Barclays agrees to pay $2bn in civil penalties to settle US mortgage misselling claims March 29, 2018 Barclays has agreed to pay $2bn £1.4bn) in civil penalties to resolve claims for fraud in the sale of residential mortgage-backed securities, the US Department of Justice said today. The US had alleged that Barclays caused “billions of dollars in losses to investors” by selling the deals in the lead up to the financial crisis. [...]
Former Institute of Directors (IoD) boss Simon Walker to lead UK Finance review of small business bank complaints March 29, 2018 The former director general of the Institute of Directors has been tasked with chairing the finance industry’s review into how complaints and dispute procedures are handled for the UK’s small businesses. Simon Walker will lead the review which has commissioned by trade body UK Finance to assess the scale and complexity of banking complaints from [...]
Employee mental health is now a greater concern than physical illnesses for many UK companies March 29, 2018 Mental health is now a board-level priority for the majority of UK businesses, according to a new report by health insurance company Bupa. It is an even bigger issue than physical illnesses for 29 per cent of businesses, and 41 per cent of senior decision makers said they have witnessed more episodes of mental health [...]
Facebook pays women on average 9.9 per cent less than men in the UK – but its bonus gap is much bigger March 29, 2018 Facebook has revealed it pays women on average 9.9 per cent less than men in the UK though its bonus gap was considerably wider at 41.5 per cent. The tech giant said women’s median bonus pay was 41.5 per cent lower than men, with 86.3 per cent of women and 87.8 per cent of men [...]
Consumer confidence rose in March as promises of wage increases boosted optimism March 29, 2018 A snowy March failed to dampen consumer confidence in the UK, according to new research which shows optimism increased over the month. Consumers were generally more confident across the board in the key areas of personal finance, the general economic situation, the major purchase index and the savings index, the long-running research from GfK on [...]
Bargain Booze owner Conviviality confirms it will be filing for administration putting thousands of jobs at risk March 29, 2018 Conviviality has confirmed it will be filing for administration after failing to secure emergency funding, and intends to appoint administrators within 10 business days. Some 2,500 people work across Conviviality’s brands which include Matthew Clark, Bibendum, Catalyst, Bargain Booze, and Wine Rack. In a statement this morning it said: Unless circumstances change, and in accordance [...]
CME Group, the worlds largest futures exchange, agrees deal to acquire Michael Spencer’s Nex for £3.9bn March 29, 2018 CME Group, which operates the world’s largest futures exchange, announced this morning that it has agreed to buy Nex Group, the London-listed tech company which provides electronic trading platforms, for £3.9bn. CME agreed to pay shareholders of Nex – formerly known as Icap – £10 per share, consisting of £5 in cash and 0.0444 CME [...]
Challenger bank Starling launches business accounts as it eyes £120m RBS competition pot | City A.M. March 29, 2018 Challenger bank Starling is launching business accounts as it targets a pot of cash being paid out by RBS. The product will make Starling the first mobile-only bank to have business accounts. It comes as the company targets “Pool A” of grants worth up to £120m for the development of business current accounts. The grant [...]
DEBATE: Will the deposit return scheme for bottles be effective at cutting down plastic use? March 29, 2018 Will the deposit return scheme for bottles be effective at cutting down plastic use? Josh Burke, energy and environment research fellow at Policy Exchange, says YES. The shocking images in Blue Planet 2 evoked visceral reactions. Consumers are now more alert to the environmental impacts of plastic, and polls show strong support for measures that [...]
Rosenblatt appoints broker Cenkos Securities as it looks to become the fourth English firm to float March 29, 2018 City law firm Rosenblatt has engaged broker Cenkos Securities as it looks to become the fourth English law firm to go public. City A.M. revealed earlier this month that the firm was considering a London initial public offering (IPO), something which now looks increasingly likely following the appointment of Cenkos. Read more: Exclusive: City law [...]