Payments company Paysafe share price drops despite nearly doubling profits March 7, 2017 The figures Payments processing company, Paysafe, saw its share price plummet 6 per cent lower this morning despite delivering a strong set of results and nearly doubling profits compared to last year. The company reported in its 2016 financial results today that it has nearly doubled adjusted profits after tax, achieving $213m (£174.6m) for the [...]
Charlotte Hogg has apologised for not disclosing her brother’s position at Barclays March 7, 2017 The Bank of England's (BoE) new deputy governor, Charlotte Hogg, has apologised for failing to disclose that her brother worked for Barclays, a potential conflict of interest, before she joined the central bank. Hogg worked as the BoE's chief operating officer from July 2013. Last week, as she started her new role as deputy governor, the Treasury Select Committee questioned her on why she [...]
Deutsche Bank shares fall following restructuring revelation and fresh legal case fears March 6, 2017 Deutsche Bank shares fell over six per cent in early trading this morning after yesterday confirming plans to launch a €8bn (£6.9bn) rights issue and reports it is facing new legal action over foreign exchange trading practices. Shares in lender opened at €17.90, down from Friday's of €19.14. They have subsequently bounced back regained some lost ground, trading [...]
University of Barclays: Lender to launch the UK’s first degree-level apprenticeship in banking later this year March 6, 2017 Barclays will launch a degree-level apprenticeship in banking later this year, the UK's first such offering. The programme will allow participants to study for a degree, or equivalent qualification, should they choose and will let them specialise in a range of areas of banking, including corporate, investment and retail. "We want people of all ages and [...]
Deutsche Bank to raise €8bn through rights issue, as it announces a slew of restructuring plans March 5, 2017 Deutsche Bank revealed today it plans to bolster its capital by around €8bn (£6.9bn) through an issue of new shares. The German lender also revealed a slew of restructuring plans, including keeping its Postbank division, streamlining its business model to focus on three key units of private and commercial banking, asset management and corporate and investment banking, and listing [...]
Budget 2017: The government’s promised £500m to get young people into higher paying jobs in technical training shake-up March 5, 2017 The government is promising to invest £500m a year in technical training for young people to ensure they have the high level skills needed by businesses in the future, in a huge shake up designed to boost the country's productivity. The radical overhaul of post-16 education will see a dizzying array of 13,000 different qualifications whittled [...]
Rio Tinto appoints a new legal chief after Guinea payments probe sacking March 3, 2017 Rio Tinto has appointed Philip Richards as group chief of legal to replace Debra Valentine, who was removed in November due to a payments probe related to mining rights in Guinea. The company sacked Valentine and former chief executive of energy and minerals Alan Davis for having "failed to maintain the standards expected of them" under Rio [...]
The cost of talent and housing threaten London’s digital crown March 2, 2017 The government yesterday unveiled its digital strategy – an action plan for growing the digital economy and making the UK the best place in the world to start and grow a digital business. This ambition is undoubtedly very welcome. London is already the best place in Europe for digital startups and scaleups, boasting excellent access [...]
The government’s tapping up Lloyds, Barclays and Google for digital skills March 1, 2017 The government is turning to private business, including Lloyds, Barclays and Google, to help the UK become skilled for the modern age with ambitious new plans. It has announced partnerships with the well known institutions to offer training in digital across the UK, to push forward the country's march towards a digital economy, putting these skills on a par with literacy [...]
Virgin Money chief exec Jayne-Anne Gadhia: Brexit made us shelf plans for small business banking, but it might have worked out in our favour February 28, 2017 A series of unforeseen events means Virgin Money might be better off after having to drop a deal to go into small business banking because of Brexit. The challenger bank had been due to acquire an asset finance business, which would have allowed it to expand its offering into small business banking, but changed its [...]