Treasury grants licence to pay contracts for Russia’s Gazprombank until May 31 April 22, 2022 The treasury has granted a licence to pay Russia’s Gazprombank and its subsidiaries until the end of next month. The decision was made to ensure gas supplies continue to flow to the European Union according to a document seen by Reuters. The license allows an individual or firm to continue paying any contracts that began [...]
UK regulators order JP Morgan to review risk management April 21, 2022 A UK regulator has instructed JP Morgan to review its approach to risk management amid a crackdown on reporting procedures of banks.
Former BNP Paribas banker denies terrorising colleagues during $4m employment tribunal April 21, 2022 A former BNP Paribas banker has denied terrorising his colleagues, after filing a $4m (£3m) lawsuit against the financial firm. Former BNP Paribas exec Omar Alami is seeking $4m in compensation for unfair dismissal, after he was fired for humiliating his co-workers in 2019. The ex-head of equity derivatives sales denied “insulting” his colleagues, [...]
Exclusive: Sun European’s managing director on private equity deal-making in the City post-pandemic April 21, 2022 Time for City A.M. to catch up with investment veteran and City insider Mark Corbidge, managing director and a member of Sun European’s Investment Committee.
Bank of America bets on Singapore as Hong Kong curbs lead to ‘brain drain’ April 21, 2022 Bank of America is reportedly shifting some of its dealmakers from Hong Kong to Singapore, as Beijing’s touch stance of Covid-19 muddies the water in the financial hub. Dominic Tan, co-head of Asia consumer and retail investment banking, and Anastasios Pefanis, who head’s the equity capital markets syndicate in the Chinese city, are among top [...]
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.