HSBC has an innovative new app, Beta, taking on challenger fintech startups and rivals ahead of Open Banking and PSD2 September 28, 2017 HSBC is seeking to get ahead of rivals and fend off growing challengers with the launch of a new banking app. The banking giant will play up its position as a trusted high street bank and make the most of millions of customers with the roll out of the financial management app Beta. Read more: [...]
The changing face of careers: How to plan for an un-retirement September 27, 2017 Trish Wheaton, former global managing partner of one of the world’s largest communications groups, is grateful that she could work for 30 years in advertising — an industry notorious for employing youthful ‘mad men’. While she wasn’t surprised when told that her time was up at age 65, she also wasn’t ready for a [...]
Global bank fines from financial crisis aftermath could top $400bn by 2020 says report September 27, 2017 Fines for misconduct levied on the biggest banks since the financial crisis by US and EU regulators could top $400bn (£298bn) by 2020, according to a report published today. Authorities in the US and EU have forced the world’s 50 largest banks to pay up $342bn since 2009, according to analysis by consultants Quinlan and [...]
A weakened Merkel leaves EU integration on the back-burner September 26, 2017 Europe’s politically supercharged year has ended with a jolt of excitement as Germans went to the polls on Sunday. Dubbed a “sleep campaign” and all different shades of “boring” by the German media, it was widely expected that markets would react with a big fat “gahn” (German for yawn). However, what we got was a [...]
Bank of England to make banks add £10bn buffer to cover consumer credit and warns on Brexit derivatives risk September 25, 2017 The Bank of England today issued its strongest warning yet on the fast-expanding consumer credit sector, with financial stability experts at Threadneedle Street saying banks must hold another £10bn to cover potential losses. Losses across the whole consumer credit sector could reach £30bn – £10bn higher than previous estimates – under the stress test scenario [...]
Banks left outraged as government rules they must run illegal immigrant checks on all current accounts September 22, 2017 UK banks are quietly outraged about new legislation which will force all banks to run checks for illegal immigrants against their current account customers. Read more: New government rules will force UK banks to search bank accounts for illegal immigrants The government has brought in rules requiring all banks to check their customers against a [...]
Thought millennials went crazy for avocados? Meet Generation Z September 15, 2017 If you thought Generation Y were a bunch of avocado-obsessed health-freaks, you ain’t seen nothing yet: it turns out Generation Z, their even younger counterparts, eat 226 per cent more avocados than their predecessors. Research by Barclays reveals today’s students are shunning traditional university pursuits – drinking, smoking, etc – in favour of quitting smoking [...]
Thought millennials went crazy for avocados? Meet Generation Z September 15, 2017 If you thought Generation Y were a bunch of avocado-obsessed health-freaks, you ain’t seen nothing yet: it turns out Generation Z, their even younger counterparts, eat 226 per cent more avocados than their predecessors. Research by Barclays reveals today’s students are shunning traditional university pursuits – drinking, smoking, etc – in favour of quitting smoking [...]
Toscafund launches €300m fund to invest in unlisted financial and business services companies September 13, 2017 Multi-asset manager Toscafund has launched a new €300m private investment fund, to invest in financial and business services companies around Europe. To head the team, Toscafund has hired Fabrizio Cesario and George Koulouris – both formerly of private equity firm Anacap Financial Partners, a financial services specialist. Read more: Au revoir: Barclays completes sale of [...]
Bitcoin and Ethereum slide after JPMorgan Chase boss slams cryptocurrencies as “fraud” September 13, 2017 JPMorgan Chase chief executive Jamie Dimon slammed cryptocurrencies as a “fraud” last night, pushing the already slipping value of Bitcoin down another notch. Bitcoin was down almost four per cent today at $3,985.03 (£2,994.49), while Ethereum dropped 4.81 per cent to $279.55. Dimon said he would fire an employee who traded in cryptocurrencies for being [...]