FTSE edges higher as relief over deflating trade war tensions sinks in August 30, 2019 Britain’s FTSE100 stock index nudged higher this morning as a relief rally over China deflating trade war tensions entered a second day. The blue-chip index was given a further boost by a continued slide in the pound’s value, which helped to boost exporters. China’s foreign ministry said this morning that it was continuing to hold [...]
PPI mishap shows tech vulnerabilities of the banks August 29, 2019 The deputy chief executive of a global bank recently summed up what he saw as the sector’s biggest challenge: “Our chief concern is no longer how to attract the best bankers. It is how to attract the best IT staff.” This evening’s shambolic payment protection insurance (PPI) deadline once again put a spotlight on that [...]
Banks buckle under strain of PPI claims August 29, 2019 Some of Britain’s biggest banks came under fire today after suffering a series of IT failures in the run-up to a long-awaited payment protection insurance (PPI) deadline. A number of major high-street lenders were rushing to fix website glitches and jammed phone lines this evening following an 11th-hour stampede of consumers making complaints for mis-sold [...]
Watchstone accuses Slater and Gordon of using ‘illicit back channel’ during disputed Quindell deal August 29, 2019 Insurance outsourcer Watchstone struck back in its High Court scrap with Slater & Gordon today after it was granted permission to file a counter-claim against the personal injury law firm. Watchstone said it recently discovered an “illicit back channel” Slater and Gordon’s corporate finance adviser Greenhill & Co allegedly used to access confidential information about [...]
City Moves for 29 August – Who’s switching jobs at Shieldpay, Tissue Regenix and the Law Debenture Corporation? August 29, 2019 Today’s City Moves includes Shieldpay, Tissue Regenix and the Law Debenture Corporation. Shieldpay London-based fintech firm Shieldpay has announced the appointment of Nick Ogden and Jim Cowles as independent non-executive directors to the company’s board. Nick has founded and led multiple high-profile financial companies, including payments processing company Worldpay, a pioneer in the payments industry [...]
Swedbank appoints new CEO after money-laundering allegations August 28, 2019 Swedbank has appointed a new chief executive as it attempts to rebuild confidence in the bank after it became embroiled in a money-laundering scandal. Jens Henriksson, the chief executive of insurance group Folksam, will take over from interim boss Anders Karlsson who stepped in after Birgette Bonnesen was dismissed earlier this year. Read more: Swedbank [...]
Natwest customers wrestle with IT issues as PPI deadline looms August 28, 2019 Natwest customers have complained of being unable to make PPI claims ahead of tomorrow’s deadline for lodging complaints about mis-sold plans. Customers took to Twitter to express their frustration at not being able to make claims. “The [Natwest] website is down, personal banking on-line system is down and the PPI call line system is malfunctioning! [...]
One day to go until the PPI deadline: How to make a PPI claim August 28, 2019 Consumers are rushing to make last-minute PPI claims as tomorrow’s deadline looms. Here’s how to get your claim submitted before the cut-off time of 11.59pm on 29 August. What is PPI? PPI – or Payment Protection Insurance – was intended to cover loan repayments if the person who took out the loan became unable to [...]
League One side Sunderland in advanced sale talks with MSD Capital partners and Michael Dell August 23, 2019 US investors and partners at MSD Capital are closing in on an agreement to buy League One football club Sunderland. John Phelan, Glenn Fuhrman and Rob Platek, who are the most senior figures at MSD Capital, a private investment firm that exclusively runs billionaire Michael Dell’s fortune, are in advanced talks to buy the English [...]
RBS and Santander rapped over PPI reminders August 23, 2019 Santander and the Ryal Bank of Scotland apologised to customers today as the UK’s competition watchdog scolded them for not properly reminding PPI customers they were able to cancel their plan. The Competition and Markets Authority (CMA) said it will force the two banks to appoint independent auditors to scour through their payment protection insurance [...]