Ex-Barclays trader Alex Pabon loses appeal against conviction for Libor rigging March 13, 2018 Former Barclays trader Alex Pabon has lost an appeal against his Libor rigging sentence after a court found that doubts surrounding the credibility of an expert witness did not merit his conviction being overturned. Pabon was among three traders to be convicted by the Serious Fraud Office (SFO) in 2016 for their roles in [...]
Deloitte and EY partners push gender pay gaps wider March 7, 2018 Deloitte and EY today updated their gender pay gap data to include partners’ salaries for the first time, in figures which shed light on a bigger difference in earnings between men and women than previously thought. Both of the “Big Four” accountants have bigger gaps when partners’ earnings are factored in, reflecting the greater number [...]
EU markets regulator ESMA finally releases long-delayed list of stocks affected by Mifid II dark pool volume cap March 7, 2018 The European markets regulator has finally released a long-delayed list of stocks which will be affected by the Mifid II cap on “dark pool” trading, covering the shares of some of the biggest household names across Europe. If more than four per cent of stocks are traded “in the dark” on any particular venue on [...]
Cash vs stock market: the difference in returns since Isas began March 7, 2018 Saving money into a cash Isa over the last 18 years would have returned four times less than a stocks and shares Isa, according to research by Schroders. Since 2009, the average savings account could even have lost you money. But while stocks and shares returns may have been higher, they have also been more [...]
The UK’s “largest Apple reseller” Jigsaw24 rakes in more than three-times money invested as private equity owner sells up March 5, 2018 Jigsaw24, the UK's "largest Apple reseller" according to the company, has raked in a return of 3.1 times money invested for its private equity owners. The business, which also provides IT and consultancy services, has been sold by NorthEdge to fellow private equity firm Alcuin Capital Partners. Jigsaw24, which counts names such as Barclays, Disney [...]
Interserve rescue plans boosted by white knight’s £140m debt trade | City A.M. March 4, 2018 A Scottish brewing tycoon has snapped up £140m of Interserve’s bank debt in a bid to save the troubled outsourcer. Multi-millionaire Punch Taverns founder Alan McIntosh has hoovered up debt on secondary markets from the likes of Barclays and Lloyds through family office investment fund Emerald Investment Partners. Keen to reduce their exposure to the [...]
Mid-cap stock brokers steal a march on bulge-bracket names as the Mifid II era begins February 26, 2018 The City’s bulge-bracket brokers have struggled with increased competition from mid-cap specialists, according to analysis of the biggest winners and losers in client numbers over the last five years. The top three gainers over the five-year period were Peel Hunt, Numis, and Liberum, all of which were founded long after some of London’s oldest financial [...]
Natwest to launch new fintech accelerator in London in April February 26, 2018 Natwest bank will launch new fintech accelerators in four cities across the UK in April, including one in the capital, it announced today. The bank will launch units in London, Manchester, Bristol and Edinburgh, supporting up to 80 fintech firms with a "technology team mentor" and access to government contacts. The six- to 18-month acceleration [...]
Gender pay gap: Royal Bank of Scotland Group (RBS) pays women 37 per cent less than men February 23, 2018 Royal Bank of Scotland Group may have announced its first annual profit in a decade this morning, but it wasn’t all good news for the state-backed lender. RBS said it pays women about 37 per cent less than men on average, largely due to men holding more senior roles. The bank announced that women held [...]
Now Lloyds Bank has published its gender pay gap with women earning 33 per cent less than men February 23, 2018 Lloyds Banking Group has become the latest UK lender to reveal its gender pay gap. Britain's biggest bank said on average it pays women in the company 32.8 per cent less than men. Its median gender pay gap was also 32.8 per cent. The lender said this was due to a larger proportion of men [...]