Shop Direct swings to a loss as rising costs and PPI claims hit profits September 19, 2018 Littlewoods owner Shop Direct has moved into the red in the last 12 months, as rising construction costs for new distribution centres and mounting PPI mis-selling claims mount up for the online retailer. Pre-tax losses hit £24.7m in the year leading up to the end of June 2018, compared with profits before tax of £24.9m [...]
UK and US should have mutual recognition of financial sectors on ‘day one’ of a post-Brexit trade deal, says new report September 18, 2018 The UK and US should seek an immediate system of mutual recognition to deepen trade in financial and professional services, according to a new report produced by policy experts from both sides of the Atlantic. The proposal is one of a range of suggestions put forward by a group of 11 think tanks in a [...]
UK and US should have mutual recognition of financial sectors on ‘day one’ of a post-Brexit trade deal, says new report September 18, 2018 The UK and US should seek an immediate system of mutual recognition to deepen trade in financial and professional services, according to a new report produced by policy experts from both sides of the Atlantic. The proposal is one of a range of suggestions put forward by a group of 11 think tanks in a [...]
Former Barclays trader Jay Merchant jailed for Libor rigging deported to India September 18, 2018 One of the first bankers jailed for Libor rigging has been deported to India, City A.M. can reveal. Indian-born Jay Merchant was the most senior of a group of Barclays bankers sentenced for manipulating the benchmark – used to set borrowing rates for trillions worth of loans and derivatives – following an 11-week trial at Southwark [...]
Former Barclays trader Jay Merchant jailed for Libor rigging deported to India September 18, 2018 One of the first bankers jailed for Libor rigging has been deported to India, City A.M. can reveal. Indian-born Jay Merchant was the most senior of a group of Barclays bankers sentenced for manipulating the benchmark – used to set borrowing rates for trillions worth of loans and derivatives – following an 11-week trial at Southwark [...]
Santander in talks to buy City stockbroker Peel Hunt September 17, 2018 Spanish bank Banco Santander is in discussions to buy City stockbroker Peel Hunt, it has been reported. Santander, which is the fifth largest bank in the UK, is in early stage discussions over the deal, Sky News revealed, although the talks are preliminary and may not lead to an agreement. Read more: Former Barclays boss Bob [...]
Santander in talks to buy City stockbroker Peel Hunt September 17, 2018 Spanish bank Banco Santander is in discussions to buy City stockbroker Peel Hunt, it has been reported. Santander, which is the fifth largest bank in the UK, is in early stage discussions over the deal, Sky News revealed, although the talks are preliminary and may not lead to an agreement. Read more: Former Barclays boss Bob [...]
HSBC appoints new private banking and European bosses September 17, 2018 HSBC has announced a reshuffle of its top executives in its private banking and European divisions. Global private banking chief executive Peter Boyles will retire after 43 years with the bank and will be replaced by Antonio Simoes from 1 January next year. Read more: Barclays opens up mobile app to rival bank accounts Simoes, who joined HSBC [...]
HSBC appoints new private banking and European bosses September 17, 2018 HSBC has announced a reshuffle of its top executives in its private banking and European divisions. Global private banking chief executive Peter Boyles will retire after 43 years with the bank and will be replaced by Antonio Simoes from 1 January next year. Read more: Barclays opens up mobile app to rival bank accounts Simoes, who joined HSBC [...]
Former Deutsche Bank trader who pleaded guilty to Euribor rate rigging let off £6.5m fine September 15, 2018 A former Deutsche Bank trader who pleaded guilty to rigging the Euro Interbank Offered Rate (Euribor) has escaped from a £6.5m fine after the City watchdog ruled his conviction was punishment enough. Christian Bittar, once Deutsche Bank's star trader, was sentenced to five years after he pleaded guilty to rigging Euibor, an interest rate benchmark [...]