Bank of England examining claim Metro Bank put customers’ money at risk with ‘pirated software’ April 2, 2024 The Bank of England is examining a claim that Metro Bank “pirated” a US company's software and put customers’ data at risk, City PM has learnt.
Brits lose more than £2.6bn to investment scams since 2020, pension body warns April 2, 2024 Britons have lost more than £2.6bn to investment fraud since the start of 2020, according to new research, as experts warn of the rise of scams originating on social media.
UBS to launch new share buyback as Credit Suisse deal continues to pay off April 2, 2024 Swiss banking giant UBS has promised to launch a new share buyback programme of up to $2bn, after suspending its previous plan last year following its acquisition of former rival Credit Suisse.
HSBC plots special dividend after completing sale of Canadian business April 2, 2024 HSBC said the deal will unlock "significant value" for the bank. Completion of the transaction will result in an estimated gain on sale of $4.9bn in HSBC's first quarter results.
Week ahead: Investors look for rate cut clues on both sides of the Atlantic April 1, 2024 Markets will be closely watching key economic releases in the US and Europe this week, which will offer clues on the likelihood of near-term interest rate cuts.
Amex freezes pension payouts for thousands of Brits for tenth year April 1, 2024 American Express has sparked criticism for freezing pension payments for thousands of former British employees for the tenth year in a row.
Government quietly pauses Natwest retail bidding process March 31, 2024 The Treasury has suspended a bidding process to run the sale of its stake in Natwest, in a move which throws doubt on the structure of the much touted ‘Tell Sid’-style retail deal, City PM can reveal.
Could April’s minimum wage hike dent hopes of a June rate cut? March 29, 2024 The minimum wage will rise from £10.42 to £11.40 per hour, an increase of 9.4 per cent, in April. Will it push inflation higher?
Pair handed suspended prison sentences for ‘systematic’ £3m mortgage fraud March 28, 2024 Two men have received suspended prison sentences for making £3m worth of fraudulent mortgage applications following a prosecution brought by the Financial Conduct Authority (FCA).
Arbuthnot sees surge in profit after SME deposit growth and ‘helpful’ interest rate hikes March 28, 2024 Arbuthnot Banking Group has reported a surge in annual profit on the back of growth in its small business offering and higher interest rates.
