SoftBank executive steps back from key roles after record losses August 31, 2022 SoftBank’s executive Rajeev Misra has stepped down from his roles as corporate officer and executive vice president as the investment giant reels from record losses this year.
NatWest forced to dish out £600,000 refunds after breaching banking rules August 31, 2022 The UK’s competition watchdog has forced NatWest to dish out £600,000 in refunds after it ruled the bank breached rules by forcing business customers to open “costly” current accounts to access loans.
Klarna losses more than triple as costs soar August 31, 2022 Losses at buy-now pay-later giant Klarna more than tripled in the first six months of the year as the Swedish fintech was hit by soaring employee costs and rising credit losses as it ramped up its expansion in the US.
Laybuy to share data with credit agencies as BNPL firms clampdown on borrowing August 31, 2022 Laybuy has become the latest buy-now pay-later firm to commit to sharing customer data with credit rating agencies today as the sector looks to clampdown on vulnerable shoppers taking on unaffordable debt.
‘Break the chains’ of regulation holding back challenger banks, MPs say August 30, 2022 A “one-size-fits-all” approach to regulating UK lenders has failed and watchdogs need to “break the chains” restricting the growth of challenger banks, a group of MPs said today.
Tight labour market is main threat to UK firms, business chiefs warn August 30, 2022 A tight labour market is threatening to choke off growth in UK firms this year as bosses struggle to attract and retain staff, a new survey has revealed.
Wise hit with £308,000 fine in Abu Dhabi over money laundering failures August 30, 2022 London-listed fintech firm Wise has been slapped with $360,000 (£307,801) fine by Abu Dhabi regulators today after a series of failures in its anti-money laundering controls.
Investor confidence is ‘the lowest we have seen’, warns Hargreaves Lansdown chief August 30, 2022 The chief of retail investment platform Hargreaves Lansdown warned that investor confidence was at an all time low today as he encouraged Brits to shrug off the “short term volatility” that has rocked equity markets this year.
Payments platform Bango snaps up Japanese firm Docomo Digital August 30, 2022 Bango provides a payments platform for firms including Netflix, Britbox and Youtube
Monday read: Five day week is ‘in many cases not fit for purpose’, says Atom Bank chief August 29, 2022 The concept of a five day working week is " in many cases no longer fit for purpose for 21st century businesses”, the chief of digital lender Atom Bank said today as he hailed the success of a four day week at the firm.
