Black Friday spending has beaten 2018’s outlay, says Barclaycard November 29, 2019 Black Friday spending has risen 12.5 per cent on 2018’s total, Barclaycard said today. Spending was higher as of 10am this morning and “sustained” that high level throughout the day. The bank said the number of transactions then reached a “new peak” between 1pm and 2pm on Black Friday. Read more: Black Friday outages: Natwest [...]
Premier hit by outflows ahead of merger with Miton November 28, 2019 Premier swung to net outflows in a “difficult year” as it finalised its merger with Miton, with Brexit uncertainty weighing on the asset manager. In its last results before the merger takes effect, Premier revealed that its assets under management (AUM) slipped from £6.9bn to £6.6bn for the year ending 30 September. Read more: Rathbone [...]
Barclays and Santander to cut chief executive pension perks November 28, 2019 Barclays, Santander and Lloyds Banking Group have all slashed pension allowances for their bosses after an outcry from MPs and investors. Barclays chief executive Jes Staley is set to receive a cash lump sum of £396,000 instead of a pension this year, which is equivalent to 34 per cent of his salary. From next year, [...]
Belgian media group Mediahuis ‘interested’ in Telegraph titles November 28, 2019 Belgian media group Mediahuis is said to be interested in a potential purchase of the Telegraph newspapers, which have been put up for sale by the billionaire Barclay brothers. Chief executive Gert Ysebart said that while no formal discussions have taken place, his company is looking for acquisitions. Read more: Ex-Donald Trump strategist Steve Bannon [...]
Rathbone Brothers buy Barclays Wealth personal injury business November 28, 2019 Rathbone Brothers has said it will buy the personal injury and court of protection business of Barclays Wealth. The wealth and investment manager will acquire the business, which comprises £500m funds under management on behalf of around 600 clients, for an undisclosed sum. Read more: Rathbone Brothers’ shares fall as it warns on tighter profit [...]
Ranked: Top 10 retail banks for customer experience November 28, 2019 First Direct has won the crown for delivering the best retail banking customer experience, according to a comprehensive new study released this morning. The telephone and internet-based retail bank has seen off competition from the likes of Barclays, the Co-operative Bank and Royal Bank of Scotland (RBS) to claim the top spot. Read more: Lloyds [...]
Ex-Barclays banker says disputed Qatar agreement was ‘tremendous boost’ November 27, 2019 Former top Barclays banker Roger Jenkins told a fraud trial in London today that an agreement between the bank and Qatar characterised as a sham by prosecutors was actually a “tremendous boost”. Jenkins, 64, was in the witness box at the Old Bailey as he stood trial for fraud alongside former top Barclays executives Thomas [...]
Food for thought: How Tastecard is helping the restaurant sector November 25, 2019 The restaurant sector is in a crisis. A combination of rising rents, food prices and wage costs, plus a decline in consumer spending, is causing more businesses to close. Research published in September exposed the scale of the problem. According to accountancy firm UHY Hacker Young, the number of restaurants closing in the year to [...]
Trading giant Robinhood makes its UK debut in Revolut challenge November 20, 2019 US fintech Robinhood, a commission-free trading startup valued at $7.6bn (£5.9bn), has today arrived in the UK. The firm’s stock trading service is making its international debut, in a direct challenge to established British rivals Freetrade and Revolut. Robinhood will today roll out the waiting list for its popular app to UK investors, with a [...]
Three more companies ditch sponsorship of Prince Andrew’s Pitch@Palace scheme November 19, 2019 Three more companies said they would no longer support Prince Andrew’s entrepreneurial scheme Pitch@Palace, a day after KPMG jumped ship. International banking giant Standard Chartered was the first to pull the plug. A spokesman confirmed: “We won’t be renewing the sponsorship when it ends in February.” Read more: Corporate sponsors look to desert Prince Andrew’s [...]