London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Veteran City banker and billionaire Bruno Schroder dies aged 86 February 21, 2019 Bruno Schroder, the longest serving FTSE 100 board member and British banking veteran, has died aged 86. The billionaire, who served as a non-executive director of his family’s business Schroders for more than 50 years, died yesterday following a short illness, the company said. Read more: Lloyds and Schroders sign £80bn joint venture deal Schroder [...]
Swedish and Estonian regulators probe Swedbank over money-laundering report as SEC goes after Danske February 21, 2019 Swedish and Estonian financial regulators have launched a joint investigation after an explosive report linked Stockholm-headquartered lender Swedbank to a Baltic money-laundering scandal. The countries’ respective Financial Supervisory Authorities (FSAs) announced the probe following a report by Swedish broadcaster SVT that alleged links between Swedbank and scandal-ridden Danish lender Danske Bank. Dankse has been rocked [...]
Barclays profits slip as bank sets aside £150m for Brexit February 21, 2019 Profits missed estimates at Barclays last year, the bank revealed today, as it set aside £150m for Brexit and paid out billions of pounds in misconduct and litigation charges related to its role in the financial crisis. Read more: Ex-Barclays chair Agius tells court he was unaware of £280m Qatar deal The figures Profit before [...]
Foreign affairs select committee calls for overseas territories to publish ownership registers February 20, 2019 The Foreign Affairs select committee has called today for British Overseas territories to publish registers of the ultimate owners of assets on national security grounds. The Sanctions and Anti-Money Laundering Act which became law in May 2018 requires British overseas territories such as Anguilla and Bermuda to establish publicly-accessible registers of beneficial ownership by 31 [...]
Government agency set bonus targets for senior RBS GRG bankers February 20, 2019 Top bankers at RBS’s disgraced global restructuring unit GRG had 70 per cent of their bonuses pegged to Treasury targets, it can be revealed. The details follow claims that the Treasury influenced GRG policy at a time when it was mistreating business customers, many of which went bust. Former GRG head Derek Sach and UK [...]
UBS fined €4.5bn in French tax fraud trial but Swiss bank blasts decision and launches appeal February 20, 2019 Swiss banking giant UBS has been fined €4.5bn (£3.9bn) by French court after being found guilty of laundering the proceeds of tax evasion. Shares in the bank dropped 2.8 per cent after a verdict was delivered in Paris this afternoon. Read more: Jury fails to reach verdict in UBS insider trading case The court found [...]
Former Barclays chair Marcus Agius tells court he was unaware of £280m agreement with Qatar February 20, 2019 Former Barclays chair Marcus Agius told a court in London today that he was unaware of an agreement by the bank to pay Qatar £280m as it embarked on an emergency fundraising at the height of the financial crisis. The Serious Fraud Office has charged former Barclays chief executive John Varley and senior bankers Richard [...]
Schroders and Lloyds Banking Group to launch financial planning joint venture in June February 20, 2019 A multi-million pound joint venture between investment management firm Schroders and Lloyds Banking Group will launch in June this year, the companies confirmed today. Schroders Personal Wealth will initially be available to Lloyds private banking and Bank of Scotland private banking customers before opening to the wider market in the fourth quarter of 2019, subject [...]
TSB online banking down: Another outage hits long-suffering customers February 20, 2019 TSB customers have been hit with another online outage affecting the bank’s mobile app and internet banking. Hundreds of customers vented their frustration they were unable to access their accounts, pay their rent or even check their balance today during the two-hour outage. Read more: TSB to pay former boss £800,000 despite bonus ban The [...]
The Eurozone’s push for unified fiscal discipline is doomed to fail February 20, 2019 It is widely acknowledged that, under a monetary union, fiscal and monetary discipline have to go hand in hand in order to maintain financial and macroeconomic stability, and thus ensure that the currency remains sound. For a monetary area with such diverse economies as the Eurozone, establishing the right legal architecture and operational rules to [...]