‘Wild West’ world of cryptocurrencies needs to be regulated, MPs warn Philip Hammond September 19, 2018 The "Wild West" world of cryptocurrencies needs to be independently regulated to protect customers and prevent money-laundering, a powerful group of MPs today demanded. A report from the Treasury Select Committee warns the current system of self-regulation is not fit for purpose, and adverts promoting digital currencies are often misleading. Among the problems facing cryptocurrency [...]
Noel Edmonds brands Archbishop of Canterbury a “reincarnation of evil” over Lloyds investment September 18, 2018 TV presenter Noel Edmonds branded the Archbishop of Canterbury a "reincarnation of evil" for investing in Lloyds Bank and failing to meet with HBOS fraud victims. The Deal or No Deal star, who is seeking £64m in damages from Lloyds, said Justin Welby was a hypocrite after the church leader last week mounted an attack on zero hours contracts [...]
Noel Edmonds brands Archbishop of Canterbury a “reincarnation of evil” over Lloyds investment September 18, 2018 TV presenter Noel Edmonds branded the Archbishop of Canterbury a "reincarnation of evil" for investing in Lloyds Bank and failing to meet with HBOS fraud victims. The Deal or No Deal star, who is seeking £64m in damages from Lloyds, said Justin Welby was a hypocrite after the church leader last week mounted an attack on zero hours contracts [...]
Royal Bank of Scotland testing new Natwest digital business banking platform September 18, 2018 Royal Bank of Scotland (RBS) has started testing a new business banking platform alongside a separate digital retail bank. The platform, which is being run under the Natwest brand, is in very early-stage tests with a small number of small businesses. The business bank tests are running alongside a separate retail banking offering in development, [...]
Royal Bank of Scotland testing new Natwest digital business banking platform September 18, 2018 Royal Bank of Scotland (RBS) has started testing a new business banking platform alongside a separate digital retail bank. The platform, which is being run under the Natwest brand, is in very early-stage tests with a small number of small businesses. The business bank tests are running alongside a separate retail banking offering in development, [...]
Paragon share price jumps as loan sale pushes up profits amid strong buy-to-let pipeline September 18, 2018 Challenger bank Paragon today announced a "reverse profit warning" after it sold a portfolio of loans, while it also sees a strong pipeline of buy-to-let loans. In an unscheduled trading update published today, Paragon said the premium for which it sold the assets will have a positive impact of seven pence per share on final [...]
Paragon share price jumps as loan sale pushes up profits amid strong buy-to-let pipeline September 18, 2018 Challenger bank Paragon today announced a "reverse profit warning" after it sold a portfolio of loans, while it also sees a strong pipeline of buy-to-let loans. In an unscheduled trading update published today, Paragon said the premium for which it sold the assets will have a positive impact of seven pence per share on final [...]
Visa and Mastercard agree $6.2bn settlement over card fees September 18, 2018 Visa, Mastercard and a number of banks have agreed to pay $6.2bn (£4.72bn) to settle a long-running legal dispute over the charges retailers are forced to pay for accepting card payments. The lawsuit, which began in 2005, accused the card companies of breaking US federal antitrust laws by forcing retailers to pay swipe fees. Read more: TSB forced to [...]
Visa and Mastercard agree $6.2bn settlement over card fees September 18, 2018 Visa, Mastercard and a number of banks have agreed to pay $6.2bn (£4.72bn) to settle a long-running legal dispute over the charges retailers are forced to pay for accepting card payments. The lawsuit, which began in 2005, accused the card companies of breaking US federal antitrust laws by forcing retailers to pay swipe fees. Read more: TSB forced to [...]
Former Barclays trader Jay Merchant jailed for Libor rigging deported to India September 18, 2018 One of the first bankers jailed for Libor rigging has been deported to India, City A.M. can reveal. Indian-born Jay Merchant was the most senior of a group of Barclays bankers sentenced for manipulating the benchmark – used to set borrowing rates for trillions worth of loans and derivatives – following an 11-week trial at Southwark [...]