Lloyds faces landmark legal action in the High Court over pensions equalisation July 4, 2018 Lloyds Bank could have to fork out up to £508m to equalise its pension scheme if a landmark course case finds it has discriminated against female employees. Three female members of Lloyds' pension scheme claim they have been discriminated against because their pensions increase at a lower rate than their male counterparts. The case, which [...]
Govia launches new compensation scheme for commuters disrupted by May timetable mayhem July 4, 2018 Thameslink and Great Northern passengers will be able to claim more money back following the May timetable shambles after Govia Thameslink Railway (GTR) and the Department for Transport (DfT) agreed to a special compensation scheme for those most severely affected by the changes. Compensation will be paid to qualifying season ticket holders according to the [...]
Banks could be forced to fork out billions over undisclosed PPI commission following mis-selling ruling July 2, 2018 British banks may have to dole out billions more on mis-sold payment protection insurance (PPI) claims following a landmark legal ruling. Many of the UK's leading banks have ringfenced sums to compensate those who were mis-sold PPI, which was designed to cover repayments in circumstances such as redundancy, illness or death. The mis-selling scandal has [...]
Carlos Ghosn says Nissan is ‘in the dark’ over Brexit June 27, 2018 Nissan is "in the dark" about the UK's impending departure from the EU, the chairman and CEO of the Renault-Nissan alliance has said. Carlos Ghosn told the BBC it was "difficult to take a position not knowing what Brexit will look like". He said Nissan made about 500,000 cars last year, and that 80 per [...]
Why did TfL strip Uber of its licence and what did it do to get it back? June 26, 2018 After months of deliberation, Uber was today granted a 15-month licence after persuading Westminster Magistrates' Court that it had changed its ways and was now a "fit and proper" operator in the capital. City A.M. looks back at why TfL took the dramatic decision last year and what Uber did to try and win it [...]
Mercedes-backed ViaVan launches weekly subscription following London launch June 22, 2018 Mercedes-backed ride sharing service ViaVan has launched its own weekly subscription service following on from its successful launch in London. The subscription, called ViaPass, starts at a launch price of £35 for a limited time only. New takers will also have access to four free shared rides daily for seven days, up to a value [...]
Tom Hayes’ lawyer slams lack of disclosure around $100m Citi settlement over Libor rigging in US June 20, 2018 The lawyer for Tom Hayes, a former Citi banker jailed for rigging the London Interbank Offered Rate (Libor), has slammed the Serious Fraud Office (SFO) for failing to disclose the bank's recent settlement with a group of US states over allegations it manipulated the interest rate benchmark. The banking giant reached a $100m (£76m) settlement [...]
Tribunal raps FCA’s ‘troubling’ conduct towards former UBS trader banned for Libor rigging June 20, 2018 A tribunal has rapped the UK's financial watchdog for its conduct in a Libor rigging probe that saw former UBS trader Arif Hussein banned from the industry. Hussein, who held a junior position at the bank, attempted to overturn the Financial Conduct Authority's (FCA) decision to ban him from financial services for manipulating the London [...]
Former Barclays trader accused of Euribor rigging was ‘lowballing’ whistleblower, court hears June 19, 2018 A former Barclays trader on trial for allegedly rigging the Euro Interbank Offered Rate (Euribor) was a whistleblower for the lowballing scandal that rocked the banking industry, a court has heard. "Lowballing" is a term used to describe the scandal that engulfed European and British banking when some banks during the credit crisis moved [...]
South Western Railway gears up for three days of union strike action this week June 18, 2018 Further strike action will hit South Western Railway (SWR) this week as clashes with the Rail, Maritime and Transport (RMT) union show no signs of abating. The RMT has instructed members not to carry out their duties from the morning of Thursday 21 June to midnight on Saturday 23 June. The three-day strike has been [...]
