This chart shows how many current account switchers Barclays, HSBC, Lloyds and NatWest have lost July 29, 2015 New rules which make it easier for customers to change current accounts resulted in a four per cent increase to 1.1m switches, compared to 1.06m during in same period a year earlier. The rules, introduced in October 2013, allow customers to switch accounts within seven working days, with all outgoing and incoming payments transferred automatically. [...]
HSBC and First Direct customers can finally use Apple Pay July 28, 2015 The mobile payment system launched in the UK in mid-July to great excitement, but not all banks supported it from the start. Although HSBC was supposed to be a launch partner, when the day came, customers were told the service had been delayed, and that the bank was “working hard” to get it running by [...]
Capita: UK dividend payments hit highest point since 2008 as Lloyds and HSBC return to financial health July 19, 2015 Dividends paid out by UK companies have soared to their highest level since 2008, buoyed by banks hiking their payouts and a lower pound. A total of £29.2bn was paid out during the second quarter, shows data collected by Capita Asset Services, the highest second quarter on record. “To say income investors had a bumper [...]
Bungles and blunders: From the life insurance scandal to confusion over HSBC, here are Financial Conduct Authority boss Martin Wheatley’s worst moments July 17, 2015 As Financial Conduct Authority (FCA) chief executive Martin Wheatley takes his final bow, many in the City will be celebrating – after all, this is the man who famously promised to “shoot first and ask questions later” when it came to regulating the finance sector. Read more: George Osborne ousts Wheatley from the FCA [...]
Former HSBC boss Lord Green says HSBC should’ve done more due diligence ahead of Swiss private bank purchase July 14, 2015 Former HSBC boss Lord Green today admitted that it should've done more due diligence ahead of its purchase of its Swiss private banking arm. Green, who was the bank's chief executive between 2003 and 2006 and as its chairman between 2006 and 2010, told members of the Lords' economic affairs committee neither he nor the [...]
Ex-HSBC boss Lord Green faces grilling from House of Lords July 13, 2015 The elusive Lord Green will finally face a grilling today on high-profile scandals that occurred during his tenure at the helm of HSBC. Green – who headed up the bank between 2006 and 2010 – is up in front of the House of Lords Economic Affairs Committee, where he will be quizzed on allegations that [...]
HSBC cleans up at Standard Chartered Great City Race despite Tube strike grumbles July 9, 2015 Bankers braved the heat in Old Street yesterday competing in the annual Standard Chartered Great City Race, raising funds for sight charity Seeing is Believing. Just under 5,000 runners from 350 City firms took part in the 5km run around the Square Mile. Not content with winning at Wednesday’s Corporate Challenge with JP Morgan, HSBC’s [...]
Summer Budget 2015: Barclays, HSBC, RBS share prices rise as Osborne reveals levy will be ditched July 8, 2015 Banks share prices lifted this afternoon as George Obsorne confirmed the levy would be phased out over the next six years. In a move widely seen as looking to sway HSBC, Standard Chartered et al from leaving the UK, Osborne's first all-Tory Budget confirmed that the levy would be cut gradually until 2022. Instead [...]
HSBC fires Birmingham staff after filming video of mock-Islamic State execution July 7, 2015 HSBC has sacked several employees who made a video in which they pretended to be Islamic State militants beheading a hostage. The video, which was posted online, shows one man dressed in an orange jumpsuit surrounded by five other men dressed in black, one of whom was holding a fake knife. One man is [...]
The Banker’s top 1,000 world banks 2015: UK lenders slide down rankings as Chinese institutions move up June 29, 2015 UK banks continue to lose their global position as Chinese banks power ahead, according to The Banker’s latest ranking of the Top 1,000 banks. HSBC fell from fifth place to ninth, Barclays from 12th to 13th and Royal Bank of Scotland from 15th to 18th as they restructured and slimmed down in the wake [...]