London salaries 2019: Which jobs will get you a pay rise? January 31, 2019 Talent has rarely been so in demand as it is in 2019. Against a backdrop of a record employment rate, UK wages keep going up, with pay growth hitting a post-financial crisis peak of 3.3 per cent in late 2018. Read more: Employment rate hits new record as wages grow But as a UK-wide average [...]
Barclays gets go-ahead to shift £160bn of assets to Dublin amid Brexit uncertainty January 30, 2019 Barclays has been given the green light to transfer £160bn of assets to its Irish business as the bank “cannot wait any longer” to implement its no-deal Brexit strategy amid ongoing political uncertainty. A High Court judgement revealed that the bank is pushing forward with its Brexit contingency plan to transfer all of its European [...]
Barclays boss feared payments to Qataris could be seen as a ‘bung’ January 30, 2019 A Barclays boss feared that fees paid by the bank to Qatari investors might be see as a “bung”, a court was told today. Richard Boath, one of four former Barclays executives charged with conspiracy to commit fraud, told investigators two advisory services agreements (ASAs) that form the crux of the Serious Fraud Office’s (SFO) [...]
More customers leave TSB than any other bank, data shows January 30, 2019 More customers abandoned TSB in the third quarter of last year than any other bank, according to the latest data, while Nationwide gained the most new accounts. TSB, which suffered two major IT outages in 2018, saw net losses of 16,142, followed by Natwest which lost 12,514 accounts overall. A total of 40, 656 customers moved their [...]
Should we be worried about the rise of the Bank of Mum and Dad mortgage? January 30, 2019 In the years leading up to the financial crisis, it was relatively easy for wannabe homeowners to get loans for the full value of a property – otherwise known as a 100 per cent loan-to-value mortgage. Of course, we know the problems caused by these mammoth loans, and since then, affordability criteria have become stricter [...]
Barclays ‘big dog’ pushed for £25m special payment after Qatari cash mission January 30, 2019 A Barclays boss who helped secure a Qatari cash injection that saved the bank from the prospect of government bailout during the financial crisis was recommended for a £25m bonus to reward his efforts, a court heard yesterday. Roger Jenkins, nicknamed “Big Dog” by colleagues, told Barclays executive Rich Ricci he wanted a “special payment” [...]
Bailout fears kept Barclays banker ‘up at 2am’ January 29, 2019 One of Barclays’ top executives was awake and panicking at 2am during the height of the financial crisis over fears that a government bailout would compromise his bonus, a court heard yesterday. Roger Jenkins, Barclays’ investment head for the Middle East and north Africa, told senior bank staff “I was panicking that we were about [...]
FTSE 100 slides as US market slump sparks downward spiral January 28, 2019 The FTSE 100 followed US stocks on a downward spiral this afternoon closing 0.9 per cent down for the day. US construction giant Caterpillar set the tone with disappointing fourth quarter results as a slowdown in China and trade tensions were cited as reasons for the miss. The Dow Jones lost more than 300 points in [...]
City Moves for 28 January – who’s switching jobs at Tetra Pak, LOC Group and Relendex? January 28, 2019 Who’s on the move today? Tetra Pak The Tetra Laval Group Board has appointed Adolfo Orive as president and chief executive officer of Tetra Pak, the food processing and packaging solutions company effective 1 April 2019. The appointment follows the decision by Mr Dennis Jönsson to step down from his position after 14 years as [...]
‘The food sucks and the sex is worse’: Barclays fraud trial execs joked about prison January 24, 2019 Ex-Barclays bosses on trial for fraud joked about going to jail while organising a crucial capital raising drive at the height of the financial crisis, with wealth manager Tom Kalaris saying “the food sucks and the sex is worse”. Another executive, Richard Boath, expressed fears the bank would be “basically dead” if it were unable to secure [...]