Traders ready themselves for election all-nighter December 12, 2019 Armed with energy drinks, cigarettes (or vapes) and coffee, London’s financial traders are gearing up for a general election all-nighter. City workers will be glued to their terminals for the next 24 hours, preparing themselves for any swings in global financial markets as Britain’s voters head to the polling booths. Read more: Moody’s downgrades outlook [...]
Second law firm files multi-million foreign exchange class action against raft of banks December 11, 2019 A second law firm today launched a multi-million pound class action claim against a raft of banks which admitted rigging the foreign exchange markets. US litigation firm Hausfeld filed the claim in the Competition Appeal Tribunal (CAT) today against Barclays, Citibank, the Royal Bank of Scotland, JP Morgan, UBS and MUFG Bank over their participation [...]
City Moves for 9 December – Who’s switching jobs at Duff & Phelps, Ironveld and Nomura? December 9, 2019 Today’s City Moves includes Duff & Phelps, Ironveld and Nomura Duff & Phelps Global advisory firm Duff & Phelps has announced the appointment of Marcus Morton as managing director in the firm’s valuations advisory services practice in London. Marcus will focus specifically on the financial services sector. He has over 25 years of experience in [...]
Boris Johnson says leaked document ‘wrong’ about Irish Sea customs checks December 8, 2019 Boris Johnson has rejected claims that his Brexit deal would cause new customs checks on goods travelling between Great Britain and Northern Ireland, but conceded they would apply to products bound for the Republic of Ireland. The PM’s Brexit deal would see Northern Ireland remain in the UK’s customs territory but abide by EU rules [...]
Watchdogs propose tougher rules to limit banking services glitches December 5, 2019 UK regulators have proposed new rules to make banks and payment firms more resilient to major problems in the wake of TSB’s IT meltdown. MPs called for regulatory changes in October after repeated technological failures by lenders such as TSB, Visa, Barclays and RBS. Read more: TSB IT meltdown blamed on data centre test failure [...]
Daily Mail owner takes profit hit as it revamps portfolio in digital shift December 5, 2019 The Daily Mail’s parent company has reported a sharp fall in pre-tax profit for the full year, days after it snapped up the i newspaper for £50m. Daily Mail and General Trust (DMGT) posted a 21 per cent drop in pre-tax profit to £145m in the year to the end of September, while revenue slipped [...]
Metro Bank CEO Craig Donaldson to step down December 4, 2019 Metro Bank’s chief executive Craig Donaldson revealed this evening that he will step down at the end of the year, bidding farewell to the troubled lender after a torrid 12 months. After a decade-long stint running the challenger bank, Donaldson has become the latest in a string of senior figures to announce his departure. Donaldson’s [...]
Big Four client numbers fall but FTSE 100 stranglehold remains December 2, 2019 The number of clients audited by the Big Four accountancy firms has fallen but they retain an iron grip on the FTSE 100, figures published today show. Figures from Adviser Rankings for the quarter to 6 November showed the number of stock market clients audited by PwC (353), KPMG (312) and Deloitte (225) all fell [...]
Ranked: Britain’s best and worst bank accounts November 30, 2019 Brits now enjoy a larger choice of bank accounts than ever before, with rival offerings from time-honoured high street stalwarts to exciting new fintech upstarts. But if the choice at times seems overwhelming, a new league table has revealed which banks score highly for customer service and communication – and which leave a lot to [...]
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 [...]