Revolut to launch retail wealth app in challenge to Robinhood and Etoro September 24, 2024 Revolut is launching a standalone app based on its wealth management offering as Europe’s most valuable fintech looks to challenge Robinhood and Etoro in the retail investor market. The Revolut Invest app will offer more than 4,000 financial instruments, including from US and European stocks, bonds, commodities and exchange-traded funds, the London-based company said. Equity [...]
Bank of London: Questions persist over unicorn’s finances and governance September 24, 2024 In the span of just two weeks, fintech "unicorn" The Bank of London has gone from relative obscurity to being thrust into the public spotlight for all the wrong reasons.
London edges closer to New York in battle for financial centre top spot September 24, 2024 London is closing in on New York for the title of the world's top financial centre, according to a survey by an influential think tank, as the capital pulled away from its European rivals.
Panmure Gordon suffered £7.2m loss before merger with Liberum September 23, 2024 Panmure Gordon continued its loss-making streak in the year before its merger with City rival Liberum in the latest sign of factors influencing consolidation among Britain’s corporate brokers. The investment bank posted a £7.2m loss for the 12 months ending on 31 December 2023, according to newly-filed accounts. This compares to a £16.3m loss in [...]
HSBC to sell German private banking arm to BNP Paribas September 23, 2024 BNP Paribas has struck a deal to acquire HSBC's German private banking arm as the French lender looks to expand in wealth management and the London-based giant continues its pivot to Asian markets.
Investec set for profit boost despite challenges in the UK September 20, 2024 Investec delivered an upbeat trading update for the first half, with profit on track to increase compared to last year despite challenges in the UK. The bank expects adjusted operating pretax profit in the six months to September to be between £450m and £482m, up from £441m in the same period last year. Headline earnings [...]
FCA chief encourages more risk-taking among firms to boost financial inclusion September 19, 2024 The chief executive of the Financial Conduct Authority has said more risk-taking among firms is needed to push a "step change" in the UK's financial inclusion, which could also boost economic growth.
UK lenders must do more to support people in debt, ombudsman chief says September 19, 2024 The head of the UK's financial ombudsman has urged lenders to do more to help consumers struggling with debt after a surge in official complaints.
Close Brothers to sell asset management arm as motor finance bill looms September 19, 2024 Close Brothers' shares are down by around a third since the Financial Conduct Authority announced in January that it would review whether customers were overcharged via now-banned discretionary commission arrangements on car loans.
UK banks giving savers better value but still ‘room for improvement’, FCA says September 18, 2024 The City regulator has said savers are an estimated £4bn better off following improvements to easy access rates in recent months, but still put pressure on banks to offer more value.