Uber has been behaving like a tech teenager – it’s time to grow up November 27, 2017 When Dara Khosrowshahi was ushered in as the new broom at Uber in August, he can’t have realised the full extent of the mess he had been tasked with clearing up. Damaging claims of sexual harassment that came to light in February were superseded in September by the dramatic decision to strip Uber of its [...]
Rio Tinto caves in to shareholder pressure and scraps appointment of Tory chief Sir Mick Davis November 26, 2017 Mining giant Rio Tinto has scrapped plans to appoint the chief exec of the Conservative party as its new chairman, according to reports. Frontrunner Sir Mick Davis is “no longer in the running” to replace Jan du Plessis after a shareholder revolt. City sources told Sky News over the weekend several institutional investors had drawn [...]
The Financial Conduct Authority says banks will back Libor until 2021 November 24, 2017 Libor will continue with investment banks’ backing until it is phased out in 2021, the Financial Conduct Authority announced today. Today, the FCA said it had been working with banks to finalise an agreement for them to remain on the panels they currently submit to until 2021 in order to ensure a more orderly transition. [...]
Chinese banks march up rankings of world’s most important banks as Citi and BNP Paribas drop November 21, 2017 Chinese banks have jumped up international regulators’ rankings of the banks which are most crucial to the global financial system as Citigroup and BNP Paribas fell down the list. Both Bank of China and China Construction Bank rose into the second “bucket” on a list of the global systemically important banks published today by the [...]
Credit rating giant S&P says UK banks are now better placed to deal with Brexit November 15, 2017 The outlook for British banks has brightened according to a leading credit rating agency, with lenders now in a better position to cope with the run-up to Brexit. Standard and Poor’s said last night it has revised the negative outlook on several large UK banks “mostly to stable, and in some specific cases to positive,” [...]
Want to be a pension millionaire? Here’s when you can stop saving November 15, 2017 There seems to be no end to the flurry of people telling us to pile as much money into our pension pots as possible. And while it’s crucial that we all make an effort to save for retirement, high earners need to be conscious that they could get slapped with a hefty tax bill [...]
Let’s make London the green finance capital of the world November 15, 2017 The prospect of Brexit threatens to cause serious damage to the UK’s financial services industry. Paris, Frankfurt, Dublin and even Luxembourg are circling like hungry jackals waiting to pick off the weakest members of the herd. London will need to develop a distinctive and competitive offer to investors. I believe we can find it, in [...]
Barclays is working with startup Flux to make your receipts digital and paperless November 13, 2017 Barclays is the latest major bank to turn to a startup as we approach the era of Open Banking, when high street banks will have to work even harder to keep up with newer and more digital rivals. The bank is working with Flux, a UK fintech, for making receipts digital, initially in a trial [...]
Sabre insurance reveals plans for £213m float with boss saying: “It’s not all young drivers in hot hatches” November 13, 2017 Quirky British car insurer Sabre today announced plans to raise £213m from a London stock market listing. The move will enable private equity firm BC Partners to realise part of its investment into the Dorking-based firm. BC, which paid £240m in 2013 for the firm, will retain a “significant stake” in Sabre post-float. Sabre specialises [...]
Barclays is working with startup Flux to make your receipts digital and paperless November 13, 2017 Barclays is the latest major bank to turn to a startup as we approach the era of Open Banking, when high street banks will have to work even harder to keep up with newer and more digital rivals. The bank is working with Flux, a UK fintech, for making receipts digital, initially in a trial [...]