JP Morgan hits record annual profits despite fourth quarter slowdown January 14, 2022 JP Morgan has reported record annual profits today despite a slowdown in its trading business and rising costs biting into into fourth quarter profit margins. Profits for the full year hit a record $48.3bn, but the final quarter of the year saw a dip to $10.4bn, a 14 per cent fall on the previous year. [...]
Switzerland steps up CBDC efforts as UK sounds alarm January 13, 2022 As countries worldwide step up CBDC efforts legislators are divided over the risks posed by the new digital currencies.
Starling Bank tops customer experience ranking as demand for digital banking booms January 13, 2022 Starling Bank has topped a list of the UK’s best customer experience companies.
‘The time is now right’: NatWest creates new digital team in blockchain push January 13, 2022 Natwest has launched a new digital team within its capital markets business to expand the bank's use of blockchain technology.
Westminster unconvinced by Britcoin, reveals report January 13, 2022 Peers remain unconvinced of the benefits of Britcoin, an electronic version of the pound backed by the central bank, according to a report.
Morgan Stanley to boost bonuses for top performers as M&A boom continues January 12, 2022 Morgan Stanley will boost the bonuses of its top-performers by 20% with M&A bankers in line for bumper payouts, according to news reports.
UK households face biggest decline in available cash for eight years January 12, 2022 UK households are feeling the pinch as energy bills soar, the cost of living rises and Covid-19 restrictions continue to impact business.
Millions of banking app users exposed to security flaw: HSBC, NatWest, Monzo, Santander, Starling and Virgin Money customers all affected January 12, 2022 Millions of Brits who use online banking services are exposed to some worrying fraud risks, industry experts warned today. Following an investigation by security experts 6point6, testing the online and mobile app security of 15 major current account providers on a range of criteria, including encryption and protection, login, and account management and navigation, consumer [...]
Exclusive: Senior Tory calls for UK to mull HSBC sanctions over links to Uyghur oppression January 11, 2022 HSBC should be hit with economic sanctions if it does not sever ties with a firm that is closely linked to the ethnic cleansing of Uyghur Muslims in China, according to senior Tory MP Sir Iain Duncan Smith. City A.M. can reveal the former Conservative leader and a group of other MPs will write to [...]
Top Chinese economist suggests £230bn plan to boost shrinking population January 11, 2022 A top Chinese economist has advised the central bank to print around £230bn worth of extra cash a year over the next decade, in a bid to incentivise the population to have more children. The capital would be used to subsidise housing costs, as well as build more childcare facilities, chief economist at SooChow Securities [...]