Credit Suisse continued enabling tax evasion after 2014 settlement with DoJ, US Senate finds March 29, 2023 Credit Suisse violated a settlement agreement with the US Department of Justice as it continued to help wealthy Americans to avoid paying tax, a Senate investigation has alleged. The probe, which took two years to complete, accused the lender – which will shortly be taken over by UBS – of committing “major violations” following its [...]
FCA boss pledges to review listing rules to avoid another Arm snub March 29, 2023 The chief of the Financial Conduct Authority has pledged to review the UK's listing rules after several British firms ditched the City and opted for New York listings.
‘Sink or swim’: Delayed update leaves UK’s £4bn open banking sector in limbo at critical moment March 29, 2023 The UK’s £4bn open banking sector faces a “sink or swim moment” as the industry awaits a crucial update on the future of the industry in the coming weeks, a lobby group has warned. Open banking, which was first rolled out by regulators in 2017 to force dominant high street lenders to open up their [...]
Mortgage approvals snap back following mini budget chaos, but net lending at lowest since 2016 March 29, 2023 Mortgage approvals have improved for the first time since August, as the market begins to shake off the stress of the mini-budget, however experts have warned that the housing market will “remain price sensitive”. According to the Bank of England’s Money and Credit report for February, net mortgage approvals for house purchases increased to 43,500 [...]
Bank of England backs ‘substantial’ LDI cash buffer boost to prevent repeat of mini budget chaos March 29, 2023 Pension funds that borrow hundreds of billions of pounds to maximise returns for clients need to keep more money aside to withstand a repeat of the financial market aftershocks which followed Liz Truss’s mini-budget, the Bank of England has recommended. Liability driven investment (LDI) funds that are used by retirement funds to boost returns for [...]
Is the UK about to tick one of its ‘Asia tilt’ boxes by joining CPTPP Indo-Pacific trade bloc this week? March 29, 2023 The UK is set to join the key CPTPP Indo-Pacific trade bloc later this week, according to reports. Negotiations have been ongoing to secure Britain’s entry into the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) since early 2021. And sources have now said the UK’s entry into the pact is “agreed” and “confirmed”, according [...]
PMQs’ Sketch: Angela Rayner, Kim Possible and Dom Stoppable March 29, 2023 She’s your basic average girl, and she’s here to save the world.
Crypto AM Spring Awakening: Announcing Damex as a headline partner March 29, 2023 Crypto AM is delighted to announce digital asset group Damex as a headline partner for the Crypto AM Spring Awakening event.
What next for Waitrose? Supermarket quits Planet Organic talks after John Lewis fiasco March 29, 2023 Waitrose has pulled out of secret talks to acquire a stake in rival health supermarket Planet Organic. The high-end supermarket, which is part of the John Lewis Partnership, ceased discussions late last week about a possible agreement, according to reports first published in Sky News, Sources told the outlet that the deal would have meant [...]
End of the road: Why More Than will no longer sell car insurance as insurer RSA quits market March 29, 2023 RSA has set out its plans to exit the car insurance business in the face of “extremely competitive” market conditions. In a statement, RSA said it had struck an agreement to “introduce” car insurance customers held through its More Than business to UK rival Swinton, with a view to boosting its business, home and [...]
