Barclays suspend Chelsea FC bank account: Reports March 11, 2022 Barclays has temporarily suspended Chelsea FC’s bank account as it assesses the impact of sanctions, according to multiple reports. The club’s owner Roman Abramovich was placed on the UK’s sanctions list yesterday morning over his links to Vladimir Putin and his part-ownership in a firm allegedly linked to the production of Russian military equipment. The [...]
Ashtead weathers pandemic storm with revenue on the up March 8, 2022 Industrial equipment group Ashtead beat market expectations for its third quarter this morning, with revenue up 23 per cent, and rentals booming 25 per cent. The owner of Sunbelt Rentals in the UK, USA and Canada made significant investment in the past year, including $1.7bn (£1.3bn) in capital in the last quarter, with 81 locations [...]
Supporting your employees with their mental health in 2022 March 3, 2022 In the UK an estimated 91 million workdays are lost every year due to mental health problems and the ongoing pandemic has unfortunately been a catalyst in increasing stress and anxiety. Our pioneering mental initiative This is Me aims to change attitudes towards mental health in the workplace by reducing stigma, dispelling myths and raising [...]
FCA fines Barclays for oversight failings as bank agrees to compensate customers of collapsed Premier FX February 28, 2022 City watchdog the Financial Conduct Authority (FCA) said this morning it has fined Barclays Bank £783,800 for oversight failings in its relationship with collapsed payments firm Premier FX. Barclays was Premier FX’s sole banker in the UK. “The financial penalty takes into account that Barclays has agreed voluntarily to cover the losses of Premier FX [...]
Lloyds Bank’s profits in the lift as lender’s mortgage book surges to £293bn February 24, 2022 Lloyds Banking Group has become the latest lending giant to post a bumper annual profit haul after releasing Covid loan loss provisions thanks to the UK’s economic recovery. The group has reported pre-tax profits surging to £6.9bn in 2021, up from £1.2bn the previous year after releasing Covid loan loss provisions thanks to the UK [...]
City banks launch record recruitment drive February 24, 2022 The City banking jobs market is booming as lenders rush to reverse jobs cuts launched during the pandemic, reveals fresh figures published today. The UK’s top banks are looking to hire nearly 3,000 new candidates, according to research by recruiter Morgan McKinley and Vacancysoft. A shortage of skilled workers is intensifying competition between City banks [...]
Bumper results ease Russia-Ukraine fears in the City February 23, 2022 London’s top indexes were muddled yesterday despite some of the City’s largest companies reporting bumper results, boosting investor sentiment. The capital’s premier FTSE 100 index edged 0.05 per cent higher to 7,498.18 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, lost 0.72 per cent to [...]
Barclays freezes ex-boss Staley’s bonus until Epstein dispute resolution February 23, 2022 Barclays has frozen all scheduled bonus payments to its former boss Jes Staley until a dispute between he and Britain’s financial regulators over the way he characterised his relationship with sex offender Jeffrey Epstein is resolved. The high street lender said today all bonus payments, which amount to around 70 per cent of Staley’s total [...]
Champagne in Canary Wharf as Barclays profits more than double to £8.4bn but Jes Staley’s bonus suspended February 23, 2022 Barclays has revealed pre-tax profits soared to £8.4bn in 2021 as it released cash set aside for pandemic loan losses and notched up record investment banking earnings. The banking giant more than doubled profits from £3.1bn in 2020 thanks to the release of £700m in bad debt provisions, compared with £4.8bn set aside for Covid [...]
Barclays freezes share awards for ex-boss as Staley fights Epstein probe February 22, 2022 Barclays has frozen share awards to Jes Staley, its former chief executive, as he contests the an investigation into his ties with Jeffrey Epstein.