Ukraine war is dramatically dialling up risk of global recession April 5, 2022 The war in Ukraine has dramatically dialled up the risk of a global recession, according to leading economist. The conflict has thrown a ‘massive monkey wrench’ into what was a gradually improving post-pandemic picture, Ira Kalish, chief global economist at Deloitte told delegates at the World Retail Congress in Rome. And it could have damaging, [...]
Ministers offer open banking boost with ‘smart data’ investment April 5, 2022 Ministers threw their weight behind the roll out of open banking technology yesterday as they confirmed a funding injection in the development of so-called ‘smart data’ in financial services.
Zopa bank hits profitability but may push back IPO amid market turbulence April 4, 2022 Digital lender Zopa has announced it hit profitability for the first time ever last year as it eyes up a shift onto the public markets in 2022.
Female workers at Revolut paid 25 per cent less than men April 4, 2022 Revolut, one of the UK’s biggest fintech firms, pays its male workers on average a more than 50 per cent higher bonus than its female employees, it announced today. The company, known for its blue-purple debit card, also pays men a 25.2 per cent higher hourly rate compared to women. For every £1 men are [...]
Crypto the ‘new front line’ for scammers, says Bank of England governor April 4, 2022 The Bank of England's governor has issued a warning about a rising tide of fraudsters using crypto scams to dupe people out of their savings.
JP Morgan to book £762m loss on Russian assets April 4, 2022 Wall Street giant JP Morgan may lose as much as $1bn (£762m) on its exposure to Russia, its chief Jamie Dimon warned today in his annual letter to shareholders. The investment banking titan has been part of a concerted effort by the West’s biggest corporates to ditch Russian assets and pull out of the country [...]
NatWest examines £3bn bid for Tilney Smith & Williamson April 2, 2022 NatWest is reportedly examining a £3bn takeover proposal for UK wealth management powerhouse Tilney Smith & Williamson. Sources told Sky News the bank – which was rescued by the government in 2008 – is among several bidders who will make a play as the high street lender is expected to go on sale within the [...]
BNP Paribas bags majority stake in Dutch asset manager April 1, 2022 BNP Paribas Asset Management has acquired a majority stake in Dutch asset manager and specialist lender Dynamic Credit Group. The deal brings the total assets under management to €20bn for BNP AM’s private debt and real assets investment division. BNPP’s David Bouchoucha said the deal “marks an important step” in the development of the French [...]
UK plans to sanction all Russian nationals would breach equality laws, banks say April 1, 2022 The UK government’s plans to ban Russians from holding more than £50,000 in UK bank accounts are unfeasible, banks have said. Banks have told the government that the sanctions measures put in place in response to Russia’s invasion of Ukraine would breach equality laws, which prevent discrimination on the basis of nationality. The sanctions set [...]
Peel Hunt revenue surpasses expectations despite market slowdown amid war in Ukraine April 1, 2022 Investment bank Peel Hunt has traded ahead of analyst expectations despite a slowdown in activity after Russia’s invasion of Ukraine. Its execution and trading business marked a strong end to the year while its investment banking division marked record revenues. Revenue for the full year is anticipated to stand at around £131m, the City firm [...]