Ex-Deutsche Bank traders have Libor convictions overturned January 28, 2022 A US court has thrown out convictions of two former Deutsche Bank traders for rigging Libor, a key financial benchmark.
Businesses brace for insolvency storm as Covid aid winds down January 28, 2022 Over half a million UK businesses are struggling financially amid soaring inflation and the rollback of government Covid-19 support.
Paragon Banking Group sees ‘strong’ start to the year amid lending surge January 28, 2022 Paragon Banking Group saw lending surge in the latest quarter, with the challenger bank praising a "strong" performance.
Tugendhat: UK must block Russian access to the City to help stop Ukraine war January 28, 2022 The UK must get tough and block Russia from the City of London’s vast web of financial services if it is to help stop an invasion of Ukraine, senior Tory Tom Tugendhat has said. The Foreign Affairs Committee chair writes in City A.M. today that Boris Johnson should “close down the options that allow” Vladimir [...]
Banks say FCA is hindering innovation: Watchdog not responding quick enough to tech trends January 28, 2022 Two thirds of all UK banks and financial institutions think the City regulator, the FCA, is not responding quickly enough to new trends, thereby hindering innovation within the sector. When quizzed about the roadblocks they face, more than half said they have been held back from trialling new technologies due to a lack of formal [...]
Mastercard revenue inches past forecasts as travel spending makes a comeback January 27, 2022 Mastercard had its revenue inch past analyst forecasts over the past three months, as travel spending on its cards returns to pre-pandemic levels. Beyond a spike in international travel spending, which had been weighed down by the Omicron wave which began late last year, domestic spending also rose in its fourth quarter. Cross border volumes [...]
Deutsche Bank posts best profits in a decade in sea change for ailing lender January 27, 2022 German banking giant Deutsche Bank smashed expectations to deliver its best profits for a decade, the lender announced today. Rampant global deal making driven by investors and firms rushing to deploy a wave of idle cash to snap up companies boosted Deutsche Bank’s bottom line. Profits climbed more than fourfold over the last year to [...]
Post-Brexit boost for the City as London takes top spot in global financial powerhouse rankings January 27, 2022 London continues to hold the top spot for financial and professional services in terms of overall offer when compared to other global destinations, including New York, Singapore, Hong Kong, Paris and Frankfurt, according to new figures published this morning. London received an overall competitiveness score of 61, followed by New York (58) and Singapore (53). [...]
Starling Bank and Barclays in the race to carve up Kensington January 27, 2022 Digital challenger bank Starling and Barclays are among the names looking to snap up a piece of mortgage lender Kensington after its private equity owners put the firm up for sale last year, according to reports. Starling is reportedly up against Barclays and another high street lender to buy Kensington’s lending platform, while american investment [...]
St James’ Place boosts inflows by £4.69bn in latest quarter January 27, 2022 Wealth manager St James' Place has beaten expectations, ending the year with a record £154bn of assets under management.