Myth-Busting: Money printing must create inflation May 11, 2021 | City Talk London ranks ninth on the UBS Global Real Estate Bubble Index for residential properties. Like in many other countries, property prices in the United Kingdom reached an all-time high in 2020. A global pandemic with sudden mass unemployment should have forced UK citizens to sell their homes, but the furlough policies, stamp duty holidays, and record-low interest rates [...]
UK Government sell shares of bailed-out NatWest for £1.1bn as stake shrinks to 55 per cent May 11, 2021 UK Government sell shares of bailed-out NatWest for £1.1bn as stake shrinks to 55 per cent
Monzo quietly introduces paid leave for loss of pregnancy May 10, 2021 Online bank Monzo has introduced paid leave for employees who are impacted by the loss of a pregnancy, as one of the first companies in the UK to do so. The pioneering policy forms part of the bank’s new mental health focus, which followed its founder and former chief executive, Tom Blomfield, step down from [...]
HSBC to trial ‘Zoom-free Fridays’ to combat fatigue May 10, 2021 HSBC is planning Zoom-free Fridays for some of its employees in a bid to tackle pandemic fatigue, following in the footsteps of other leading banks. Companies have been forced to reconsider working practices during the pandemic as the lines between home and work have been blurred as a result of lockdowns. A spokesperson confirmed it [...]
BNP Paribas urges investors to pressure politicians on climate rules May 10, 2021 Bank BNP Paribas has begun urging investors to press politicians to commit to the Paris Agreement with policy and make rules for net-zero targets. Investors are failing to chase strong climate policies, global head of sustainability at BNP Paribas Asset Management, Jane Ambachtsheer, told Bloomberg. Instead of chasing policies, however, investors should start chasing politicians [...]
Junior bankers at UBS in line for $40,000 bonus May 10, 2021 UBS will pay young bankers a $40,000 bonus when they are promoted as it looks to reward its junior employees after a gruelling year of dealmaking. The Swiss bank is set to pay the one-time bonus to global banking analysts promoted to associates on top of any regular salary increases, Bloomberg reported. It is reportedly [...]
Standard Chartered to face shareholder action over climate change policies May 10, 2021 Shareholders are set to eye Standard Chartered bank’s climate policies, according to environmental organisation Market Forces, revealing it has pumped $31.4bn into fossil fuels since the Paris Agreement. The scrutiny comes as the bank confirmed its participation in a $400m five year loan for global coal giant Adaro Indonesia, as part of a syndicate of [...]
Provident Financial to shut doorstep lending arm after 141 years as it crashes to loss May 10, 2021 Troubled sub-prime lender Provident Financial today confirmed plans to shutter its doorstep lending arm as it reported a hefty loss for the full year. The Bradford-based company said it was withdrawing from the home credit market after 141 years, adding that it has begun a consultation process for 2,100 employees. “In light of the changing [...]
UK business borrowing forecasts fall by £7bn on recovery hopes May 10, 2021 Forecasts for UK business borrowing have been slashed as the economy rebounds from the Covid-19 pandemic more quickly than anticipated. Banks are set to lend £19bn to British companies this year, up four per cent year on year but down from the £26bn forecast in February. Growth is set to slow further in 2022 to [...]
Lloyds in talks over £400m deal for retirement group Embark May 9, 2021 Lloyds Bank is in talks over a £400m deal to acquire retirement products provider Embark in what would be its biggest acquisition since it returned to private ownership four years ago. The lender is close to finalising a deal and an announcement could come as early as this month, Sky News reported. Embark, which was [...]