targets put forward by the Financial Conduct Authority (FCA). Two-fifths of board members should be women, and at least one senior board position – including chief executive, chair, or chief [...]
Buyout giants rule out backing Musk bid as takeover interest heats up April 20, 2022 A host of buyout giants have ruled themselves out of backing Elon Musk’s hostile takeover of twitter over concerns the tech giant cannot boost its profitability.
Russia’s Gazprombank requests $288m repayment from gold producer Petropavlovsk April 20, 2022 Russian gold producer Petropavlovsk has received a request from Gazprombank for an immediate repayment of $288.1m. Gazprombank, which has been heavily sanctioned by the UK government amid the war in Ukraine, has demanded repayment of some $201m for a term loan. The company has also requested repayment of approximately $87.1m, due under the group’s Russian [...]
Deliveroo bosses face prison sentences following worker status abuse April 19, 2022 Two former Deliveroo bosses were handed suspended one-year prison sentences by a French court this morning after abusing the freelance status of riders working for the takeaway delivery firm. They were also fined €30,000, with the company receiving the maximum penalty of €375,000. A Deliveroo spokesperson said that whilst it “categorically rejects this judgement”, they [...]
Cough up cash for small suppliers TSB tells rivals April 19, 2022 High street lender TSB has called on rivals Co-Operative Bank and Metro Bank to speed up supplier payments after data found the banks are among the worst culprits for paying suppliers late.