Lloyds sued by customers sold mortgages linked to house prices September 6, 2021 Lloyds Banking Group is being sued by 150 homeowners who were sold mortgages tied to house price appreciation. The case has been brought against the Bank of Scotland, now part of Lloyds, in the High Court. It pertains to shared appreciation mortgages which were sold to thousands of customers in the late 1990s, the product [...]
Naked protest: XR blocks roads after stripping off in HSBC and Barclays September 3, 2021 Extinction Rebellion protestors are blocking roads next to London wall after they stripped off clothing at HSBC and Barclays bank branches as part of demonstrations targeting the City of London. City of London police confirmed the demonstrators are sitting in the road near London Wall at the junction on Circus Place with officers attending the [...]
Naked protest: Extinction Rebellion strip off in HSBC and Barclays : CityAM September 3, 2021 Extinction Rebellion protestors stripped off their clothing at HSBC and Barclays bank branches as part of demonstrations targeting the City of London. The nude activists painted slogans on their bodies including “divest now,” “act now,” and “the naked truth” in an effort to call out big banks funding climate change. The demonstration follows a protest [...]
Telefonica ‘taps investment bankers at Barclays’ to find partner for Virgin Media O2 fibre rollout September 2, 2021 Virgin Media O2’s Spanish co-owner Telefonica has reportedly hired investment banks Barclays and LionTree to seek a partner to finance its fibre network rollout across the UK in Britain, according to Spanish media outlet El Confidencial.. Virgin Media O2, which merged together two dominant players in the home broadband and mobile industry last year and [...]
US financial markets watchdog chief warns cryptocurrency platforms will not survive without oversight September 1, 2021 The chief of the US financial markets watchdog has warned that cryptocurrency trading platforms are unlikely to have any future unless they collaborate with regulators. Gary Gensler, chairman of the Securities and Exchange Commission, that if the industry is going “to have any relevance five and 10 years from now, it’s going to be within [...]
Chinese hedge fund offers £218k starting salary to rival big banks September 1, 2021 Ubiquant, a China-based fund managing $8bn (£5.8bn) of assets, has bumped up starting salaries in a bid to compete with big banks. JP Morgan, Barclays and Citigroup all upped starting salaries to $100k amid rising market wealth and complaints from new starters about working 100-hour weeks during the pandemic. Amid growing competition Goldman Sachs and [...]
Chinese hedge fund offers £218k starting salary to rival big banks : CityAM September 1, 2021 Ubiquant, a China-based fund managing $8bn (£5.8bn) of assets, has bumped up starting salaries in a bid to compete with big banks. JP Morgan, Barclays and Citigroup all upped starting salaries to $100k amid rising market wealth and complaints from new starters about working 100-hour weeks during the pandemic. Amid growing competition Goldman Sachs and [...]
Morgan Stanley hikes pay for junior bankers … again August 31, 2021 Morgan Stanley has raised base salaries for entry-level bankers for the second time in a month, heating up the pay hike frenzy as Wall Street rivals compete for junior talent. Junior bankers at the US investment bank will now be paid a base salary of $110,000 – up from the previous rise from $85,000 to [...]
Covid emergency loan schemes push UK challenger bank lending to record high August 30, 2021 Lending by British challenger banks surged to a record high last year driven by businesses rushing to capitalise on emergency Covid loan schemes, according to new figures published today. Research by accountancy firm BDO shows challenger bank lending climbed 11 per cent over the last year to £143bn, a record high, up from £128bn in [...]
Credit Suisse moves forward with six-figure junior banker salaries August 27, 2021 Credit Suisse has hiked salaries for first year analysts to $100,000 following other big banks increasing pay for juniors. The Wall Street bank has become the last major investment bank to offer six-figure entry level salaries to bankers. Analysts within Credit Suisse’s investment banking and capital markets unit were reportedly told the bank would pay [...]