Consumer interest group calls on watchdogs to tackle bank transfer scams September 23, 2016 A consumer interest group has today turned up the pressure on financial watchdogs by launching a super complaint into bank transfer scams. Research from Which? has found three out of five (60 per cent) of people don't realise there is no consumer protection from their bank if they are fraudulently tricked into making a bank transfer. Meanwhile, [...]
EU gets a dressing down from World Trade Organisation over Airbus subsidies September 22, 2016 The World Trade Organisation (WTO) had some harsh words for the EU today, ruling it had failed to rein in billions of dollars worth of subsidies granted to Airbus. The decision is the latest in a back-and-forth battle over aircraft subsidies, which has been going on across the Atlantic for over a decade. In particular, today's findings [...]
Workplace pension scheme member levels hit record highs, but experts warn enough still not being done to prepare for retirement September 22, 2016 The number of people with a workplace pension has soared to its highest level yet, but pensions experts have warned people still are not doing enough to get ready for their golden years. According to figures released from the Office for National Statistics (ONS) today, total membership of occupational pension schemes in the UK rose to 33.5m [...]
Barristers need to keep tabs on what tech means for their profession, warns chairman of the Bar September 22, 2016 Legal eagles need to think long and hard about what exactly technology means for the future of their profession, the chairman of the Bar has cautioned. Speaking yesterday at the International Bar Association conference in Washington, Chantal-Aimee Doerries QC warned certain aspects of the modern working world, including commercial pressures, red tape and political problems as well as technology, risked undermining [...]
Three former Tesco executives have pleaded not guilty to fraud charges September 22, 2016 Three former Tesco executives today pleaded not guilty at Westminster Magistrates' Court on charges stemming from the fraud squad's probe into accounting issues at the supermarket giant. Former finance director for Tesco UK Carl Rogberg, 49, ex-UK managing director Christopher Bush, 50, and ex-commercial director for food John Scouler, 48, were each charged earlier this month with one [...]
Leavers and Remainers across politics and business unite to launch new Brexit forum September 22, 2016 A new Brexit group which brings together Remainers and Leavers from the worlds of business and politics is set to formally launch on 19 October. The Financial Services Negotiation Forum, or FSNForum for short, will aim to produce "neutral, evidence-based research" on the key issues surrounding the impending Brexit negotiations. FSNForum's honorary advisory council will be chaired [...]
Morgan Stanley and Blackrock presidents warn Brexit will shrink London’s financial crown September 21, 2016 London's financial industry woke up this morning to a fresh warning that Brexit could cap the size of the sector in the City. Blackrock president Rob Kapito noted that multinationals with a UK presence would now be carefully considering their options relating to how much of their business they kept in the country. "I don't think [...]
How regional law firms are giving City peers a run for their money September 21, 2016 Growth at regional law firms is safely outpacing that of their City peers, a study released today has found. A third (33 per cent) of regional firms grew their revenue by over 10 per cent over the last year, compared with around a quarter (27 per cent) of City firms, according to Crowe Clark Whitehill's most recent law firm [...]
How this challenger bank used the Brexit vote as an opportunity and broke even in less than a year September 21, 2016 New company founders are frequently told to plan to spend their first few years languishing in the red. Now one challenger bank has proved it is possible to buck the trend, and the recent Brexit vote may have given it a nudge in the right direction. OakNorth Bank today revealed it has broken even and inched into profitability, [...]
Banking shares bolster FTSE 100…except for RBS September 21, 2016 Banks' investors have a reason to celebrate this morning, as share prices among lenders are on the rise – with the exception of RBS. At time of writing, Barclays is the biggest riser of the FTSE 100, while shares in HSBC, Standard Chartered and Lloyds Banking Group are also up, after the Bank of Japan [...]
