Pride in London 2017: Barclays leads host of Britain’s biggest firms in support of LGBT+ event June 23, 2017 City stalwarts and some of the UK’s largest companies have rallied in support of Pride in London 2017. A raft of the great and the good from the corporate world have stepped up to sponsor the event. Barclays is one of two headline sponsors together with the Mayor of London office. This year’s event takes [...]
Voice of British banking, BBA chief executive Anthony Browne, bows out with shots at EU over euro clearing and protectionism June 23, 2017 The year since the UK voted for Brexit has been dramatic one for banks. Share prices have plunged and recovered, uncertainty has been high and firms have attempted to figure out what jobs and operations, if any, need to be shifted into the European Union. Fortunately, Anthony Browne, the voice of UK banking for the [...]
Banking Brexodus? One year on, this is what banks have said about Brexit and job moves June 23, 2017 In the year since the UK voted for Brexit, one of the hot topics for discussion in the City has been job moves. In February, Brussels think tank Bruegel estimated that 10,000 UK banking positions could be shifted to the EU because of Brexit. One year on from the EU referendum, it is difficult to [...]
Brokers beware: The UK’s first ever no-commission share trading service launches today June 22, 2017 For the first time in the UK’s history, anyone wanting to dabble in shares can trade away without having to pay commission as Trading 212 launches its share trading platform today. The fintech firm behind the project is hardly a new kid on the block – its online commodities and forex trading platform has been [...]
The Serious Fraud Office’s Barclays probe: Everything you need to know June 21, 2017 What happened in 2008? In the summer of 2008, at the height of the global financial crisis, Barclays needed emergency funding. The bank raised £4.5bn in June that year and £7.3bn in October from investors including Qatar Holding and Challenger Universal. Why was this investigated? Over the last five years, the Serious Fraud Office (SFO) [...]
14 years of returns: history’s lesson for investors June 20, 2017 The temptation among investors is to stick to what you know. That is no bad thing. It is a strategy championed by pioneers of investment such as Warren Buffett. It can work when the market is rising and you have picked the right asset. However, it is also important for investors to also consider the [...]
Venture funding from the Business Growth Fund (BGF), Episode1 and Entrepreneur First for biometric recognition company AimBrain could change the face of retail banking June 20, 2017 AimBrain, a biometric recognition business, could be set to change the face of retail banking after receiving £4m of venture capital funding. As banks increasingly look to explore automation and enhance security, devices ranging from mobile phones to ATMs could soon be paying much more attention to how customers look, sound and act. AimBrain’s founders, [...]
Barclays (BARC) and ex-staff including former chief executive charged by Serious Fraud Office (SFO) with fraud over Qatar fundraising but share price remains flat June 20, 2017 The Serious Fraud Office has announced today it has charged four former Barclays bankers, including ex-chief executive John Varley, over a 2008 fundraising from Qatar. It said this morning that it had charged the bank and four individuals with “conspiracy to commit fraud and the provision of unlawful financial assistance contrary to the Companies Act [...]
Banks to be forced to reveal all cyber security breaches to the European Central Bank June 19, 2017 All banks regulated by the European Central Bank (ECB) will be forced to reveal all major cyber security breaches, according to one of the supervisor’s bosses. Starting this summer, banks directly supervised by the ECB will have to “report all significant cyber incidents”, said Sabine Lautenschlaeger, a member of the ECB’s executive board. At a [...]
Hurry up: Bank regulator warns tight deadline for ring-fencing poses big risks for British banks June 16, 2017 British banks rushing to carry out capital ring-fencing have little room for error, with big risks of disruptions for customers, according to a senior regulator. There is a “high degree of delivery risk” involved in bringing the plans into place, according to James Proudman, an executive director at the Prudential Regulation Authority (PRA) in charge [...]