Co-operative Bank calls in top bankers to explore takeover bids February 23, 2022 The Co-Operative Bank has called in top investment bankers as it begins eyeing up potential acquisition targets and exploring a move to consolidate the UK’s mid-size banking market.
Barclays freezes ex-boss Staley’s bonus until Epstein dispute resolution February 23, 2022 Barclays has frozen all scheduled bonus payments to its former boss Jes Staley until a dispute between he and Britain’s financial regulators over the way he characterised his relationship with sex offender Jeffrey Epstein is resolved. The high street lender said today all bonus payments, which amount to around 70 per cent of Staley’s total [...]
Johnson says UK preparing to ban Russia from issuing state bonds in London February 23, 2022 Boris Johnson has said he is preparing to ban Moscow from issuing sovereign bonds in the UK and bar Russian companies from raising money in Canada if Vladimir Putin makes further military incursions in Ukraine. The Prime Minister today waved away calls that the UK’s set of sanctions yesterday in response to [...]
City exclusive: London court issues arrest warrant for high-profile venture capitalist Julie Meyer February 23, 2022 The High Court has issued an arrest warrant for Julie Meyer, the founder and CEO of Swiss investment fund Viva Investment Partners (VIP), after she failed to attend a court hearing last week. The decision to issue a warrant for Meyer’s arrest comes after the High Court this month handed the high-profile businesswoman a [...]
Champagne in Canary Wharf as Barclays profits more than double to £8.4bn but Jes Staley’s bonus suspended February 23, 2022 Barclays has revealed pre-tax profits soared to £8.4bn in 2021 as it released cash set aside for pandemic loan losses and notched up record investment banking earnings. The banking giant more than doubled profits from £3.1bn in 2020 thanks to the release of £700m in bad debt provisions, compared with £4.8bn set aside for Covid [...]
FCA brings in consultants to tackle authorisation backlog as it races to recruit new staff February 23, 2022 The UK’s financial industry regulator has brought in consultants to help it tackle the backlog in new authorisations, as it pushes forwards in its efforts to recruit new staff. Speaking to the Treasury Committee, Sheldon Mills, executive director of the FCA, said the watchdog had hired consultants as it aims to cut the authorisation backlog, [...]
Metro Bank says turnaround plan is working after cutting losses to £245m February 23, 2022 Metro Bank has said its turnaround plan is working, despite losing £245.1m last year, after its revenues increased 17 per cent despite the economic impacts of Covid-19. The London retail bank said its efforts to cut costs and win over customers had started to work, after it set out its turnaround plan, to rejuvenate its [...]
Barclays freezes share awards for ex-boss as Staley fights Epstein probe February 22, 2022 Barclays has frozen share awards to Jes Staley, its former chief executive, as he contests the an investigation into his ties with Jeffrey Epstein.
HSBC profits double to £13.9bn as lender rebounds from pandemic slowdown February 22, 2022 HSBC has reported profits more than doubled last year as the lender recorded stellar growth across its divisions, driven by the release of expected credit losses stored up over the pandemic and a higher share of profits from the firm's associates.
Named and shamed in ‘global game of chess’: The Russian banks and businessmen the UK has imposed sanctions on February 22, 2022 Five banks named by Boris Johnson earlier today only have a small footprint in the UK, although the largest one Promsvyazbank did have ambitions to float on the London Stock Exchange a decade ago. The sanctions imposed on the five banks and three Russian businessmen are unlikely to have a significant effect on British businesses [...]
