Barclays takes a stake in digital receipts startup Flux January 29, 2020 Barclays will today take its relationship with digital receipts startup Flux one step further by acquiring a minority stake in the London tech firm. The startup said Barclays will also soon begin an expansion of its ongoing partnership with Flux to reach its entire UK mobile banking customer base, after a successful trial period on [...]
‘Pack of cards would have started to tumble’ if Barclays failed to secure Qatar cash, court hears January 28, 2020 Barclays would have been left in a dire position if it had failed to get Qatar to commit to two multi-billion pound financial crisis fundraisings, the Old Bailey heard today. A barrister for the Serious Fraud Office (SFO) today began the closing argument for the prosecution in the landmark trial of three senior former Barclays [...]
Downing Street unveils Taskforce Europe for EU trade talks January 27, 2020 The Prime Minister’s sherpa David Frost will head up trade talks with the EU following the UK’s exit this Friday, Downing Street has confirmed. Frost, who secured the 11th hour withdrawal agreement with Brussels that paved the way for Commons approval for a final deal, will head up a “small and agile” team of around [...]
Varadkar: The EU has the upper hand in Brexit trade talks January 27, 2020 Ireland’s Prime Minister Leo Varadkar feels the EU will have an advantage in the upcoming trade deal talks between the UK and the bloc. Varadkar used a sports analogy to explain the EU has a “stronger team” than Prime Minister Boris Johnson’s UK, due to its larger population and market size. The Irish PM is [...]
Coronavirus death toll hits 81 as cases spread January 27, 2020 The death toll from coronavirus climbed to 81 today as the Chinese government extended the Lunar New Year holiday while it struggled to cope with the outbreak. The number of confirmed cases rose roughly 30 per cent to 2,744, with about half of them in Hubei province, whose capital is Wuhan, where the outbreak is [...]
Crunch time: Boris Johnson to meet ministers over HS2 decision ‘this week’ January 26, 2020 Boris Johnson is thought to be preparing for a crunch meeting with chancellor Sajid Javid and transport secretary Grant Shapps over the future of the HS2 rail line this week. The meeting could well be a combative one, after a torrid week for supporters of the beleaguered project. On Monday, it emerged the price tag [...]
UK to set out EU free trade deal objectives next month, says Brexit secretary January 26, 2020 Britain will outline more details about its objectives for a free trade deal with the European Union next month after leaving the bloc on Friday, Brexit Secretary Stephen Barclay said. “We are going to publish our objectives for the negotiation… in due course after the 31st,” he told the BBC’s Andrew Marr this morning. Barclay [...]
World’s biggest banks pushing for £4bn post-Brexit tax cuts to boost the City January 25, 2020 Some of the biggest banks in the world are set to demand tax cuts of up to £4bn per year following Brexit, having paid the Treasury tens of billions in additional levies since the financial crisis. Banks want the government to show its support for its “Global Britain” slogan by convincing global financial giants to [...]
Barclays investment bankers face ‘double-digit’ cut to bonus pool January 24, 2020 Barclays investment bankers are reportedly facing a double-digit fall in their bonus pool for 2019, as chief executive Jes Stanley pushes for the lender to meet profitability targets amid growing pressure from an activist investor. Barclays Investment Bank reported a strong third-quarter performance with a 41 per cent jump in net profit. But the division’s [...]
Finablr shares plunge after owner pledges stock as collateral for Travelex debt January 24, 2020 Shares in payments firm Finablr plunged to a record low today after its owner pledged more than half the company’s stock as security for debts incurred buying foreign exchange company Travelex. In an update to the stock exchange this morning, Finablr disclosed that majority owner B. R. Shetty had pledged 392.2 million shares, over 56 [...]