Post SVB reforms to UK banking regulation leaves sector divided April 19, 2023 Figures in the banking sector are divided over suggested reform to deposit protection, with regulators reported to be mulling raising the deposit insurance threshold in the wake of the collapse of Silicon Valley Bank (SVB) last month. According to a report from the Financial Times, regulators are considering updating the Financial Services Compensation Scheme (FSCS) [...]
Bennett on Business: The CBI must demonstrate value for money April 19, 2023 When it was founded in 1965, the Confederation of British Industry was intended to disrupt the cosy dialogue between the Wilson Government and the Trades Unions. Back then the Unions called the shots – they were invited into Number 10 to discuss industrial and economic policy, leaving assorted company leaders out in the cold. As [...]
As long as businesses want to keep their hands clean, we will need a body like the CBI April 19, 2023 As long as businesses want to outsource their dirty work to industry groups, they will need a body like the Confederation of British Industry.
HSBC exaggerating costs of spinning off Asia unit, Ping An argues in rare rebuke April 18, 2023 Ping An, HSBC’s largest shareholder, has publicly criticised the bank ahead of its AGM as it confirmed it will back calls to restructure the lender. The Chinese insurer, which holds an eight per cent stake in the bank, has long argued in favour of spinning off HSBC’s Asian business, which generates the vast majority of [...]
Moneysupermarket sales lifted as Brits go deal hunting to protect finances April 18, 2023 A boom in consumers shopping around for better savings accounts has boosted sales for comparison site Moneysupermarket. The platform profited from people hunting down better deals throughout last year and saw revenues across its money division, which compares current and savings accounts, credit cards, and loans, jump by 37 per cent. The company said this was [...]
We have the history to attract investment, now we need the reforms to the City too April 18, 2023 London has the benefits of proximity to Europe, the English language and the common law. But to keep business investment coming to our shores, we need to push ahead with new reforms, writes Andrew Griffith Is the UK the best place in the world for business? Absolutely. For over 400 years, the UK has pioneered [...]
Ping An to vote for HSBC break-up at upcoming AGM – reports April 17, 2023 Ping An has thrown its weight behind proposals from investor Ken Lui to break up HSBC ahead of the bank’s Annual General Meeting (AGM) in early May, according to Reuters. The Chinese insurer will vote in favour of resolutions calling for the bank to lift its dividends and for it to provide regular updates on [...]
AA: Shareholders weigh up major sale of stake in roadside breakdown giant April 17, 2023 The AA’s shareholders are considering the sale of a significant stake in the £2.5bn breakdown specialists, as first reported by Sky News’ Mark Kleinmann. Towerbrook Capital Partners and Warburg Pincus have hired Goldman Sachs to advise on the deal, which could result in three shareholders taking an equal slice of the company. Analysts told Sky [...]
Aviva injects £150m into VC arm as it commits to funding more tech start ups April 17, 2023 Aviva has pumped a fresh £150m into its venture capital arm today as it looks to buck a funding slowdown and invest in firms that will add to its “customer journey”.
As The Perkcession Bites, What Workplace Benefits Are Important Now? April 17, 2023 With layoffs at Goldman Sachs, Morgan Stanley and Bank of New York Mellon racking up thousands of job cuts, those working in the financial services sector are understandably worried about contagion, and whether their own jobs will be safe. The collapse of Credit Suisse in March, and its subsequent rescue by rival UBS, as well [...]