The EU cracked the whip on cartels last year, while the US backed down January 5, 2017 Global fines for cartels rose to over $6bn (£4.9bn) last year, as a clampdown from the EU helped to push the figure higher, statistics out today show. Law firm Allen & Overy has calculated that fines for cartel involvement rose to $6.68bn worldwide in 2016, up 28 per cent compared with $5.2bn the year before, while the [...]
Small business owner with an hour to spare? Why not apply for a loan? January 5, 2017 Small business owners with an hour to spare can now use it to unlock some extra cash, thanks to a new service offered through Barclays' mobile banking app. The lender has been running a trial version of the service, which allows small business owners to apply for loans up to £25,000, since last November. But from today, [...]
Wall Street banks lead bonus charge as European lenders set to row back on mega payouts January 4, 2017 Top dealmakers at Wall Street’s banking titans are expected to take home the lion’s share of this year’s payouts as the split between bonus season winners and losers becomes more pronounced. Next week, the bonus season will kick off in earnest when Wall Street heavyweights JP Morgan and Bank of America report full-year results. “US banks [...]
Deutsche Bank’s head of financial crime quits after just six months in role January 4, 2017 Deutsche Bank's man in charge of fighting financial crime is leaving his role after just six months. Peter Hazlewood, a veteran of HSBC, JP Morgan and Standard Chartered, was appointed global head of anti-financial crime and group money-laundering reporting officer at the German banking giant last July. He was based in Frankfurt and reported to Sylvie Matherat, the [...]
Law Society chief executive hands in resignation January 3, 2017 Law Society chief executive Catherine Dixon has resigned today, citing concerns over the speed of governance reform at the solicitors' professional body. Dixon has been in her role for two years and the Society will announce plans for recruiting a new chief exec in due course. Noting he was "extremely grateful" for Dixon's "tireless and effective [...]
Banks could reveal more Brexit details in the next few weeks, but don’t expect them to spill everything January 3, 2017 Banks could release some more details on what they plan to do post-Brexit within the next few weeks, as they prepare to announce their full-year results. Many across the City have been concerned about what the final Brexit deal will have in store for them, and how financial institutions are going to react. In particular, there are [...]
