Cost of living crisis: Millions of savers miss out as UK banks pocket profits from higher interest rates January 10, 2022 The UK’s major banks have failed to pass on last month’s interest rate rise to millions of savers, according to Moneyfacts.
Morning snapshot: Your Daily Dose of pre-market news January 10, 2022 It’s Monday 10 January. Here is a quick overview of the stories that are making headlines this morning in the UK and around the world. UK POLITICS Cladding: Developers must agree a £4 billion plan to fix dangerous cladding on low-rise flats by early March or risk new laws forcing them to act, Housing Secretary [...]
China central bank needs carbon goals in new policies, says ex-IMF lead January 9, 2022 China’s central bank should consider carbon neutrality goals when making monetary policies, a former deputy managing director of the International Monetary Fund has said today. Speaking at the New Financial Forum in Beijing on Sunday, Zhu Min advised the Bank to add carbon neutrality to its monetary goals’ third pillar – which also includes [...]
Income of FTSE 100 executives passes median UK worker’s annual salary today despite CEO pay dropping to £2.7m January 7, 2022 New research shows this morning that the pay of top company executives will pass the median annual wage for a full-time worker by Friday morning, sparking outrage from unions. The High Pay Centre said that, by this morning, the median FTSE 100 chief executive (CEO) will have been paid the median UK worker’s annual salary. [...]
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 [...]