UK retailers suffer worst footfall and spending for half a decade February 12, 2018 Britain’s retailers have been dealt another blow at the start of 2018, suffering the worst January for sales and footfall in half a decade. Figures released today by retail experts Springboard show footfall dropped by 1.6 per cent last month, the worst result for January since 2013, with customer numbers on high streets falling by [...]
There’s a fresh mission to woo foreign fintech startups to the UK after Brexit February 8, 2018 The UK is seeking to woo foreign fintech firms after Brexit with more than 50 startups set to head to London. The government and City institutions will host companies from more than 13 countries inside the European Union and outside the bloc, in a fresh bid to shore up the sector. Read more: 2017 was [...]
RBS is selling its London Bishopsgate headquarters in cost-cutting drive January 23, 2018 Royal Bank of Scotland (RBS), which is currently majority-owned by the UK government, is planning to flog its London headquarters post-2019 as it pushes ahead with an extreme cost-cutting drive. The bank will move out of the 280 Bishopsgate building back down the road to number 250, which it is planning to revamp later this [...]
Open Banking: NatWest warns fraudsters could scam customers through new Open Banking regulations January 13, 2018 As Open Banking comes into effect today, NatWest has warned customers of the risks the new regulations could bring. New Open Banking rules give customers of nine banks, including RBS-owned NatWest, the ability to share their financial data from personal current accounts electronically with other banks and businesses. The plans aim to make it easier [...]
Royal Bank of Scotland (RBS) chops 680 jobs in the run-up to Christmas as 259 RBS and Natwest branches are marked for closure December 1, 2017 Royal Bank of Scotland (RBS) has entered December with an unwelcome gift for its employees, announcing 680 jobs will be cut as it marks 259 branches for closure. Blaming the rise of online banking, RBS said it would get rid of 62 Royal Bank of Scotland branches and 197 Natwest branches. Read more: Royal Bank [...]
Xavier Rolet’s replacement at the London Stock Exchange: Runners and riders November 30, 2017 Xavier Rolet is a tough act to follow: a strong strategic hand on the tiller at one of the City’s central financial institutions. The London Stock Exchange (LSE) Group role is one of a kind, with systemic importance through its derivatives clearing house LCH and trillions of pounds of investments indexed to its separate funds [...]
Ashish Thakkar to leave the board of Atlas Mara, the African banking group he co-founded with Bob Diamond October 3, 2017 Former Barclays chief executive Bob Diamond is to be left as the sole founder on the board of African financial services group Atlas Mara, as it was announced today that co-founder Ashish Thakkar would be leaving. His departure from the board comes as a result of new shareholder Fairfax Africa, a Canada-based investment fund, wanting [...]
After financial crisis hit, retail banks are building up their reputations (to “average”): These are the UK’s most and least trusted lenders | City A.M. May 31, 2017 The reputation of UK retail banks is growing, with Nationwide, Virgin Money and Halifax leading the way. But Royal Bank of Scotland, TSB and HSBC are trailing others in the latest UK RepTrak ranking, compiled by the Reputation Institute. The figures, based on more than 35,000 UK customer ratings collected in the first quarter of [...]
Q&A: Why are brands like Marks and Spencer pulling their advertising from Google? March 20, 2017 A newspaper investigation uncovered examples of several high profile brands being advertised against extremist content such as videos of a preacher banned from Britain and from white extremist David Duke insulting Jewish people. The BBC, Channel 4, The Guardian as well as the Financial Conduct Authority, Transport for London and the Royal Navy, advertising for [...]
Remain campaign advertising agency M&C Saatchi eyes Scottish independence referendum role March 16, 2017 Nicola Sturgeon’s demand for a Scottish referendum may not have gone down too well with companies hoping for some stability after the EU vote last summer. But the vote, which the government wants to reject, presents an opportunity for some. Advertising agency M&C Saatchi, which today reported growing revenues and profits for 2016, will be aiming [...]