Brexit secretary warns of general election risk if MPs vote for softer Brexit March 24, 2019 Brexit secretary Stephen Barclay has warned the risk of a general election could be escalated if MPs vote for a softer Brexit next week. Barclay admitted a series of indicative votes planned in Parliament would not be binding and could be ignored by the government. Read more: Thousands join Brexit march calling for second EU [...]
Barclays director Chris Pilling surprise candidate to become new FA chief March 23, 2019 Barclays director Chris Piling is one of the final candidates in the race to take over as chief executive of the Football Association, according to Sky News. Piling is a leading contender to replace Martin Glenn at the FA but faces competition from Mark Bullingham, the current chief commercial and football development officer at the [...]
RBS to wind down £1bn worth of local council lobos loans by end of 2019 March 23, 2019 The Royal Bank of Scotland (RBS) will attempt to wind down £1bn of controversial bank loans given to local councils across the UK. The move comes after criticism from campaigners and shadow chancellor, John McDonnell, who claimed that high payments had led to a diversion of cash from council services. Read more: CYBG raises business banking [...]
Deutsche Bank management board members to receive bonuses for first time since 2014 March 22, 2019 Deutsche Bank’s management board members were awarded bonuses this year for the first time since 2014 as the bank returned to profit, it disclosed today. The board received €55.7m (£48.2m) for 2018, compared to €29.8m the previous year. Read more: Deutsche Bank drops down investment bank table while Barclays gains ground Chief executive Christian Sewing [...]
Credit Suisse boss receives 30 per cent pay rise despite falling share price March 22, 2019 The chief executive of Credit Suisse Tidjane Thiam has received a pay boost of 30 per cent to 12.65m Swiss francs (£9.7m), the group’s annual report showed today. The Swiss bank said the pay rise was “designed to acknowledge the strong performance of Mr Thiam over the course of his tenure to date and the successful [...]
Deutsche Bank drops down investment bank table while Barclays gains ground March 21, 2019 Deutsche Bank has fallen below its US rivals in a ranking of investment banks in Europe, adding to the under-fire German lender’s woes. Citigroup and Goldman Sachs both jumped above Deutsche Bank in a ranking of the world’s investment banks at the end of last year. JP Morgan maintained the top spot in both the [...]
No-deal Brexit would ‘significantly’ hurt the EU, Barclays chairman warns March 21, 2019 A no deal Brexit would "very significantly" hurt the EU, outgoing Barclays chairman John McFarlane warned. The bank's chairman, who will step down in May, also said a financial services deal would be struck between the UK and the EU whatever the outcome of Brexit. Read more: Bank of England holds interest rates amid Brexit deadlock [...]
Bank of England holds interest rates amid Brexit deadlock despite sunnier economic data March 21, 2019 The Bank of England's monetary policy committee (MPC) has voted unanimously to hold interest rates at their current level of 0.75 per cent, after weighing up “mixed” economic data, it said today. Read more: Government borrowing falls to fresh 17-year low The central bank said it will not change its primary bank rate from where [...]
UK retail sales grow as consumers shrug off Brexit worries March 21, 2019 British retail sales showed strong growth last month compared to a year before, in a sign that consumers remain unaffected by the Brexit impasse. The quantity of goods UK shoppers bought increased by 0.4 per cent in February compared to January, with strong growth in non-store retailing and fuel, figures released today by the Office [...]
The FCA has to show it really means business March 20, 2019 THE CITY watchdog is back in the doghouse again following the collapse of mini-bonds lender London Capital & Finance (LC&F). Yesterday, Treasury Select Committee chair Nicky Morgan MP wrote to the Financial Conduct Authority (FCA) and the Treasury demanding an investigation into possible “regulatory failings” surrounding the lender’s collapse. Read more: Nicky Morgan calls for [...]