High Street bank TSB returns to profit thanks to record mortgage lending January 27, 2022 High street bank TSB has revealed it returned to profit in 2021 thanks to record mortgage lending and a bounce back in the wider economy. The Spanish-owned lender posted annual pre-tax profits of £157.5m against losses of £204.6m in 2020. It comes after TSB notched up its highest-ever gross mortgage lending at £9.2 billion for [...]
Euromoney revenue up 19 per cent as events make comeback and subscriptions rise January 27, 2022 Euromoney Institutional Investor reported a “strong start to the year” as it shifted towards a subscription model and took a blended approach to its events schedule. The B2B information group reported revenue of £93.3m up 19 per cent, buffered by underlying revenue growth in both subscriptions, up eight per cent, making up 67 per cent of [...]
Former Barclays boss Staley pressed JPMorgan to keep Epstein as client January 26, 2022 Former Barclays boss Jes Staley pushed his ex-employer JPMorgan to retain Jeffrey Epstein as a client even though the disgraced financier had been convicted of prostitute offences. Staley pressed the Wall Street giant to keep Epstein before the bank parted with him as a customer in 2013, according to two people close to the situation. [...]
Exclusive: CME crypto futures products a smash hit with investors January 26, 2022 Surging demand for crypto exposure amongst investors has created a bustling futures market according to the Chicago Mercantile Exchange.
For economists, Argentina is the gift that keeps on giving. Is it back to the 80s? January 26, 2022 For economists of a certain age, Argentina is the gift that goes on giving. For the IMF, it is a recurring nightmare. And for investment bankers, who actually bought into Argentina’s 100-year bond issue in 2017, it ought to be a lesson that they are not as smart as they think they are. Come March, [...]
JP Morgan attempts to block fossil fuel proposal from London activist investor January 26, 2022 Activist investor Tulipshare has filed a proposal with JP Morgan to halt its fossil fuel investments – which the Wall Street giant is looking to keep out of its next annual meeting. The London-based startup submitted the proposal in December on behalf of a millennial investor, however, JP Morgan has written to the US Securities [...]
Santander launches buy now pay later product to take on fintechs January 26, 2022 Santander has announced plans to roll out a new buy now pay later platform across its European markets as the bank looks to boost revenues and fight off fintech competition.
Today’s Fed meeting: ‘Officials are behind the curve when it comes to dealing with inflation risk’ January 26, 2022 Markets’ main focus is set to be on today’s Fed meeting, and the messaging that is expected to layout the rate path for the rest of the year, starting with a widely expected 0.25 per cent March rate hike. “Last month’s Fed meeting saw the central bank accelerate its tapering program to $30bn a month, [...]
Credit Suisse beats investment banker in London court as £66m espionage case is thrown out January 26, 2022 A former Credit Suisse banker’s £66m lawsuit was rejected yesterday afternoon as a London court found that the banking giant was under no obligation to protect its former employee from the risk of criminal charges while he was working in Romania. Vadim Benyatov had demanded $89m, or nearly £66m, in lost earnings after a court [...]
Market sentiment driven by events on Russia vs NATO over Ukraine and today’s Fed meeting January 26, 2022 European markets had a slightly more resilient tone yesterday, reversing some of their early week losses, however we still remain below the closing levels of last week, so it might be a little early to sound the all clear so to speak. US markets also saw another rollercoaster session, opening sharply lower, as they looked [...]