HSBC to permanently shutter 69 bank branches after footfall plummets March 15, 2022 HSBC has announced today it will permanently shutter 69 of its bank branches across the country after the pandemic and the rise of digital banking caused usage to plummet.
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Onlookers expect Russia to default on £90m duo international bond repayments March 15, 2022 Onlookers are expecting Russia to default on its foreign creditors, as Moscow seeks to repay two bonds in roubles – which has fallen over 40 per cent against the dollar. It would be the first time this had occurred since the Bolshevik revolution in 1917 under Bolshevik Lenin, The Times first reported. Russia’s economy is [...]
Ford accelerates EV transition with seven new cars March 14, 2022 Ford has announced plans to introduce seven new electric vehicles to the European market by 2024 - including four commercial vehicles.
Small business lending tumbles amid strong economic rebound March 14, 2022 A strong economic recovery from the Covid-19 crisis led to borrowing among small businesses falling off a cliff last year, reveals fresh figures published today. Small firms took on £22.6bn in debt over the whole of 2021, down over 64 per cent compared to the previous year, according to figures from banking body UK Finance. [...]
HSBC to sell off Greek branches in £4.5bn push further into Asia March 14, 2022 HSBC is set to sell off its Greek retail bank as it doubles down on its Asia operations – the lenders largest market. The deal with local lender Pacreta Bank forms part of a wider five-year restructuring plan at HSBC, which included cutting its loss-making US retail bank last year. The figure of the deal [...]
Another BNP Paribas lawyer in racist slur furore March 13, 2022 A top lawyer at French bank BNP Paribas has called an Asian co-worker a “Cheeky-Chink”. Benoit Faure, head of legal for equity capital markets at the bank, made the slur last May after the employee asked him to hand over spreadsheet data. Faure’s comment was made to another colleague after he had already thanked the [...]
Berkshire Hathaway says shareholders should vote against plans to replace Warren Buffett as chairman March 12, 2022 Berkshire Hathaway has called on shareholders to vote against plans to replace Warren Buffet as chairman of the Omaha headquartered investment company. The Board of Berkshire Hathaway said shareholders should vote down a proposal, put forward by Pennsylvania investment firm Federated Hermes, to separate the positions of Chairman and CEO within the firm. The move [...]
Barclays suspend Chelsea FC bank account: Reports March 11, 2022 Barclays has temporarily suspended Chelsea FC’s bank account as it assesses the impact of sanctions, according to multiple reports. The club’s owner Roman Abramovich was placed on the UK’s sanctions list yesterday morning over his links to Vladimir Putin and his part-ownership in a firm allegedly linked to the production of Russian military equipment. The [...]
