Credit Suisse hides mobsters, drug traffickers and money launderers’ riches, leak reveals February 20, 2022 Swiss lender Credit Suisse allowed drug traffickers, money launderers and mobsters to hide their money offshore, according to documents leaked yesterday. The trove of documents reveal Credit Suisse kept accounts for a billionaire who ordered the murder of his Lebanese pop star partner and a Hong Kong stock exchange boss jailed for bribery. The leak [...]
JP Morgan under fire for dubious $1.3bn Nigeria oil deal February 20, 2022 A bitter legal dispute between the Nigerian state and banking giant JP Morgan is due to be heard in the UK's High Court this week.
Canary Wharf rolls out flexible offices after pandemic shakes up work habits February 19, 2022 London landlord the Canary Wharf Group is planning to roll out a flexible office service for clients, as the city continues to adapt to the pandemic shakeup to work patterns.
Saturday sitdown: Whistle king Simon Topman on surviving two world wars and a global pandemic February 19, 2022 With businesses around the world managing the Covid pandemic and each facing their own set of challenges, City A.M. caught up with Simon Topman, managing director of 150-year-old ACME Whistles, to blow the whistle on how this pandemic has differed from two world wars and other global disasters. Since inventing and making the first ever [...]
Weekend chat: Traditional methods to tackle £750m fraud tsunami is like taking a knife into a gunfight February 19, 2022 From scam phone calls, text messages and emails, fake websites, falsified documents and fake insurance claims, fraud has become big business – and a big problem. In the first half of 2021, criminals stole a total more than £753m million through fraud, an increase of 30 percent compared to the first half of 2020, according [...]
Natwest reveals £1bn cut in lending to oil and gas sector February 18, 2022 NatWest cut lending to the oil and gas sector by 21 per cent in 2021, with the bank pushing to decarbonise its loan book and hit net zero.
Parliament renovation halted by shock asbestos exposure February 18, 2022 Renovation work at the Houses of Parliament has reportedly been stopped after staff were exposed to asbestos.
Turn around for Natwest as bank returns to profitability February 18, 2022 Natwest has returned to profitability after suffering heavy losses in 2020, with results boosted by strong savings and lending growth.
Ex-Goldman banker says he became a ‘hero’ for 1MDB deals, after embezzling billions from Malaysian government February 17, 2022 A Goldman Sachs banker, who made almost $700m (£515m) through his involvement in the 1MDB scandal, has said “greed and ambition” motivated him to embezzle billions from the Malaysian government, while testifying against Roger Ng, his former Goldman Sachs colleague. Speaking at a Brooklyn Court, Tim Leissner, the former head of Goldman’s Southeast Asia division, [...]
Standard Chartered unveils share buy-back and ramps up bonuses as profits rebound February 17, 2022 International banking group Standard Chartered reported a rebound in profits to $3.9bn today and announced a $750m share buy-back as it begins to recover from a pandemic slump.