Former Deutsche Bank trader who pleaded guilty to Euribor rate rigging let off £6.5m fine September 15, 2018 A former Deutsche Bank trader who pleaded guilty to rigging the Euro Interbank Offered Rate (Euribor) has escaped from a £6.5m fine after the City watchdog ruled his conviction was punishment enough. Christian Bittar, once Deutsche Bank's star trader, was sentenced to five years after he pleaded guilty to rigging Euibor, an interest rate benchmark [...]
Nationwide vows to keep branches open as it spends £1.3bn on digital growth September 15, 2018 Nationwide has vowed not to be the second bank to fall victim to an IT disaster this year as it unveiled a £1.3bn technology upgrade today. Chief executive Joe Garner said there would not be one “big bang” change as it moves to a new digital platform, adding that the investment won’t come at the [...]
Nationwide vows to keep branches open as it spends £1.3bn on digital growth September 15, 2018 Nationwide has vowed not to be the second bank to fall victim to an IT disaster this year as it unveiled a £1.3bn technology upgrade today. Chief executive Joe Garner said there would not be one “big bang” change as it moves to a new digital platform, adding that the investment won’t come at the [...]
Carney: Bank of England ‘well prepared’ for disorderly Brexit September 14, 2018 The Bank of England is well prepared for a disorderly Brexit and has planned for the worst, the bank's governor Mark Carney has said. Carney said the BoE had used “stress tests” to make sure the country's largest banks could meet the needs of households and business no matter what path Brexit takes. It comes [...]
Carney: Bank of England ‘well prepared’ for disorderly Brexit September 14, 2018 The Bank of England is well prepared for a disorderly Brexit and has planned for the worst, the bank's governor Mark Carney has said. Carney said the BoE had used “stress tests” to make sure the country's largest banks could meet the needs of households and business no matter what path Brexit takes. It comes [...]
Investec shares grow as it plans to demerge asset arm for London listing September 14, 2018 Shares in South African banking group Investec flew up 10 per cent today as it revealed plans to spin off its asset management arm and list it in London. Investec Asset Management (IAM) will be listed on the London Stock Exchange in a demerger Investec believes “simplifies the group”. It will also have an inward [...]
Investec shares grow as it plans to demerge asset arm for London listing September 14, 2018 Shares in South African banking group Investec flew up 10 per cent today as it revealed plans to spin off its asset management arm and list it in London. Investec Asset Management (IAM) will be listed on the London Stock Exchange in a demerger Investec believes “simplifies the group”. It will also have an inward [...]
We’ve all learnt from the collapse of Lehman Brothers, but complacency isn’t an option September 14, 2018 As wenear the 10 year anniversary of the Lehman administration this weekend, there has been a vast amount of commentary looking back. At this huge milestone, it’s certainly worth taking a moment to remind ourselves of how far we’ve come. If I take myself back to that Sunday, when the prospect of Lehman Brothers going [...]
We’ve all learnt from the collapse of Lehman Brothers, but complacency isn’t an option September 14, 2018 As wenear the 10 year anniversary of the Lehman administration this weekend, there has been a vast amount of commentary looking back. At this huge milestone, it’s certainly worth taking a moment to remind ourselves of how far we’ve come. If I take myself back to that Sunday, when the prospect of Lehman Brothers going [...]
RBS boss Ross McEwan ‘withheld information’ from parliament, claims Treasury Committee chair Nicky Morgan September 14, 2018 The chief executive of Royal Bank of Scotland has been accused of "withholding information" when giving evidence to parliament. Ross McEwan told the Treasury Select Committee, including Tory chair Nicky Morgan, back in January that he was not aware of any allegations of criminal activity within the bank's notorious and now-defunct Global Restructuring Group (GRG). [...]