The new voice of British banking: UK Finance launches today with new board members revealed July 3, 2017 The British finance industry will be publicly represented from today by a single new body, UK Finance, after the merger of six separate lobby groups. The new body, which officially starts operations today at Angel Court, behind the Bank of England, will represent over 300 British firms providing credit, banking, markets and payments services. The [...]
Barclays’ EU base after Brexit looks like it will be located in Dublin July 2, 2017 Dublin has been chosen by Barclays as the location for its European base after Brexit, according to a fresh report. The high street bank has agreed terms to rent a bigger office in the Irish capital, the Telegraph reports, having also considered Frankfurt. Read more: Japanese banks to shift London resources to Frankfurt after Brexit [...]
Treasury confident that new money laundering rules will scupper terrorist financing June 26, 2017 New regulations take effect today which the Treasury says will crack down on funding for terrorism and organised crime. Here’s what you need to know about the changes. 1. It comes from an EU directive Today is the final deadline for member states (which the UK still is until 2019) to implement the fourth EU [...]
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, [...]