Zopa secures last-minute £140m injection December 3, 2019 Zopa has secured a £140m cash injection that will help the peer-to-peer lending giant meet regulatory capital requirements to become a bank. The fintech firm has been in talks to secure a major lifeline with an entity connected to US-based private investment firm IAG Capital Partners and its UK arm Silverstripe. Read more: Moody’s downgrades [...]
Moody’s downgrades outlook for UK banking system December 3, 2019 The UK banking system’s outlook has been downgraded by credit ratings agency Moody’s, after it cited a swathe of challenges facing lenders in the year ahead. Flagging the persistently low interest rate environment and a competitive mortgage market, Moody’s is forecasting a modest slide in profitability. Read more: Carney appointed UN climate envoy The agency [...]
TSB mulls bonus docking after pushing back gender balance targets December 3, 2019 TSB is planning to dock bonuses for its bosses after missing gender balance targets, according to reports. The bank has pushed back its deadline to ensure women hold roughly half of the senior jobs by five years. Read more: Mark Carney appointed UN climate envoy TSB’s remuneration committee is set to decide pay for senior [...]
Scrutiny from DoJ on Deutsche Bank’s role in Danske money laundering scandal December 2, 2019 Deutsche Bank’s role in the Danske Bank money laundering scandal is reportedly facing a deeper investigation from the US, in a move likely to heap fresh pressure on the embattled German lender. The US Department of Justice is probing whether Deutsche helped transfer tainted money from Danske into the US, a source told Reuters. Read [...]
TCI threatens investors over climate change as pressure mounts on sector December 2, 2019 Activist hedge fund TCI has called on company directors to disclose their carbon dioxide emissions or risk punishment. According to the Financial Times, TCI, which is led by venture philanthropist Sir Christopher Hohn, has sent letters to companies such as Airbus and Moody’s warning them to improve their pollution disclosure or face having their directors [...]
Nomura chief executive steps down after seven years in the role December 2, 2019 Japanese investment bank Nomura today announced that chief executive Koji Nagai, who has led a seven-year restructuring effort, will step down. According to a statement from the group, Nagai will be replaced by current chief operating officer Kentaro Okuda on 1 April. Read more: Japanese investment bank Nomura cuts around 100 jobs in the City [...]
Goldman Sachs to cool UK Marcus expansion to avoid red tape December 1, 2019 Goldman Sachs is planning to cool the UK expansion of its new retail bank Marcus as it seeks to avoid the stricter regulations big lenders face in Britain. So-called ringfencing rules drawn up after the financial crisis mean banks with more than £25bn in customer deposits have to separate retail banking activities from their much-riskier [...]
Mark Carney appointed UN climate envoy ahead of Bank of England exit December 1, 2019 Bank of England boss Mark Carney has been appointed United Nations special envoy for climate action and finance, it was announced today, as he looks towards life beyond the governor’s chair. UN secretary-general Antonio Guterres has tasked Carney with galvanising global finance into addressing the perils of climate change and helping limit warming to 1.5 [...]
Zopa nears deal to secure £130m cash injection December 1, 2019 Zopa is reportedly on the cusp of agreeing a £130m cash injection that will help the peer-to-peer lending giant meet regulatory capital requirements. The fintech firm is in advanced talks to secure a major lifeline with an entity connected to US-based private investment firm IAG Capital Partners and its UK arm Silverstripe. Over the weekend [...]
Ranked: Britain’s best and worst bank accounts November 30, 2019 Brits now enjoy a larger choice of bank accounts than ever before, with rival offerings from time-honoured high street stalwarts to exciting new fintech upstarts. But if the choice at times seems overwhelming, a new league table has revealed which banks score highly for customer service and communication – and which leave a lot to [...]