Barclays boss Jes Staley fined for whistleblower scandal April 20, 2018 Barclays boss Jes Staley will pay a fine after an investigation into his attempts to identify a whistleblower, but has escaped further sanctions. Shares in the bank inched up 0.6 per cent in early trading as investors showed signs of relief that the investigation had concluded. The group announced this morning that the FCA and [...]
The weakest link: How to Brexit-proof your supply chain April 20, 2018 Type in “How will b” into Google and the search engine will start to complete the question for you. The top suggestion: “How will Brexit affect my business?” This isn’t another article to terrify you on how much data Google has on you. No, the point here is that you’re not the only one asking [...]
What Facebook’s downfall will mean for the future of fintech April 20, 2018 The year began with headlines predicting the entrance of Facebook and Google into the banking market, following the introduction of new Open Banking rules which forced banks and payment companies to share data with third parties if customers agreed. The changes were meant to boost account switching and improve price comparison, but some speculated that [...]
When it comes to drug policy, for once UK politicians should look to Donald Trump April 20, 2018 Given the whirlwind of foreign policy decisions and domestic policy scandals dominating the UK this week, you’d be forgiven for missing some extremely progressive news to come out of the US. While President Trump is rarely credited for his progressive stances on social issues or civil liberties, lo and behold! He is tackling the War [...]
DEBATE: Is the proposed ban on plastic drinking straws a good idea? April 20, 2018 Is the proposed ban on plastic drinking straws a good idea? Helen McGeough, senior consultant at PCI Wood Mackenzie, says YES. Michael Gove has called plastic waste a global emergency – Brits alone throw away 8.5bn plastic straws a year. There is a need to illustrate symbolism among single-use plastics, where functionality may be regarded [...]
London voted top financial centre above New York for the first time in five years, according to a Duff & Phelps report April 20, 2018 London has been voted by finance professionals as the world’s top financial centre for the first time since 2013, according to a report released today. More than half of the global senior professionals surveyed by advisory firm Duff & Phelps said London was the world’s pre-eminent financial hub, allowing the UK capital to steal its [...]
Sterling falls as Carney suggests that interest rates might not go up in May April 19, 2018 Bank of England boss Mark Carney has suggested that interest rates may not rise next month, leading sterling to fall against the euro and the dollar. The pound went down 0.75 per cent to €1.14 against the euro and $1.41 against the US dollar as markets reacted to the fact that interest rates might not [...]
Billy Bragg Bank of England lecture: City heavyweights flummoxed by popstar’s lecture April 19, 2018 Economists were left scratching their heads today as eighties popstar and left-wing activist Billy Bragg delivered a lecture at the Bank of England. Bragg took aim at the post-financial crash quantitative easing (QE) programme in a presentation entitled: The Struggle for Accountability in the Digital Age. “While [QE has] undoubtedly saved ordinary citizens from a [...]
Blackstone profits drop on equity mark turmoil April 19, 2018 Private equity giant Blackstone has seen its profit drop more than 20 per cent in the first quarter as stock market turmoil takes effect. Market uncertainty triggered by fears of a potential trade war between the US and China ended the stock markets long bull run, denting Blackstone’s profits. Blackstone announced profit of $792m (£558m), [...]
Bank of England boss lowers Brexit job loss estimate as he strikes tone of optimism over financial services deal April 19, 2018 One of the Bank of England’s top officials has cut his forecast for the number of job losses the City will endure as a result of Brexit. Deputy governor Sam Woods reiterated his forecast that one-to-two per cent of bank and insurance jobs would move out of London, equivalent to around 5,000-10,000 people. But, speaking [...]