Credit card firms must cut fees for those in persistent debt, says watchdog February 3, 2020 Credit card providers must cut or stop fees for those who are caught in a cycle of persistent debt, the financial watchdog has said. In a letter to the chief executives of credit card firms this morning, the Financial Conduct Authority said lenders must come up with a repayment plan for customers who have been [...]
London retains crown as top renminbi hub as trading hits record levels February 3, 2020 London has retained its position as the leading hub for trading the renminbi outside of greater China, with cross-border trading of the Chinese currency hitting record levels. Nearly 3 trillion yuan (£328bn) was cleared by the UK’s designated renminbi clearing bank between September and November last year. This represents a year-on-year increase of almost 23 [...]
AIM and FTSE Small Cap firms ‘falling behind’ on board diversity February 3, 2020 London’s FTSE Small Cap (SMC) and AIM exchanges are lagging behind their larger peers when it comes to diversity on company boards, according to a new report. A mere 15 per cent of AIM directors are women, while over a third of companies listed on the market have all-male boards, according to a study by [...]
Johnson says Australian model on the cards for UK–EU trade deal February 2, 2020 Boris Johnson will today fire the starting gun on trade negotiations with the European Union, with the government floating the idea of a looser Australian-style deal if a more comprehensive arrangement cannot be agreed. In a speech today the prime minister will say the UK is aiming to negotiate a Canada-style free trade deal, “but [...]
Report to slam FTSE boards as ‘complacent’ on ethnic diversity goal February 2, 2020 Britain’s biggest public companies will this week be accused of complacency over a target to appoint a non-white director by the end of 2021. The Parker Review, led by City grandee Sir John Parker, outlined the target in 2016. In a progress report set to be published on Tuesday, Parker will slam FTSE firms for [...]
New RBS boss Alison Rose to be based solely in London February 2, 2020 New Royal Bank of Scotland chief executive Alison Rose is to be based solely in London, even though the state-owned lender is headquartered in Edinburgh. Rose’s employment contrast lists RBS’s office on Bishopsgate as her sole place of work, the Sunday Times reported. Her predecessor, Ross McEwan, had a contract for London and Edinburgh. Rose, [...]
Brexit: Boris Johnson set to reject regulatory alignment in EU trade negotiations February 2, 2020 Boris Johnson’s government has set out a tough opening stance ahead of trade talks with the European Union, indicating it will reject any trade deal that includes “high alignment” with the bloc. “We are taking back control of our laws, so we are not going to have high alignment with the EU, legislative alignment with [...]
St James’s Place overhauls pay and perks after scrutiny February 2, 2020 St James’s Place is set to overhaul its pay and perks programmes following intense scrutiny of the incentives offered to partners, including cruises and white-gold cufflinks. Bosses at Britain’s largest wealth manager have told staff the changes will reward “the right behaviours” and go beyond recognising sales made in a single year, according to the [...]
Exclusive: Politicians slam House of Fraser for continuing to sell Presidents Club clothing line January 30, 2020 Politicians, businesswomen and equality campaigners have called on House of Fraser to stop selling a clothing line appearing to reference the Presidents Club dinner where businessmen allegedly groped hostesses. The Presidents Club annual dinner was plunged into scandal in 2018 after details emerged of attendees’ behaviour and revealing dresses hostesses were told to wear. The [...]
London business confidence soars to highest in UK following election January 30, 2020 Business confidence in London jumped during January as the decisive General Election result helped boost the morale of firms in the capital, figures released today show. The business confidence of London companies leapt 22 points to 38 per cent in January, reaching the highest level of any region, according to the latest Business Barometer from [...]
