Barclays UK assets hit £219bn as easing lockdown sees fewer loan costs July 28, 2021 Barclays UK assets have hit £219bn in the past six months as lockdown measures have eased, allowing for fewer loan costs. The bank’s UK division pulled in a total income of £3.2bn, which was up one per cent in comparison to last year but was partially offset by its operating expenses of some £2.1bn. Shares [...]
Senior management redundancies spike in the wake of Brexit July 26, 2021 Structural changes to the financial services sector following Britain’s exit from the EU has led to a spike in redundancy rates for senior managers. Research from Fox & Partners indicates a nine-fold increase in senior management redundancies. Last year saw 559 senior managers in the sector lose their jobs, up from 61 the year before. [...]
FTSE 100 in the red ahead of key week of corporate results July 26, 2021 The FTSE 100 started the week in the red this morning as energy and banking stocks dragged down the index. London’s premier market was down 0.4 per cent after two hours of trading, with the FTSE 250 faring little better at 0.2 per cent down. The slide comes ahead of a week stuffed with corporate [...]
Thousands of websites including Amazon, UPS, HSBC, BA, Airbnb and HBO hit in major global outage July 22, 2021 A major server outage brought down thousands of websites across the UK, US and around the world, including HSBC, Barclays, American Express, Delta Airlines, Tesco Bank, alongside the PlayStation Network, Airbnb and Waitrose, as well as ITV and TSB. British Airways was also down. A message on the BA website read: “Service Unavailable – DNS [...]
Barclays appoints Ingrid Hengster as Germany head July 22, 2021 Barclays announced the appointment of Ingrid Hengster as country chief executive for Germany and global chairman of investment banking. Hengster joins from KfW, the German state-owned investment and development bank, where she held the role of executive board member since 2014. “The almost eight years at KfW were very rewarding because I had the opportunity [...]
Six million SMEs risk ‘being forgotten’ in net zero transition, banks warn July 22, 2021 The UK’s six million small and medium-sized enterprises (SMEs) could be “forgotten or left behind” in the country’s net zero transition, warns Bankers for Net Zero in a report. The initiative – supported by Barclays, Handelsbanken, Triodos, Ecology Building Society, ClearBank and Tide – argues that measures need to be implemented to avoid leaving SMEs unprepared [...]
City Moves: Who’s switching jobs in the Square Mile this week? July 21, 2021 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Ex-UBS and Canary Wharf Group chiefs join construction-tech firm British construction technology company Modulous has bolstered its London workforce with former Canary Wharf and UBS leads this week. Former director of the Canary Wharf Group Chris [...]
Stripe: Fintech needs to work in tandem with traditional banks, not see them as the enemy July 21, 2021 Necessity may be the mother of invention, but it has a second child in collaboration. When it comes to crunch moments and serious challenges, the human tendency is to put differences aside and work together to find solutions. Take the vaccine rollout. The whole program is an enormous collaboration of academic institutions, public bodies, and [...]
Barclays names new investment bank heads July 20, 2021 Barclays has promoted JF Astier and John Miller to lead its investment banking business, as part of a new management team to oversee the business that mainly advises on big corporate deals such as mergers and stock market listings. The bank said the team, which will also include the heads of divisions such as human resources, [...]
Crypto exchange outflows increase as scaling solutions grow July 20, 2021 CryptoCompare data shows the price of Bitcoin (BTC) has dropped below the $30,000 support level in a downward move that broke a support level that had been holding for weeks.