National Saving & Investments doubles rates on green bond after backlash February 15, 2022 National Security & Investments (NS&I) has doubled the interest rate offered on its green savings bond after it came under fire for offering measly returns for savers the first time round.
Brexit: City firms to be cut off from EU derivatives clearing access after June 2025 February 15, 2022 UK-based derivatives clearing houses will no longer have access to the European Union after June 2025, the EU’s financial services chief has said. Mairead McGuinness confirmed that the EU will no longer allow non-EU, UK-based firms to operate within the bloc from the summer of 2025, “I am very clear that June 2025 is the [...]
Metro Bank CFO quits as full year results loom February 15, 2022 The chief financial officer for Metro Bank has quit with the company's preliminary financial results expected as soon as next week.
Ukraine fears building: Markets hold their breath after Monday wiped off £43bn of London shares February 15, 2022 Billions were wiped off the stock exchange in London yesterday after global markets were thrown into turmoil in the second Monday collapse in less than a month. Nearly £58bn had been removed from the value of London’s top 350 companies just a couple of hours after markets opened on Monday. However, the companies clawed back [...]
Exclusive: What the departure of Lloyd’s of London would mean for the City February 14, 2022 Lloyd’s of London may be leaving its gigantic headquarters in the City. A pandemic-induced hit to office footfall has left it mulling a move to another location. The company told City A.M. recently it is weighing up leaving iconic headquarters’ as it seeks out ways to adapt to shifts in working habits brought about by [...]
BlockFi to pay $100m in settlement with US financial watchdog February 14, 2022 Crypto lender BlockFi must pay $100m as part of a settlement with the US financial watchdog over its high yield lending product.
Uncertain week ahead: Nervous markets hold their breath as Ukraine-Russia tensions reach boiling point February 14, 2022 Despite Friday’s weakness European markets still managed to finish the week higher, with the FTSE100 finishing higher for the second week in a row. For US markets it was a week of two halves, with a decent first half undermined by two days of sharp losses, which were prompted by an unexpectedly hot January CPI [...]
Britain’s banks prepare to pay out bumper bonuses amid cost of living crisis February 14, 2022 Britain’s banks are bracing themselves for a public backlash as they prepare to dish out more than £4bn in bonuses while customers grapple with a growing cost of living crisis.
Higher interest rates and rebounding loan demand to boost UK banks February 10, 2022 A higher interest rate environment and a rebound in loan demand is set to boost Britain’s biggest lenders. UK banks’ net interest margins will widen on the Bank of England and the world’s biggest central banks launching a rate hike cycle this year to tame inflation, analysts are betting. Final quarter earnings for UK banks [...]
Retail banking rebound boosts Societe Generale profits February 10, 2022 A sharp rebound in retail banking activity has boosted French lender Societe Generale’s profits, it announced today. Profits in the final three months of last year came in at €1.79bn (£1.51bn), up substantially from the €470m booked in the same period in 2020. An uptick in loan demand driven by consumer confidence recovering as the [...]