City jobs market ‘in slow motion’ as Brexit uncertainty hurts banking sector March 19, 2019 The City jobs market has “gone into slow motion” as Brexit uncertainty hits confidence, according to recruitment firm Robert Walters. Read more: London salaries 2019: Which jobs will get you a pay rise? Job creation at big banks in London lagged behind other European cities last year, Robert Walters said. "Headcount at the world’s biggest [...]
Deutsche Bank and Commerzbank confirm merger talks as German government signals support for the tie-up March 17, 2019 Deutsche Bank and rivals Commerzbank have started exploratory merger talks after the German government signalled it would not stand in the way of a potential tie-up. The senior management of Germany’s two largest lenders have begun discussions this morning, a step up from initial informal talks in recent weeks. Read more: Deutsche Bank hits back [...]
Contactless card payments rise by a third with transaction limit set to increase March 15, 2019 Every two in five card payments are made with contactless technology according to new data. Contactless transactions rose 31 per cent year-on-year in 2018, data from banking trade body UK Finance revealed, demonstrating a growing confidence in paying without use of a Pin. A wider adoption of the technology on public transport and in more [...]
DEBATE: As RBS trials a fingerprint bank card, is biometric technology the future for digital payments? March 14, 2019 As RBS trials a fingerprint bank card, is biometric technology the future for digital payments? YES, says Ann Cairns, vice chairman of Mastercard. As we shift towards using digital services, and the need to protect our data becomes ever more critical, the use of passwords is woefully outdated. Many people simply have more passwords than [...]
One Savings Bank and Charter Court announce terms of £1.6bn merger March 14, 2019 Challenger banks One Savings Bank and Charter Court have confirmed the terms of a £1.6bn merger. Following the completion of the deal One Savings Bank shareholders will own around 55 per cent of the combined company, the firm announced as it posted its full-year results for 2018. Read more: One Savings Bank and Charter Court [...]
Former graduate trainee takes UBS to court over handling of London rape allegation March 13, 2019 A former graduate trainee has taken UBS to court over its handling of her alleged rape by a colleague nearly 20 years her senior. The claimant, referred to as Ms A, has filed a lawsuit against the Swiss bank for sexual harassment and victimisation, her legal team said today. Read more: UBS fined €4.5bn in [...]
Bank for International Settlements warns central banks over risk posed by cryptocurrency exposure March 13, 2019 The Bank for International Settlements (BIS) has warned banks that cryptocurrencies could pose a risk to financial stability. The BIS Basel Committee, which sets regulatory standards for central banks, said the growth of crypto asset trading platforms and new financial products could increase the risks faced by lenders. Read more: Most UK consumers unable to [...]
Swiss private bank Edmond de Rothschild to delist March 13, 2019 Swiss private bank Edmond de Rothschild has announced plans to delist and restructure in a move to consolidate the group. The family buyout comes after a settlement was agreed last year among Rothschild cousins over the use of the historic family name for commercial matters, forcing two warring companies to simplify their complex and intertwined [...]
Strong results in Asia push up Prudential’s profits March 13, 2019 Prudential saw profits in Asia grow by 10 per cent over 2018, as it cashed in on customer demand for health, protection and savings services in the continent. The figures The British life assurance and financial services company’s profit before tax rose by three per cent in 2018 to reach £4.8bn. Prudential’s cash holdings and [...]
Provident restores dividend as doorstep lender fights takeover bid from Non Standard Finance March 13, 2019 Provident Financial has restored its dividend after implementing a turnaround plan, the doorstep lender announced today as it fights off a takeover bid from rival Non Standard Finance. The figures Shares were up more than three per cent as the company announced that adjusted profit before tax increased by 82.3 per cent to £153.5m. Statutory [...]