Banks say FCA is hindering innovation: Watchdog not responding quick enough to tech trends January 28, 2022 Two thirds of all UK banks and financial institutions think the City regulator, the FCA, is not responding quickly enough to new trends, thereby hindering innovation within the sector. When quizzed about the roadblocks they face, more than half said they have been held back from trialling new technologies due to a lack of formal [...]
Mastercard revenue inches past forecasts as travel spending makes a comeback January 27, 2022 Mastercard had its revenue inch past analyst forecasts over the past three months, as travel spending on its cards returns to pre-pandemic levels. Beyond a spike in international travel spending, which had been weighed down by the Omicron wave which began late last year, domestic spending also rose in its fourth quarter. Cross border volumes [...]
Deutsche Bank posts best profits in a decade in sea change for ailing lender January 27, 2022 German banking giant Deutsche Bank smashed expectations to deliver its best profits for a decade, the lender announced today. Rampant global deal making driven by investors and firms rushing to deploy a wave of idle cash to snap up companies boosted Deutsche Bank’s bottom line. Profits climbed more than fourfold over the last year to [...]
Post-Brexit boost for the City as London takes top spot in global financial powerhouse rankings January 27, 2022 London continues to hold the top spot for financial and professional services in terms of overall offer when compared to other global destinations, including New York, Singapore, Hong Kong, Paris and Frankfurt, according to new figures published this morning. London received an overall competitiveness score of 61, followed by New York (58) and Singapore (53). [...]
Starling Bank and Barclays in the race to carve up Kensington January 27, 2022 Digital challenger bank Starling and Barclays are among the names looking to snap up a piece of mortgage lender Kensington after its private equity owners put the firm up for sale last year, according to reports. Starling is reportedly up against Barclays and another high street lender to buy Kensington’s lending platform, while american investment [...]
St James’ Place boosts inflows by £4.69bn in latest quarter January 27, 2022 Wealth manager St James' Place has beaten expectations, ending the year with a record £154bn of assets under management.
High Street bank TSB returns to profit thanks to record mortgage lending January 27, 2022 High street bank TSB has revealed it returned to profit in 2021 thanks to record mortgage lending and a bounce back in the wider economy. The Spanish-owned lender posted annual pre-tax profits of £157.5m against losses of £204.6m in 2020. It comes after TSB notched up its highest-ever gross mortgage lending at £9.2 billion for [...]
Euromoney revenue up 19 per cent as events make comeback and subscriptions rise January 27, 2022 Euromoney Institutional Investor reported a “strong start to the year” as it shifted towards a subscription model and took a blended approach to its events schedule. The B2B information group reported revenue of £93.3m up 19 per cent, buffered by underlying revenue growth in both subscriptions, up eight per cent, making up 67 per cent of [...]
Former Barclays boss Staley pressed JPMorgan to keep Epstein as client January 26, 2022 Former Barclays boss Jes Staley pushed his ex-employer JPMorgan to retain Jeffrey Epstein as a client even though the disgraced financier had been convicted of prostitute offences. Staley pressed the Wall Street giant to keep Epstein before the bank parted with him as a customer in 2013, according to two people close to the situation. [...]
Exclusive: CME crypto futures products a smash hit with investors January 26, 2022 Surging demand for crypto exposure amongst investors has created a bustling futures market according to the Chicago Mercantile Exchange.
