Fintechs can now apply for Financial Conduct Authority approval for accessing data from top banks as Open Banking moves a step closer October 12, 2017 Fintech startups are a step closer to getting their hands on customer data from some of the biggest high street banks in another move towards Open Banking. Firms wanting to take advantage of account information being made available under rules outlined by the competition authority last year can apply to the Financial Conduct Authority from [...]
Former Shawbrook duo launch new investment firm for speciality finance businesses October 11, 2017 A duo from challenger bank Shawbrook have embarked on setting up a new investment firm, focused on companies in the speciality finance sector. Marc Sefton and Kieran McSweeney have founded Aquilam Capital, which will focus on investing and lending to businesses in the consumer and small to medium-sized enterprise (SME) finance niches and in the [...]
Three charts that suggest banks are stronger now than before Northern Rock October 10, 2017 September marked the 10th anniversary of the moment most people had their first inkling all was not completely well with the global financial system. On 13 September 2007, word began to spread that Northern Rock had asked for emergency funding from the Bank of England in its capacity as "lender of last resort", thus prompting [...]
Royal Mail strikes: It is time postal boss Moya Greene stepped into the limelight October 9, 2017 Barring an eleventh-hour U-turn, Royal Mail will today go to the High Court in a bid to delay a planned shutdown of Britain’s postal service, almost eight years to the day after the last one. The strike is over changes to pensions, pay and working conditions. We’ve seen a lot of the Communication Workers Union [...]
Dialog Semiconductor, the UK-based German chipmaker and supplier to Apple, has acquired US tech firm Silego for $306m October 5, 2017 A UK-based German chipmaker which supplies Apple has snapped up a US tech firm in a deal worth up to $306m. Dialog Semiconductor will buy California’s Silego Technology in a $276m cash deal with a further consideration of $30.4m it announced on Thursday morning. Silego makes Configurable Mixed-signal ICs (CMIC) – that is, chips which [...]
Ashish Thakkar to leave the board of Atlas Mara, the African banking group he co-founded with Bob Diamond October 3, 2017 Former Barclays chief executive Bob Diamond is to be left as the sole founder on the board of African financial services group Atlas Mara, as it was announced today that co-founder Ashish Thakkar would be leaving. His departure from the board comes as a result of new shareholder Fairfax Africa, a Canada-based investment fund, wanting [...]
Staveley ditches West End law firm Fladgate for US heavyweights Quinn Emanuel Urquhart & Sullivan in Barclays dispute October 2, 2017 PCP Capital Partners, the investment firm founded by Amanda Staveley, has ditched West End law firm Fladgate as its advisers in its £1.2bn court battle against Barclays. It has instead appointed Quinn Emanuel Urquhart & Sullivan, a prestigious US-based firm which specialises in business litigation and arbitration. Staveley changed representation due to the high stakes [...]
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 [...]