Why the US Supreme Court could be in for a change from Trump November 9, 2016 Donald Trump's election could not only change the political landscape of the US, but the legal layout too. The country's Presidents are responsible for nominating new justices to Supreme Court whenever there happens to be a free slot going. Following the passing of Antonin Scalia in February, there's currently a seat that needs to be filled. The [...]
What the Donald Trump win means for your pension pot November 9, 2016 Given all the excitement this morning, your retirement funds might be the last thing on your mind, but you might want to take a moment or two to ponder your pension after all. The fallout from Donald Trump's election win might call for some careful thinking about pension pots, industry experts have warned. Trump's somewhat [...]
Thinking of switching to Co-op Bank? Here’s why you should move quick November 9, 2016 Those weighing up their options for a new current account might want to make their move before the end of this week. Co-op Bank's £150 bonus for those switching to one of its current accounts is ending on Friday. The bank started offering the sweetener six months ago, and, since then, current account sales have rocketed [...]
Bank shares tanked on Donald Trump’s triumph November 9, 2016 Banks' shareholders were clearly less than thrilled about who won the race to the White House this morning, but are learning to live with it this afternoon. After dipping initially this morning, shares for the big banks listed in London have now recovered. Shares in HSBC are currently up 0.1 per cent at 620.6p, Lloyds Banking Group [...]
Why Deutsche Bank thinks the ECB is in for a tougher time following the Trump victory November 9, 2016 Donald Trump's triumph at the US elections could cause Mario Draghi some headaches, according from Deutsche Bank. In a note published early this morning, when Trump's win was clearly on the cards but not yet officially announced, the bank noted a combination of factors that could possibly be triggered by the result – a downward drag on [...]
Calls for banks to be protected in Brexit as sector’s total tax bill rises to £34.2bn November 9, 2016 The amount of taxes generated by the UK’s banking sector has risen to £34.2bn in the year to March, underscoring the importance of financial services to the wider economy. The figures, revealed today, have generated fresh calls to defend the City during upcoming Brexit negotiations. A study published today by professional services firm PwC on behalf [...]
Barclays is selling its Irish insurance unit, as it continues to ditch its non-core business November 8, 2016 Barclays announced today it has agreed to sell its Irish insurance business, marking the latest step in a long journey to scale back its non-core business. The bank will sell Barclays Insurance (Dublin) Designated Activity Company and Barclays Assurance (Dublin) Designated Activity Company to Monument Re for an undisclosed sum and the deal is expected to [...]
Article 50 rematch: Supreme Court hearing dates announced November 8, 2016 Government's appeal to the Supreme Court for the Article 50 case is officially on. The highest court in the country announced today it has set aside four days between 5 and 8 December to hear the appeal, although exactly how long the case will last will depend on what further legal submissions are received. All 11 of [...]
Biggest banks must bolster bail-in funds to reduce rescue risk, says Bank of England November 8, 2016 Big banks have until 2022 to boost their bail-in resources to the point where they should not need to be bailed out if the economy turns south, the Bank of England has noted today. Bail-in funds refer to special kinds of debt which a bank can call in for equity if it needs to, essentially meaning investors [...]
Tesco Bank fraud attack “unprecedented”, says City watchdog chief November 8, 2016 The head of the City watchdog has today called the attack which has hit thousands of Tesco Bank customers over the weekend "unprecedented and serious". Andrew Bailey was speaking in front of the influential Treasury Select Committee, where he acknowledged there was a shortage of talented tech staff within the banking sector and that the complexity of lenders' [...]
