DEBATE: With Greta Thunberg on a sailing trip to protest climate change, are banks taking the threat seriously? August 19, 2019 With Greta Thunberg on a sailing trip to protest climate change, are banks taking the threat seriously? Nick Jacobs, chief executive at real estate investment company Rowan, says YES. Climate change makes investment change an imperative, and the wider investment and finance community needs to take this to heart. Thankfully, the signs are that finance [...]
Dividends break record but uncertainty fuels slowdown August 19, 2019 Global dividends rose to a new record in the last three months, but investors held back their celebrations as growth cooled in the wake of rising global economic uncertainty. Shareholders were paid out $513.8bn (£422.8bn) in the second quarter of 2019, hitting an all-time high but rising at the slowest pace for more than two [...]
Watchdog’s ban on ex-Barclays executive holding senior positions overturned August 16, 2019 A ruling by the financial watchdog banning former Barclays executive Andrew Tinney from holding senior positions at financial institutions has been overturned. Tinney, former chief operating officer of Barclays Wealth, was also cleared of misleading the Financial Conduct Authority (FCA) and the US Federal Reserve Bank of New York, but a finding he “acted without [...]
PwC awarded £16.5m contract to manage Northern Rock remaining assets August 16, 2019 PwC has been awarded a contract worth £16.5m to manage the government’s remaining assets in Northern Rock. It comes 12 years after the accountancy firm was criticised for being complacent in its audits of the failed lender, which collapsed in 2007. Read more: Moody’s forecasts fast growth for Islamic banking in next five years PwC [...]
Moody’s forecasts fast growth for Islamic banking in next five years August 15, 2019 Islamic banking within the Commonwealth of Independent States (CIS) will grow substantially over the next five years, according to Moody’s Investors Service. The US agency is forecasting financial expansion in many of the CIS counties during the years ahead as a result of government initiatives built to nurture the sector. Read more: Challenger bank Monzo [...]
Rabobank profits fall by a quarter as lender hit with charges August 15, 2019 Pre-tax profit at the Dutch lender Rabobank fell by 26 per cent in the first half of the year, the company said today, after it was hit with impairment charges and struggled with low interest rates. Read more: Four lenders awarded £40m from RBS banking competition funds The figures Rabobank’s operating profit before tax dropped [...]
ECB tells banks in Britain to speed up Brexit preparations August 14, 2019 Banks have been urged to speed up their Brexit preparations by the European Central Bank (ECB), which warned yesterday that London-based firms are falling behind on potential plans to move jobs. The Eurozone’s top banking watchdog has called on firms to step up their contingency plans as the UK nears Downing Street’s 31 October deadline [...]
Standard Chartered eyes growth in private banking with hiring spree August 14, 2019 Standard Chartered is set to embark on a recruitment spree in Asia as part of a plan to grow its private banking assets to roughly $100bn (£82bn). Over the next two to three years the lender is set to hire 30-40 private bankers every year to bulk up its private bank assets by 50 per [...]
Atom Bank, iwoca, Modulr Finance and Currencycloud awarded £40m from RBS banking competition fund August 14, 2019 Four UK financial firms have been handed a combined £40m today from an RBS fund aimed at boosting business banking competition. Atom Bank, iwoca, Modulr Finance and Currencycloud were awarded the new capital as part of an effort to boost lending and payments services to SMEs in the UK. Read more: Barclays stops banking cryptocurrency [...]
City watchdog delays new online payments rules after industry appeals for more time August 13, 2019 The financial regulator has agreed to delay new rules on online payments for 18 months after industry bodies called for more time to adapt to the changes. The new rules, known as strong customer authentication (SCA), will create an additional layer of verification for online payments to help reduce fraud. Read more: City watchdog launches [...]
