Volatility was the name of the game in 2020: What were the most popular sectors, funds and shares? January 4, 2021 Volatility was the name of the game in 2020 as the pandemic wreaked havoc across the globe. The spread of Covid-19 was a shock to the financial system, stock markets plunged and companies battened up the hatches. Despite the vaccine breakthroughs markets are still deep in a tunnel of uncertainty about when the global economy [...]
FTSE falls into the red as Brexit deal wait continues December 24, 2020 The FTSE 100 has fallen into the red as mid morning passes and the UK waits to hear if it has secured a deal with the European Union. At just past 11am London’s main market dropped 0.44 per cent after initially opening on the up. The market opened up 66 per cent this morning, following [...]
FCA fines fall by half in 2020 as Covid takes hit on enforcement December 21, 2020 The Financial Conduct Authority handed out £183.6m worth of fines this year, more than half the total bill in 2019. The number of fines has fallen too, from 21 to just ten. Lawyers believe the slowdown is due to the pandemic disrupting enforcement activities, not least the FCA’s ability to conduct witness and suspect interviews. [...]
Business confidence surged on vaccines before new lockdowns December 21, 2020 The start of the UK’s coronavirus vaccination programme drove up business confidence to a nine-month high in December, a survey has shown. However, the Lloyds business barometer gave a picture of businesses’ attitudes before the government tightened the lockdown rules over Christmas, bringing new uncertainty to firms. Prime Minister Boris Johnson on Saturday announced London [...]
Lloyd’s pledges to end investment in coal in first climate change policy push December 17, 2020 Lloyd’s of London will end investment in thermal coal-fired power plants, thermal coal mines, oil sands and new Arctic energy exploration activities as part of the market’s first ESG strategy. Lloyd’s typically has a more hands-off approach when it comes to climate change strategy. The market acts as regulator for around 100 syndicate members, and [...]
Working capital for the capital: an interview with Lloyds Bank Commercial Banking’s SME London regional director, Paul Evans December 16, 2020 BBLS. CBILS. Furlough. Lockdown. ‘You’re on mute…’. Just some of the acronyms, words and expressions that have dominated 2020. “A very unusual year in every context” is how Paul Evans, Lloyds Bank Commercial Banking’s long-serving SME (small and medium-sized enterprise) London regional director, reflects on an unprecedented 12 months. Evans has been with Lloyds Bank [...]
Barclays fined £26m for mistreatment of customers in arrears December 15, 2020 The UK’s financial watchdog has fined Barclays £26m for failures in its treatment of customers who fell into financial difficulties. The Financial Conduct Authority (FCA) found that Barclays had mistreated some retail and small business customers who fell into arrears between April 2014 and December 2018. Read more: Parlez-vous Français? Paris’ finance sector gets ready [...]
Lloyds pay black staff 20 per cent less than their white peers December 11, 2020 Lloyds Banking Group revealed that black staff at the company receive 20 per cent less pay than their colleagues.
Crypto AM shines its Spotlight on Coinrule December 7, 2020 Coinrule is a beginner-friendly and safe trading platform enabling you to send automated trading instructions to your favourite exchanges such as Binance, Kraken and Coinbase. Its intuitive interface gives you the tools you need to compete with professional ‘Algorithmic’ Traders and Hedge Funds. Today, up to 90% of markets are managed by ‘bots’, run by [...]
Snakes and Ladders: Who is moving jobs in the City this week? December 3, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This week, [...]