ESG: City firms feel pressure of rule changes as clampdown on greenwashing expanded by regulators February 13, 2023 City firms are feeling the pressure of impending environmental, social and governance (ESG) rules this year as regulators expand plans to clampdown on greenwashing, new research has found. Financial firms in the UK have pointed to rules on sustainability as the main pinch point facing them for a second year running, ahead of a major [...]
Citi eyes £6.6bn sale of Mexican bank Banamex as it retreats from international markets February 13, 2023 Citigroup is nearing the sale of its Mexican retail bank Banamex in a deal that would be worth $8bn (£6.6bn), the Financial Times reported, despite government interference scaring off potential bidders. According to three people familiar with the matter, the owner of Mexico’s largest mining company, Germán Larrea, is in exclusive talks to purchase Banamex. [...]
Crypto narratives: Industry comes to Turkey’s aid, and SEC moves against staking February 13, 2023 CryptoCompare data has shown that there was a 2.7% drop in the combined market cap dominance of BTC, ETH, and stablecoins.
Goldman Sachs boss admits job cull should have been made sooner when ‘slowdown’ was apparent February 13, 2023 David Solomon told a gathering of Goldman Sachs executives that he should have cut jobs and slowed the investment bank’s hiring of new staff earlier in 2022 . Solomon was reported by the Financial Times as telling colleagues he had been too slow to reduce Goldman’s headcount. “As the environment was growing more complicated in [...]
Brexit delivered £1,000 blow to every UK household, Bank of England rate setter Haskel claims February 13, 2023 The sharp reduction in business investment after Brexit has dealt a £1,000 blow to every UK household, a rate setter at the Bank of England has claimed. Speaking to The Overshoot, Jonathan Haskel, an external member of the monetary policy committee (MPC), said that the “productivity penalty” caused by a huge drop in capital spending [...]
MJ Hudson: EY quits as auditor after it ‘lost trust and confidence’ in firm’s management February 13, 2023 EY has resigned as MJ Hudson’s auditor after losing trust in the company’s ability to “provide us with accurate and reliable information for audit”. The embattled asset manager received the news in a letter from the Big Four accountancy firm this morning in which EY said it would be resigning with immediate effect. In it’s [...]
Share price plunges for delivery firm DX Group after confirmation of legal claim by rival February 13, 2023 Courier firm DX Group has seen its shares plunge after confirming that a legal claim has been lodged against it by a rival logistics company, accusing it of alleged corporate espionage. Shares in DX tumbled as much as 11 per cent on Monday morning after it said that Tuffnells Parcels Express submitted the claim in [...]
Top Tory businessman quits for Labour over ‘f*** business’ attitude February 13, 2023 A top Tory businessman and LGBT+ champion has quit the Conservative party after almost two decades over the alleged ‘f*** business’ attitude and response to culture war issues. Iain Anderson, founder of PR firm Cicero and chairman of LGBT+ charity Stonewall, has abandoned his longstanding party membership and vowed to support Keir Starmer’s Labour Party [...]
Energy: UK forked out £90bn protecting customers from Russian supply squeeze as Europe spent £700bn February 13, 2023 European countries have forked out over £700bn to shield businesses and households from soaring gas prices since the energy crisis began.
Monday blues for Bitcoin as crypto markets struggle for support levels February 13, 2023 Bitcoin is currently trading under $21,600 while the price of Ethereum has fallen by three per cent since yesterday.
