Crypto crash could threaten global financial stability, ECB warns May 24, 2022 A continued sell-off frenzy in crypto could threaten the stability of global financial markets, the European Central Bank has warned today.
Editorial: HSBC brouhaha should kick off a worthwhile ESG debate May 23, 2022 It is ironic that in a speech criticising hyperbole, the now-suspended HSBC Head of Responsible Investing Stuart Kirk went to some effort to out-hyperbole even those who he sought to lambast. As a former journalist, Kirk will surely have known that criticising alarmist “nut jobs” was unlikely to do anything but stir a hornet’s nest. [...]
US lawyer pulls out of Hong Kong government forum after activists brand it a ‘propaganda event’ May 23, 2022 The head of US law firm Davis Polk’s Asia division has pulled out of speaking at a Hong Kong government forum commemorating the coming into force of the city-state’s controversial national security laws, after pro-democracy activists branded it a “propaganda event”. In a post on Linkedin, Martin Rogers, the chair of Davis Polk’s Asia business, [...]
Hong Kong stock exchange to open US and Europe offices May 23, 2022 The Hong Kong stock exchange is planning to set up two new international offices in the US and Europe, in an effort to draw overseas investors back to the City state. Speaking to the South China Morning Post (SCMP) at Davos, Nicolas Aguzin, the head of Asia’s third largest stock market, said the new offices [...]
Fintech lender Creditspring bags £48m to keep up with cost-of-living borrowing boom May 23, 2022 London fintech lender Creditspring has revealed a £48m cash injection today as it looks to meet a surge in demand as consumers turn to credit amidst a cost of living crunch.
‘Brexit is a mistake and London will be damaged’ warns Sir Howard Davies as NatWest chair claims ‘Boris Johnson hates the Treasury May 23, 2022 SIr Howard Davies, the chairman of banking giant NatWest, has called Brexit ‘a significant mistake’ as the City grandee said he is not very optimistic about the future of the UK. In fact, Sir Howard said he is concerned about the long-term impact Brexit will have on the City of London. In an interview with [...]
Allica set for profitability this year after loan book swells to £560m May 23, 2022 UK business lender Allica Bank said it is set to hit profitability for the first time this year after its loan book ballooned to £560m in 2021.
Sunak poised to give poorest households £5-7.5bn to deal with cost-of-living crunch, Deutsche Bank says May 22, 2022 Deutsche Bank has said it expects the UK’s Chancellor of the Exchequer Rishi Sunak will give £5-7.5bn in support to the UK’s poorest households to help them deal with the UK’s cost-of-living crisis. The chancellor could increase universal credit payments, give money to food banks, and help poor households pay for energy bills, in a [...]
HSBC suspends sustainable investing chief over climate change comments May 22, 2022 Bosses at HSBC have scrambled to distance themselves from the firm’s sustainable investing chief after he questioned the need for investors to worry about climate change and asked “who cares if Miami is six metres under water in 100 years?”
Atom Bank eyes US IPO in major snub to London May 22, 2022 UK digital lender Atom Bank is eyeing up a US listing in what will be a major blow to London’s efforts to promote itself as a premier destination for tech IPOs.