JP Morgan snaps up stake in Greek fintech Viva Wallet January 25, 2022 JP Morgan has snapped a 49 per cent stake in Athens-based payments fintech Viva Wallet, the firm announced today.
Ukraine: Starmer calls for UK to block Russian access to City of London January 25, 2022 The UK must block Russia from the City of London’s web of financial services firms if it invades Ukraine, Sir Keir Starmer has said. The Labour leader said Boris Johnson must make “tough decisions” when drawing up potential sanctions against the Kremlin, including “cutting Russian access to the international financial system” and stopping the “illicit [...]
Data experts team up with Google, Microsoft and Mastercard for new UK post-Brexit govt council January 25, 2022 In order to boost cross-border data flow and trade post-Brexit, the government has set up a new council that comprises of a group of data experts from industry giants and academia. The International Data Transfer Expert Council will include representatives from the likes of Google, Mastercard and Microsoft when it meets for the first time [...]
UK financial watchdog to beef up consumer protections January 25, 2022 The Financial Conduct Authority (FCA) has said it will take "assertive action" against firms seeking to limit compensation for customers.
Credit Suisse issues profit warning amid rising legal fees January 25, 2022 Credit Suisse has warned of losses in the fourth quarter as a result of mounting litigation costs and a slowdown in investment activity.
Treasury minister quits over government’s ‘lamentable’ Covid fraud record January 24, 2022 A Treasury minister resigned today over the government’s “lamentable” record on Covid fraud, after billions were stolen from Covid support schemes. Lord Theodore Agnew – previously responsible for government efficiency – said oversight of the Covid loan schemes by the Department of Business, Energy and Industrial Strategy (Beis) and the British Business Bank had been [...]
City boom: Banks launch record recruitment drive… yes, despite Brexit January 24, 2022 The City’s banking jobs market is booming in a sign that London is scuppering bets laid on Brexit hitting its attractiveness, reveals a fresh study released today. UK banks have never been looking to hire this many staff, with vacancies in the sector skyrocketing 129 per cent over the last year, according to research carried [...]
Bumper year for shareholders as UK dividends rebound to hit £94bn January 24, 2022 Shareholders enjoyed bumper payouts last year as dividends rebounded from a pandemic slump to hit £94.1bn, new figures have revealed.
Staley Barclays successor Venkat given £6,500 a month to move to London January 23, 2022 The banker that was swooped in to lead Barclays after the lender’s former chief executive Jes Staley quit has been given £6,500 a month to cover the cost of moving to London for around two years. CS Venkatakrishnan, known as Venkat in the City, was parachuted into Barclays after Staley left the British banking titan [...]
Nation of hungry entrepreneurs: Two in three UK employees plan to launch their own business January 22, 2022 A record two in three British employees plan to start their own business at some point in the future, a jump of more than 10 per cent compared to a year ago, according to new data shared with City A.M. this morning. In fact, one in ten Brits don’t want to wait and plan to [...]