FCA’s boss reveals the watchdog is having a hard time signing up data and tech specialists December 9, 2021 City watchdog the FCA has revealed it is struggling to hire in-demand technology specialists. Financial Conduct Authority (FCA) chief executive Nikhil Rathi told MPs on the Treasury Select Committee that it was having to “manage the challenges” of hiring, particularly for data and technology roles. Rathi said the “hot” jobs market and moves by big [...]
Growth capital business a key focus for long-term strategy at Numis, says co-CEO December 8, 2021 City broker Numis this morning reported its full year revenue swelled nearly 40 per to hit £215.6m, as a buoyant IPO market coupled with stabilised markets and rising deal fees helped the firm deliver its second record annual revenue performance in a row. Profit before tax doubled in the year to September 30, which Numis [...]
German parliament electing Olaf Scholz as chancellor marks Angela Merkel’s last day as leader of Europe’s largest economy December 8, 2021 Germany’s parliament has opened a new era for the European Union’s most populous nation after Angela Merkel’s 16-year tenure by electing Olaf Scholz as the country’s ninth post-war chancellor. Scholz’s government takes office with high hopes of modernising Germany and combating climate change, but faces the immediate challenge of handling the country’s toughest phase yet [...]
Visa rolls out crypto advisory service for banks and retailers December 8, 2021 Visa has today launched a global crypto advisory service for banks and merchants, as digital currencies gain traction. The world’s largest payment processor will educate financial institutions, which are keen to attract and retain customers, about cryptocurrencies as demand for such services has rocketed. Their new offering is also aimed at merchants exploring non-fungible tokens, [...]
Exclusive: Libor trader Tom Hayes has appeal request quashed December 7, 2021 Disgraced trader Tom Hayes who was jailed for rigging the inter bank lending rate has had an appeal request rejected.
Zopa pulls out of P2P consumer lending as it blames cowboy firms for ‘damaging customer trust’ December 7, 2021 Peer-to-peer giant Zopa has started to inform customers it is closing down its P2P consumer investment division, transferring its loan portfolio to its relatively new bank unit. In an email to customers, Natasha Wear, peer-to-peer CEO at Zopa, wrote that “after 16 years of peer-to-peer consumer investments at Zopa, we’ve taken the difficult decision to [...]
Paragon Banking Group reports record full year profits on lending surge December 7, 2021 Challenger bank Paragon Banking Group has reported “outstanding” full year performance as lending volumes across the business swelled above pre-pandemic levels. “We have delivered an outstanding performance in 2021, which is testament to the strength of our operating model, the quality of our customer base and the capability and adaptability of our people,” chief executive [...]
London Stock Exchange shares jump on news it will acquire Quantile for £274m December 6, 2021 Shares in London Stock Exchange Group (LSEG) rose 1.3 per cent this morning, after the bourse said it has agreed to buy Quantile Group, in a bid to strengthen the risk management solutions it offers traders. In a statement released today, the UK’s stock exchange said it would pay as much as £274m for Quantile, [...]
Blackrock and Vanguard rake in billions: Omicron variant makes Moderna and Pfizer shareholders more than $10bn December 6, 2021 Big pharma executives and shareholders saw their wealth skyrocket in the week after the Omicron variant was discovered, with eight top Pfizer and Moderna shareholders making a combined $10.3bn. Campaigners have accused pharma executives of “making a killing from a crisis they helped to create”, blaming “grotesque” levels of vaccine inequality for creating the conditions [...]
Global banking bigwigs slapped with millions in fines for FX rigging December 2, 2021 Some of the world’s largest banks were today slapped with millions of pounds in fines for their role in rigging foreign exchange markets. HSBC, Barclays, Credit Suisse and NatWest were each reprimanded by the European Commission for having employees on their books that created a cartel that spiked currency markets. HSBC was hit with the [...]
