EU watchdog boss confident ‘no imminent risk’ to banks from no-deal Brexit March 26, 2019 A no-deal Brexit would bring no imminent risks to Eurozone banks, the head of an EU banking watchdog has said. Elke Koenig, head of the Single Resolution Board (SRB) – which deals with failing banks – said EU and UK financial institutions, as well as Eurozone lenders, had put in the preparations to avoid financial [...]
Mortgage finance firm Lendinvest taps three banks for £500m London float March 25, 2019 Online property finance marketplace Lendinvest has chosen three banks to lead its planned £500m float on the London Stock Exchange this year. It is understood Lendinvest, which provides funding for property investors, developers and landlords, has tapped Goldman Sachs and Barclays as joint global coordinators. Read more: Mortgage finance hub Lendinvest targets £500m London listing [...]
Goldman Sachs narrows gender pay gap but women still earn 51 per cent less per hour March 25, 2019 Goldman Sachs narrowed the gender pay gap in its UK business last year but still paid women an average 51 per cent less than men per hour. The US investment bank said it paid men and women equally for doing the same job but the gap reflected a higher number of men in senior and [...]
Brexit alarm bells: City optimism tanks at fastest rate since financial crisis March 25, 2019 Britain’s biggest business group today warns that the “alarm bells have reached deafening levels” as the political crisis surrounding Brexit threatens to force the Prime Minister from office. Read more: Brexit secretary admits indicative votes 'could be ignored' The Confederation of British Industry (CBI) declared Brexit a “national emergency” as it revealed that financial services [...]
Provident puts up staunch defence against ‘risky and flawed’ £1.3bn Non-Standard Finance takeover bid March 24, 2019 Provident Financial urged shareholders to reject the “risky and flawed” £1.3bn bid from rival Non-Standard Finance (NSF) as the two doorstep lenders continued their war of words. Provident issued a 47-page defence against its smaller rival’s hostile takeover bid and strengthened its own board over the weekend. Read more: Provident restores dividend as doorstep lender [...]
Barclays director Chris Pilling surprise candidate to become new FA chief March 23, 2019 Barclays director Chris Piling is one of the final candidates in the race to take over as chief executive of the Football Association, according to Sky News. Piling is a leading contender to replace Martin Glenn at the FA but faces competition from Mark Bullingham, the current chief commercial and football development officer at the [...]
RBS to wind down £1bn worth of local council lobos loans by end of 2019 March 23, 2019 The Royal Bank of Scotland (RBS) will attempt to wind down £1bn of controversial bank loans given to local councils across the UK. The move comes after criticism from campaigners and shadow chancellor, John McDonnell, who claimed that high payments had led to a diversion of cash from council services. Read more: CYBG raises business banking [...]
Bitcoin critic warns central banks ‘risk financial stability’ by issuing digital currencies March 22, 2019 A prominent bitcoin critic has warned central banks against issuing their own digital currencies. Read more: JP Morgan launches its own cryptocurrency Augustin Carstens claimed central banks issuing digital tokens would need to take on customer-facing tasks that would result in “huge operational consequences for central banks in implementing monetary policy and implications for the stability [...]
Minister blasts Swedbank money laundering report March 22, 2019 Sweden’s financial market minister has blasted Swedbank after the under-fire bank released a short and highly redacted report into a money laundering scandal. Per Bolund said Swedbank has been “too confident” in its denials that money laundering was a serious problem at the bank. Read more: Sweden and Estonia probe Swedbank over money-laundering report His [...]
Deutsche Bank management board members to receive bonuses for first time since 2014 March 22, 2019 Deutsche Bank’s management board members were awarded bonuses this year for the first time since 2014 as the bank returned to profit, it disclosed today. The board received €55.7m (£48.2m) for 2018, compared to €29.8m the previous year. Read more: Deutsche Bank drops down investment bank table while Barclays gains ground Chief executive Christian Sewing [...]
