Time lapse at UBS as CRO Bluhm delays planned photography career April 24, 2023 UBS’ chief risk officer Christian Bluhm postponed plans to focus on his photography today as the bank confirmed he will stay for the “foreseeable future” to handle the acquisition of Credit Suisse. Bluhm, who has been in place since 2016, was planning to handover to Damian Vogel on 1 May. Bluhm had been hoping to [...]
Standard Chartered, Barclays, Natwest kick off UK bank earnings this week with interest income back in focus April 24, 2023 Profit looks set to increase at the UK’s largest lenders as they line up to report first quarter earnings over the coming two weeks. The FTSE banking giants have seen relative stability over the last few weeks following the extreme volatility in March, but this stability means investors will refocus their attention on other major [...]
Who could take over from the CBI? April 24, 2023 Britain’s biggest business organisation, the CBI, has been engulfed by a toxic scandal which threatens to see it collapse. Allegations of rape, sexual attacks and harassment have seen the Confederation of British Industry’s (CBI) brand damaged “beyond repair”, according to one business leader. A flood of firms announced they were quitting the lobbying group, which [...]
HSBC faces more shareholder pressure as Pirc urges investors to vote against re-election of Noel Quinn April 23, 2023 HSBC faces yet more trouble at its upcoming AGM as shareholder advisory firm Pirc urges shareholders to vote against the re-election of chair Noel Quinn, according to a report in the Mail on Sunday. Justifying the recommendation, the investment advisory firm highlighted the bank’s alleged links to Hong Kong human rights abuses. Pirc said: “While [...]
UK borrowing tipped to have jumped to £23bn in March but Hunt and Sunak are on course to hit OBR forecasts April 23, 2023 Britain is tipped to have borrowed nearly £23bn last month to help pay for capping energy bills at £2,500, according to City analysts’ consensus forecast. Fresh numbers out from the Office for National Statistics on Tuesday are expected to show the gap between what the government generates in revenue from taxes and spends on public [...]
CBI exodus: Which firms have quit or suspended their relationship with the lobby group? April 21, 2023 A slew of top firms have quit or suspended engagement with the CBI today after the lobby group was rocked by new allegations of sexual abuse.
FTSE 100 close: London index muted as Barclays and Lloyds Bank give up early gains April 20, 2023 London’s FTSE 100 was muted today as investors ditched mining giants, curbing the sector’s recent rally, while high street banks gave up strong early gains. The capital’s premier index edged 0.01 per cent high to 7,899.48 points, while the domestically-focused mid-cap FTSE 250 index, which is more responsive to sentiment toward the UK economy, nipped [...]
Women in Payments Europe 2023 Unites Industry Trailblazers in London April 20, 2023 City A.M. is excited to announce that it will be a media partner for Women in Payments Symposium 2023. This year our symposium is taking place in London – Europe’s major fintech hub and a great place to host a major payments event for good reasons. As a leading global financial centre, the UK capital [...]
FCA will ‘keep its eyes’ on banks’ Q1 results for evidence of savings rate profiteering April 20, 2023 Savers are facing a rising “loyalty penalty” from high street banks, the Financial Conduct Authority (FCA) has warned. Customers banking with the UK’s big name lenders are likely to earn less competitive interest rates on their savings over time, while new savers are given more attractive offers, the City watchdog told MPs today. “Harm” from [...]
Mark Kleinman: The CBI’s arrogance has been breathtaking April 20, 2023 The CBI has failed to manage a crisis of its own making, says Sky News' Mark Kleinman in his fortnightly column