Will.i.am says yes we can to Atom Bank, as rapper strikes consulting deal which could land him a multimillion pound stake in the challenger February 20, 2017 Will.i.am is expanding his CV in a perhaps unexpected direction, striking a consulting deal with Atom Bank which could see him take a multimillion pound stake in the fintech firm. The rapper and producer will act as a consultant and board adviser to the company as it seeks to make itself stand out in an increasingly crowded [...]
Government mulls handing watchdog more powers over struggling pension schemes, but experts warn suggestions not enough to prevent another BHS-style fiasco February 20, 2017 The government is considering handing the pensions watchdog more powers to regulate struggling or badly governed pension schemes. The Department for Work and Pensions' green paper on 'Security and Sustainability in Defined Benefit Pension Schemes', which was published today, is asking for feedback on a variety of pension issues. These include whether to extend the Pension [...]
Banks expect costs for non-financial risks to skyrocket over the next few years February 20, 2017 The majority of banks are fretting that the amount of cash they are expected to stockpile against risks like cybercrime, compliance failings and IT meltdowns is going to mushroom over the next few years. Sixty per cent of European banks believe the amount of capital they will be expected to hold to cover such non-financial risks [...]
No transition deal for UK’s clearing houses post-Brexit will hurt the other EU member states February 20, 2017 A transition deal for clearing in the UK must be decided on as soon as possible, or EU economies and banks will take a hit, a report out today is warning. The International Regulatory Strategy Group (IRSG), which carried out the study and is a regulatory advisory body for the City of London Corporation and [...]
Leading City think tank calls for Brexit bespoke deal ahead of chancellor Philip Hammond’s first Budget February 20, 2017 A leading City think tank is calling on the chancellor to fight for a bespoke Brexit deal as he prepares to deliver his first Budget speech in less than a month's time. TheCityUK's Budget submission notes a tailor-made deal with the EU "based on mutual recognition and regulatory cooperation that delivers similar market access rights [...]
Look away, investors: Global dividend levels barely budged in 2016 February 20, 2017 Global dividends inched up just 0.1 per cent in 2016, dragged down by lack of growth in shareholder payouts from US companies and sharp downturns from the UK and Australia. The figures released today as part of the Henderson Global Dividend Index found dividends around the world reached $1.154 trillion (£930bn) last year. While US dividends still [...]
TP Icap told to go back to the drawing board by investors over executive pay plans February 19, 2017 TP Icap's investors have rebuffed an executive pay plan which could have lead to senior executives taking home tens of millions. The newly-merged broker's reward plans would have paid up to £85m in shares over a three-year period, although the scheme would have only started paying out once almost £400m in shareholder value had been made. Although [...]
Analysts banking on Lloyds and Barclays to have steamed ahead during 2016, as other UK lenders struggle February 19, 2017 Analysts are predicting Lloyds Banking Group and Barclays will race ahead of the pack when the UK's big banks report their earnings this week. Lloyds, which will report its 2016 full-year figures on Wednesday, is forecast a statutory pre-tax profit of £4.4bn, more than double the £1.6bn it reported in 2015, when its earning potential [...]
Spanish Sabadell circling Co-op Bank, after challenger put itself up for sale last week February 19, 2017 NULL
Industry calls for corporate governance clampdown for private firms to avoid BHS-style scandals February 17, 2017 Business groups are urging the government to strengthen corporate governance rules for privately-run firms, or risk a repeat of high-profile scandals like last year's collapse of BHS. The UK's private companies are currently not held to the same set of standards as the country's listed companies. The Department for Business, Energy and Industrial Strategy is [...]
