Poor hiring decisions are costing businesses thousands of pounds February 6, 2017 Bad hiring decisions are routinely leaving five digit holes in businesses' budgets, research out today has found. In a survey by CV-Library, two-thirds (66.1 per cent) of recruiters confessed they had lost significant chunks of cash on a bad hiring calls. Meanwhile, just less than one in five (19.5 per cent) admitted a hire that [...]
The attorney general has revealed how much he was paid for the Article 50 case February 2, 2017 Bankers may be fearing a doughnut this earnings season, but the attorney general revealed today he has recently taken a zero bonus of his own. Jeremy Wright told MPs in the House of Commons today that he and the advocate general for Scotland "received no additional fee for our work on the case". Wright also said [...]
It’s official: The City has the most high earners in European finance – with one asset manager raking in £29m in one year February 2, 2017 The likes of Frankfurt and Dublin might be bent on enticing London's bankers after Brexit, but if you're bent on earning the big bucks, the City is the only place to be. New figures have found the UK plays host to 80 per cent of the top earners in the region's finance sector. The paper, [...]
Six people, including two HBOS bankers, jailed for more than 47 years between them February 2, 2017 Two former HBOS bankers are among six people who have today been jailed for almost 50 years between them for a scheme which ran businesses into the ground for their own personal gain, generating losses of around £250m for the now collapsed bank. Lynden Scourfield, 54, once head of the HBOS department responsible for businesses in financial [...]
Coutts & Co told to pay £5m by Swiss watchdog for anti-money laundering failures in dealings with 1MDB February 2, 2017 Coutts & Co has today been ordered to pay CHF 6.5m (£5.2m) by Swiss watchdog Financial Market Supervisory Authority (Finma) over anti-money laundering failings in its dealings with scandal-hit Malaysian 1MDB. The watchdog, which launched enforcement proceedings last year, claims the private bank "failed to adequately clarify the circumstances surrounding a number of business relationships and unusually large, high-risk transactions". [...]
ING grows its full-year profits, as bank gets going with restructuring plan February 2, 2017 ING announced this morning its full-year profits for 2016 have climbed, shortly after the bank revealed it was undergoing a massive restructuring which would shed thousands of jobs. The figures The Dutch bank boosted its net profits for the year to €4.7bn (£4.1bn), up 16 per cent compared with €4bn the year before. Meanwhile, underlying [...]
Deutsche Bank’s management board has promised it won’t be the first to leave London after Brexit February 2, 2017 Deutsche Bank does not plan to be among the first tranche of financial firms shifting jobs out of London because of Brexit woes. Speaking at the bank's annual results press conference today, Sylvie Matherat, the German giant's regulatory chief, said: "We will not be a first mover". Instead, Matherat said the bank would be keeping [...]
Bringing back the bonuses: Deutsche Bank chief executive hopes 2016 a one-off year for annual sweetener slashing February 2, 2017 Deutsche Bank's boss has his fingers crossed it can offer staff a better bonus deal this year, after the bank was forced to slash annual sweeteners significantly for 2016. When grilled on bonuses at a press conference for Deutsche Bank's annual results, John Cryan said: "We hope to resume normal service in 2017." The bank had a turbulent [...]
Deutsche Bank more than €1bn in the red for 2016 – but it’s better than last year February 2, 2017 Deutsche Bank has racked up losses of more than €1bn after a difficult 2016, but still improved significantly on the year before. The figures The struggling German banking giant reported a net loss of €1.4bn (£1.2bn) for 2016, although that is a €5.4bn improvement on 2015's €6.8bn loss. The bank also recorded net losses of €1.9bn in its fourth quarter, again [...]
This is the type of fraud you should be worried about the most, but there’s another one on the rise February 2, 2017 Identity fraud has taken the questionable crown of the worst type of fraud in the UK today. The list, published today and compiled by Centre for Counter Fraud Studies at University of Portsmouth and Privilege Home Insurance, ranks fraud affecting individuals based on; the percentage of people subject to an attack, the average value of losses, the [...]
