Staff at British banks ‘forced to turn off NHS Covid tracing app at work’ October 8, 2020 Branch staff at some of the UK’s biggest banks say they are being put at risk by rules that require them to keep their phones in lockers at work, leaving them unable to use the NHS Covid-19 contact tracing app. Lloyds and TSB are among the lenders advising employees in branch to deactivate the contact [...]
UK and EU should reach trade deal, says BoE governor Andrew Bailey October 8, 2020 Bank of England governor Andrew Bailey said he believed the UK and European Union should be able to reach a trade deal. “I do think it is in the interests of both sides – let’s be blunt – to get an agreement,” he said. Read more: BoE’s Andy Haldane warns against ‘Chicken Licken’ economic pessimism [...]
Optimism rises among financial services firms as business volumes stabilise October 8, 2020 Optimism within the financial services sector increased for the first time in three quarters as business volumes showed signs of stabilising following the initial shock of the coronavirus crisis, a new survey showed. Sentiment among finance firms rose nine per cent in the three months to the end of September, according to the Confederation of [...]
Government to crack down on pre-pack administration conflicts October 8, 2020 Pre-pack administrations involving people connected to the insolvent company are set to come under greater scrutiny in a bid to make the process more transparent. Pre-pack sales where connected parties, such as the insolvent company’s shareholders or directors, are involved in the process will be required by law to undergo independent scrutiny, the government announced [...]
UK examining how to reduce travel quarantine period using tests October 7, 2020 The UK is urgently looking into ways to reduce the 14-day travel quarantine period which applies to some passengers arriving in the country, transport secretary Grant Shapps said. Shapps said that a mixture of Covid-19 testing and self-isolation was promising, and announced the formation of a Global Travel Taskforce to open up international travel, which [...]
Just Eat Takeaway shareholders back Grubhub deal but reject US chief’s pay October 7, 2020 Shareholders of online food delivery giant Just Eat Takeaway have approved its proposed $7.3bn (£5.6bn) acquisition of US rival Grubhub, but rejected a pay package for the company’s US chief executive. The group agreed to buy Grubhub in June in an all-share deal that would make the combined group the biggest food delivery company outside [...]
Prepare for Libor’s demise, City regulator tells markets October 7, 2020 Financial markets need to prepare themselves for regulatory announcements about the Libor benchmark interest rate ceasing at the end of next year, the City watchdog said. “Market participants need to be ready for announcements later this year setting out what will happen at the end of 2021,” the FCA’s director of markets, Edwin Schooling Latter, [...]
Banking industry group UK Finance names David Postings as new boss October 7, 2020 UK Finance, the banking lobby group, has appointed David Postings as its new chief executive to help steer the industry through the Covid-19 crisis. Postings, who recently stepped down as global chief executive of Bibby Financial Services, will take up the role at the start of next year, UK Finance said. He had previously held [...]
On the brink: SMEs cut off from bounce back loans as banks close to new customers October 6, 2020 Small businesses are being shut out of potentially life-saving bounce back loans (BBLs) because lenders are turning down new customers, despite the funds being fully guaranteed by the government. City A.M. has spoken to a number of businesses who have had applications to set up new business accounts with lenders rejected, often without explanation. Many [...]
Goldman Sachs ‘to name fewer than 60 partners’ in 2020 October 6, 2020 Goldman Sachs will reportedly name no more than 60 partners this year, but partners will be given more financial perks as the investment banking giant seeks to make its partnership more exclusive. The bank’s new class of partners, due to be promoted next month, is likely to be Goldman’s smallest cohort since the 1990s, the [...]
