Standard Chartered to cut around 100 jobs worldwide as bank seeks to cut costs by $1bn – reports June 8, 2023 Standard Chartered is laying off employees across Singapore, Hong Kong and London following a series of cuts across the sector in recent months. According to Bloomberg News, the bank could cut over 100 employees although it is yet to determine a final number. In Asia, roles have been cut in middle-office functions, like human resources [...]
Is Bitcoin a threat to the environment, or its saviour? June 8, 2023 We're all going to hell in a handcart, or floating off to 'Green Heaven', but let's at least do it in an environmentally friendly way, begs Monty.
Fintech firm CAB Payments plots London listing in boost to the City June 8, 2023 A fintech firm has revealed plans to float on the London Stock Exchange today and hailed the capital as a “home for innovative and growing global businesses”, in a boost for the Square Mile after a bruising few months. CAB Payments, a specialist cross-border payments and foreign exchange firm, announced plans to float on the [...]
London’s workspace occupancy ‘higher than before the pandemic’, says Argyll boss June 8, 2023 The boss of London’s oldest office provider Argyll has said he has seen “unprecedented” levels of office occupancy in the last six months, defying concerns that Covid-19 had permanently pushed Londoners toward homeworking. Speaking to City A.M. Argyll chief executive John Drover said that rates of occupancy had reached 90 per cent, with the firm [...]
Crypto bulls run out of steam as market volatility continues June 8, 2023 The price of Bitcoin continues to trade in the range between $26k and $27k, while Ether follows a similar trading pattern.
M&G set to lose four per cent of staff as Rossi continues cost-cutting drive June 8, 2023 Asset manager M&G said more than 200 staff had applied for its voluntary redundancy programme today as it revealed a £400m boost in flows in the three months to the end of March.
FCA’s new crypto advertising rules met with mixed industry response June 8, 2023 A round-up of industry reaction to the FCA's sweeping new rules surrounding the marketing and promotion of digital assets.
Sharon White: John Lewis will be profitable in three years June 8, 2023 John Lewis boss Sharon White has reportedly not ruled out tapping up outside investment to bring the struggling upmarket retailer back to profitably by 2026, however vowed that the would remain business employee owned. White told members of the Employee Owned Association – which represents UK organisations which are employee owned- that the plan to [...]
MPs pile pressure on banks as savings offers lag interest rate hikes June 8, 2023 MPs said that lenders must “up their game” and pass on higher rates to savers as bank bosses responded to an inquiry on the “measly” rates on offer. The influential Treasury Committee pointed to low rates on offer for easy access accounts across the UK’s ‘scale challengers’, Nationwide, TSB, Virgin Money and Santander. According to [...]
Hitachi billion-pound deal to buy UK signalling could hurt TfL: regulator June 8, 2023 The UK’s competition watchdog has provisionally ruled that Hitachi’s 1.7 billion euro (£1.36 billion) proposed purchase of Thales’s rail infrastructure could drive up prices and reduce service quality for passengers. The findings could lead to the merger being blocked. The Competition and Markets Authority (CMA) said the deal involves two of the leading suppliers of [...]
