Lenders left out of pocket by millions amid alleged fraud at broadcaster January 7, 2022 An alleged fraud at collapsed Arena Television has left some 50 lenders, including HSBC, millions out of pocket. The broadcasting company is suspected of concocting thousands of fake assets, in order to score nearly £300m in loans, The Times first reported. Banks, such as NatWest-owned Lombard, Shawbrook, ABN Amro and Lloyds, have also reportedly been [...]
Starling Bank boss denounces investors over gender funding gap January 6, 2022 Starling Bank boss Anne Boden criticised venture capital investors today over the growing gender funding gap, claiming they were only willing to back female-led companies “in so-called normal times”. In her annual letter which outlined the bank’s priorities for the year, Boden cited data from Dealroom which showed that venture capital raised by women founders [...]
Combination of Covid, Brexit and transition towards net-zero economy to end decades of declining ‘job churn’ in UK January 6, 2022 Decades of declining “job churn”, which has meant fewer risks and opportunities for workers, is likely to be upended in the decade ahead as the combination of Covid-19, Brexit and the transition towards a net-zero economy brings about major changes in the UK economy, according to a new report. In fact, the view that robots [...]
Crypto adoption: institutional investors hold back over security concerns January 6, 2022 Crypto's security risks are the biggest cause for concern amongst institutional investors according to a new survey.
HSBC, Bank of America and UBS urge new work routines for Hong Kong staff January 6, 2022 Large financiers have urged new work routines for their Hong Kong offices, as the city-state imposes a two-week Covid-19 circuit breaker. Tightened restrictions from January 8 to January 21 will see flights grounded from the UK, as well as the US, Canada, Australia, France, India, Pakistan and the Philippines. HSBC, which employs some 30,000 [...]
Fintech Monument appoints Ian Rand as new CEO after bank given green light by regulators January 6, 2022 Monument has appointed Ian Rand to the role of chief executive officer, following the bank’s acquisition of a licence. The former boss of Barclays Business Banking will take leadership of the digital bank this month, as co-founder and current CEO Mintoo Bhandari, takes a step back. Rand has been CEO designate from 1 January 2022 and [...]
Let’s dance: Bowie deal won’t be the last, says Coutts January 6, 2022 THE NEW year saw another bumper music deal in the headlines, with David Bowie’s songwriting catalogue sold to Warner for an estimated £200m.
Goldman Sachs predicts Bitcoin could hit $100k in next five years January 5, 2022 Global investment bank Goldman Sachs has predicted that Bitcoin's price could hit $100k (£73.8k) if the asset surpasses gold as a store of value.
Magic Circle: Clifford Chance partner takes home record £3.2m earnings January 5, 2022 Clifford Chance’s highest earning lawyer took home more than £3m in earnings last year, as firms battle it out for the best pay. The Magic Circle law firm confirmed in July that the average take-home for full equity partners has jumped nine per cent to £1.85m each over the last 12 months. Fellow City law [...]
High volumes of transactions force Nationwide to ‘queue’ inbound payments after 10m transfers overnight January 4, 2022 Following news that customers of Nationwide were unable to carry out any payments, the third time this month, thousands of angry Brits took to social media to demand an explanation. This afternoon, the bank explained to City A.M. that it took the decision to “queue” inbound faster payments, where money is sent to and from [...]