FCA questions banks over Whatsapp use October 10, 2022 The UK’s financial watchdog is quizzing top banks on the use of Whatsapp by staff as it looks to follow US regulators in a clampdown on the use of personal devices.
LendInvest warns of mortgage volatility as it ‘tightens credit appetite’ October 10, 2022 Mortgage fintech LendInvest said it was tightening its “credit appetite” today as it grapples with the volatility that has shaken the market in the wake of the government's so-called mini-budget.
City groups rally Kwarteng on post-Brexit financial services reforms October 9, 2022 City groups are calling for more speed and clarity from the government over proposed changes to the financial services rulebook post-Brexit as the Chancellor comes closer to outlining his plans to unleash the City. TheCityUK tonight urged the Treasury to bring forward changes to “ensure continued high-quality proportionate regulation”, while UK Finance called for “a sustained [...]
Tax credit experts Adsum: Firms can’t wait for Truss to solve problems – pursuing digital transformation is key October 7, 2022 With Liz Truss’ government looking to kickstart the economy through low taxes and deregulation, City PM sat down with the head of a fintech tax credit specialist, to find out how businesses can overcome challenges. Co-Founder and Director at Adsum, Freddie Digby, spoke at length about the challenges facing UK businesses at present, and while [...]
Credit Suisse offers to buy back $3bn of its own debt October 7, 2022 Beleaguered bank Credit Suisse has offered to buy back $3bn of its own debt. It announced this morning it was making a cash tender offer in relation to eight euro or pound sterling denominated senior debt securities. This comes amid doubts over the solidity of Credit Suisse, which have been mounting after a string of [...]
High-cost lenders pose ‘increased’ risk as cost of living rises, FCA warns October 6, 2022 High cost lenders need to tighten their lending criteria as cash-strapped Brits turn to debt to cope with the rising cost of living, the financial watchdog has warned.
PCF Bank shares tank after emergency lending freeze October 5, 2022 Shares in London-listed PCF Bank have tanked more than a third today after the firm announced it would halt lending activity as it struggled with cash levels following a failed takeover.
City sitdown: Private equity should learn to be more emotional, argues City grandee October 5, 2022 Whether you like it or not, private equity is a significant part of the UK economy and accounts for almost 50 percent of all deal value, double the level from just five years ago, according to a recent deal analysis from PwC. Its fingerprint has been all over household names including Asda, the AA, Morrisons and [...]
HSBC mulls ditching Canadian business amid Ping An breakup pressure October 5, 2022 HSBC is mulling hiving off its Canadian business in a move that could raise billions for Britain’s biggest bank. The banking giant has asked JP Morgan to identify possible buyers of its Canadian arm. Sky News first reported the news today. If HSBC did leave Canada – where it has built up a sizable £6bn [...]
Credit Suisse shares rise as crisis fears settle October 4, 2022 Shares in scandal-sticken lender Credit Suisse rose nearly five per cent this morning as fears of an impending crisis began to settle after a turbulent day of trading yesterday.
