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.
Standard Chartered London HQ and global offices targeted by fossil fuel protests April 19, 2022 Standard Chartered has become the latest London-headquartered bank subject to climate change protests, as activists seek to stop investments in oil and gas. The nearly 170-year-old bank is the only bank in the UK facing a shareholder-proposed resolution on climate change at its annual this year. Despite protests erupting outside the British bank’s office in [...]
BNY Mellon disappoints as first quarter revenue slides by a fifth April 18, 2022 US investment bank BNY Mellon reported net profits of $765m in the first quarter, down by 18 per cent compared to the same period last year.
Bank of America beats forecasts with first quarter profits of $7.1bn April 18, 2022 The Bank of America has beat analyst expectations with first quarter revenue of $23.3bn amid strong loan book growth.
Talent wars: New City bankers rake in £63k before bonus April 17, 2022 Entry level banking analysts can now expect a base salary of £63,000 before bonus as the City continue to drive up pack packets for new joiners. According to a report from professional services recruiter Dartmouth and as reported by the Telegraph, this is a jump of more than a quarter on last year figures. Whilst [...]