Banking data to become open by the end of the year as industry and regulators work on ambitious banking standards and open API plans February 9, 2016 Banking could be made simpler for customers – from comparing mortgages to switching accounts – with ambitious plans for banks and regulators to streamline the sharing of data as soon as the end of the year that would establish the UK as a world leader in financial technology and banking innovation. A group of leading experts appointed by the Treasury [...]
Hold onto your hats: Stocks pare losses in the US but the S&P 500, Nasdaq and Dow Jones still sink February 8, 2016 US markets pared losses but still finished lower this evening, after a stormy start to the week for global markets sent investors fleeing for shelter in safe havens such as gold and government bonds. The Nasdaq, which at one point dipped three per cent, settled 1.8 per cent lower. Meanwhile, the S&P 500 finished the day 1.4 per [...]
Deutsche Bank seeks to quell investor fears as it assures it can make debt repayments due in April February 8, 2016 Deutsche Bank moved to calm investors this evening, after it said it will have no problem making bond payments due in April. The bank, whose shares fell 9.5 per cent to €13.82 during trading in Frankfurt today, said its payment capacity was approximately €1bn, which it said was "sufficient to pay additional tier one (AT1) coupons of approximately €350m [...]
Shrove Tuesday 2016: Where to watch City boys and girls competing in Pancake Day races February 8, 2016 The financial world is spoilt for choice for pancake races to watch today. Whether your interest lies in political manoeuvres or battling banks, there’s something for everyone. For those who like their pancakes served with pomp and circumstance, the City’s livery companies will be racing each other at a more traditional Pancake Day event in [...]
Brace yourselves: Deutsche Bank share price suffers as European markets including FTSE 100, Dax and Cac dive on fears of a downturn February 8, 2016 Deutsche Bank shares finished the day 9.5 per cent lower in Frankfurt at €13.82 as European markets spent the day in a steady decline – with analysts warning of downturn fears. Deutsche, which last week issued a profit warning, was pushed lower on a rise in credit default swap spreads, CMC markets analyst Jasper Lawler said. Read [...]
Libor scandal trial: Start of SFO’s third Libor trial delayed as Barclays provides new information February 8, 2016 The Serious Fraud Office (SFO) has today had to postpone the start of its third Libor trial after Barclays, the former employer of those accused, brought new evidence to its attention. The SFO has said that the trial, which was originally scheduled to begin next week on 15 February, may now be delayed until mid-April as [...]
Credit Suisse chief executive Tidjane Thiam to waive part of his bonus after Swiss lender reports first set of annual losses since 2008 February 7, 2016 One banking chief has revealed he might not be receiving as hefty a bonus as he might be accustomed to this year. Credit Suisse chief executive Tidjane Thiam has told a Swiss weekly newspaper that he will be forfeiting part of his bonus, after the bank recently reported its first annual loss since 2008. Thiam is quoted [...]
Six Nations 2016: England head coach Eddie Jones hits back at caution jibes February 4, 2016 Head coach Eddie Jones has hit back at criticism of his maiden squad selection by insisting the 23 on show against Scotland at Murrayfield on Saturday are the best group to hand England the perfect Six Nations start. Australian Jones has opted for Danny Care at scrum-half in preference to Ben Youngs and Joe Marler rather [...]
Barclays “to hand over Qatar documents” to Serious Fraud Office February 4, 2016 Barclays is set to hand over much-disputed internal documents relating to its dealings in Qatar to the Serious Fraud Office (SFO), Bloomberg has reported. The bank has been under investigation by the SFO since 2012 concerning two emergency cash injections received from its Middle Eastern investors in 2008 during the financial crisis. The money Barclays [...]
Taylor Wimpey chief executive Pete Redfern launches a major review into UK home ownership with Labour shadow minister John Healey February 4, 2016 Taylor Wimpey chief executive Pete Redfern will today launch a major review into British home ownership, at the request of Labour shadow housing minister John Healey. The new, independent review will be carried out by Redfern and a panel of expert advisers, including former Monetary Policy Committee (MPC) member Kate Barker and Andy Gray, former managing [...]