Top City lobbying group says Brexit is a once-in-a-generation chance to boost UK trade and investment January 31, 2017 An influential City lobby group believes Brexit is a once-in-a-generation opportunity to boost trade and investment into the UK – despite having previously campaigned to remain in the European Union. TheCityUK says post-Brexit trade agreements could enhance London's status as a leading financial capital and could also create new growth opportunities for the sector across the UK. In [...]
Two ex-HBOS bankers among six convicted over corruption which cost the collapsed bank £250m January 30, 2017 Six people, including two ex-HBOS bankers, have been convicted over claims they drove businesses into the ground for their own gain, running up losses of around £250m for the now collapsed bank. Former banker David Mills, 60, his wife Alison Mills, 51, his associates Michael Bancroft, 73, and Tony Cartwright, 72, and HBOS employee Mark Dobson, 56, were all found [...]
Goldman Sachs, JP Morgan and Morgan Stanley bosses rally behind staff after Trump travel ban January 30, 2017 The bosses of three US banking giants have moved to reassure staff after President Donald Trump introduced a travel ban over seven majority Muslim countries. In a voicemail sent to staff yesterday evening, Goldman Sachs chief executive Lloyd Blankfein hit back at the policy, saying: "This is not a policy we support, and I would note that it has [...]
Digital cash has created an unlevel lending playing field, with big banks benefitting to the tune of £23bn January 30, 2017 NULL
Treasury Select Committee chair hits back at chancellor over rules which could have blocked HBOS review January 30, 2017 The chair of the influential Treasury Select Committee has written to the chancellor, slamming powers which could have been used to block reviews into recent high-profile scandals like HBOS. In a letter dated last Tuesday, but not published until today, Andrew Tyrie warned Philip Hammond that powers granted to the Treasury to push the stop button on [...]
Tom Hayes expected to launch next stage of Libor appeal this week, as convicted Barclays pair due in front of Court of Appeal January 29, 2017 Tom Hayes, the first person in the UK to be found guilty of playing a role in the Libor-rigging scandal, is due to kick off the next stage of his appeal against his conviction in the coming days. City A.M. understands the former UBS and Citigroup trader will likely file his appeal to the Criminal Cases [...]
Amanda Staveley’s legal row with Barclays to reach crunch point this week January 29, 2017 It's a critical week for Amanda Staveley's legal battle with Barclays, with a judge due to decide whether the City financier can have access to documents key to her case. PCP Capital Partners, the investment vehicle Staveley founded, is suing the banking giant for almost £1bn over the way it handled a 2008 emergency fundraising. PCP [...]
Deposit protection limit for savings to be bumped back up to £85,000 tomorrow January 29, 2017 Savers will have an extra £10,000 safeguarded as of tomorrow, as the deposit protection limit is increased back up to £85,000. The deposit protection limit under the Financial Services Compensation Scheme (FSCS), which is designed to protect consumers' cash should lenders run into hot water, was cut to £75,000 last year in an effort to put [...]
