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 [...]
Goldman Sachs boss Lloyd Blankfein joins Mark Carney and Jes Staley on list of bankers hoodwinked by the email prankster June 11, 2017 Goldman Sachs boss Lloyd Blankfein has been duped by the email prankster that has already embarrassed Bank of England governor Mark Carney and Barclays chief executive Jes Staley, it was claimed tonight. The “Email Prankster” revealed on Twitter an exchange between Blankfein and alias Harvey Schwarz, who is actually Goldman Sachs’ president and co-chief operating [...]
Big four UK banks on the mend after racking up £66bn of charges in six years, says S&P Global report June 8, 2017 The UK’s big four banking groups have racked up £66bn of conduct and litigation charges in the last six years, a new report out today has estimated. But analysts at S&P Global Ratings expect 2016 will “prove to be the last year in which charges remain at the outsized levels we have seen recently”. The [...]
London is home to more of the hottest fintech startups than ever before according to the Fintech50 2017 June 7, 2017 London’s status as the world leading centre of fintech has been questioned in the wake of Brexit, but new figures suggest the capital continues to be a global powerhouse for financial technology. The city has produced more of the hottest fintech startups than ever before, with over half of the Fintech50 calling it home. Challenger [...]
Is it still worth investing in bank shares? May 31, 2017 Bank shares rose sharply toward the end of 2016 leaving many investors questioning whether the rally would continue. The global banking sector returned 13.7% in 2016 with dividends included, according to MSCI data. In comparison, the MSCI World index returned a more modest 8.2%. Among banks, the biggest gains were made by the US and [...]
After financial crisis hit, retail banks are building up their reputations (to “average”): These are the UK’s most and least trusted lenders | City A.M. May 31, 2017 The reputation of UK retail banks is growing, with Nationwide, Virgin Money and Halifax leading the way. But Royal Bank of Scotland, TSB and HSBC are trailing others in the latest UK RepTrak ranking, compiled by the Reputation Institute. The figures, based on more than 35,000 UK customer ratings collected in the first quarter of [...]