Noel Edmonds’ lawyer to take on Lloyds Banking Group over Bristol allegations February 6, 2019 Noel Edmonds’ lawyer Jonathan Coad is set to open a new front in his battle against Lloyds Banking Group. Coad tweeted today that he has been instructed by a “lady who is a victim of Lloyds Bristol”. Speaking to City A.M. Coad said: “I have spoken to a number of people who are victims of [...]
ING profits dented by money laundering scandal but Dutch bank ends year with a flourish February 6, 2019 Dutch bank ING saw its full year profits dented by a costly money laundering scandal but ended 2018 with better-than-expected earnings in the fourth quarter. The financial services group reported net profit of €4.7bn (£4.13bn) for the year, a 4.1 per cent increase on 2017, despite paying €775m to settle a court case after admitting [...]
Former Barclays boss Bob Diamond steps down as chairman of Atlas Mara amid strategic review February 6, 2019 Former Barclays boss Bob Diamond has stepped down as chairman of Atlas Mara as the pan-African financial group launches a strategic review to improve performance. Diamond, the firm’s co-founder, will retreat to the role of non-executive director, further scaling back his involvement. Read more: Former Barclays boss Bob Diamond says banks need to take more [...]
BNP Paribas cuts targets for 2020 after global markets revenue plunges 40 per cent February 6, 2019 French banking giant BNP Paribas has cut its targets for 2020 after revenue in its global markets arm plunged 40 per cent amid volatility at the end of last year. The bank’s global markets investment banking and trading division reported revenue of €650m (£571m) in the fourth quarter, a sharp drop from €1.07bn the previous [...]
Softbank Vision Fund sells entire stake in struggling chipmaker Nvidia February 6, 2019 Softbank’s Vision Fund has sold its stake in chipmaker Nvidia, which saw shares plummet after it cut its fourth quarter revenue estimate by $500m last week. In Softbank’s third quarter report it revealed that the drop in Nvidia’s share price following the forecast cut reduced the fund’s valuation gain by ¥299.5bn (£2.11bn). Read more: Chipmaker [...]
CYBG shares soar as it boosts mortgage lending but warns of ‘uncertain’ market conditions February 6, 2019 CYBG has unveiled 1.5 per cent mortgage growth for the first quarter of its financial year, but warned of uncertain market conditions ahead. The bank, which acquired Virgin Money on October last year, said mortgages had hit £60bn in the three months to 31 December, which it said was the result of a strong pipeline and good [...]
Activist investor Edward Bramson makes fresh attempt to secure place on Barclays’ board February 5, 2019 Activist investor Edward Bramson has submitted a resolution to be appointed to Barclays’ board of directors at the banks annual general meeting (AGM) in May. Bramson, the chief executive of Sherborne Investors which holds more than five per cent of the bank's shares, has previously called for Barclays to downsize its investment banking division. Read more: Barclays [...]
President Trump to nominate World Bank critic David Malpass to lead the institution February 5, 2019 President Donald Trump is reportedly set to nominate an ally from the US Department of the Treasury to become president of the World Bank. The nomination of David Malpass would see an ardent critic of the World Bank put in line to lead the lending institution. Read more: Shutdown back down: Trump faces conservative backlash as [...]
Digital bank Monzo in discussion with Post Office to allow customers to deposit cash February 5, 2019 Digital bank Monzo has entered discussions with the Post Office to allow its customers to deposit and withdraw cash in branched across the country. Chief executive Tom Blomfield told MPs that while cash transactions were declining they were not “going away.” A potential deal, similar to those between the Post Office and other major UK [...]
Two Barclays employees killed in Italian avalanche February 5, 2019 Barclays confirmed today that two of its employees were killed in an avalanche in the Italian Alps on Sunday. Matt Ziegler, 43, an in-house lawyer at Barclays, and Katherine Clarke, 39, a director in Barclays private bank and overseas service, were among four people killed in the avalanche on Sunday. A spokesperson said in a [...]