Britain’s big banks decline to follow Lloyds lead on bitcoin credit card bans February 5, 2018 Lloyds Banking Group has banned customers from buying bitcoin and other cryptocurrencies using credit cards, but other big British banks say they currently have no plans to clamp down on the risky assets. A wave of lenders around the world have placed restrictions on customers using debt to buy digital currencies, including JP Morgan Chase, [...]
UK venture capital investment slumps in Q1, though London fintech is still on top April 11, 2018 Venture capital (VC) investment has slowed considerably in the first quarter of 2018, according to a new study from advisory firm KPMG. VC investment in the first three months of the year rose just above $1bn (£705m), well short of the $2.8bn invested in the fourth quarter of 2017. The dip follows a blockbuster 2017, [...]
Green bonds issuances hit record high in first quarter 2018 April 23, 2018 Global green bond issuances hit a record of just under $30bn (£21.42bn) in the first quarter (Q1) of 2018. Analysis by law firm Linklaters has shown that Q1 of 2018 saw $29.64bn worth of green bonds issued globally, outstripping the previous high of $29.5bn in Q3 2017. The value of issuances has increased by 9.4 [...]
Queen’s Birthday Honours: the full 2021 list June 12, 2021 Below the full list of names for this year ORDER OF THE BRITISH EMPIRE Knights Grand Cross of the Order of the British Empire (GBE) The Rt. Hon. Frederick Richard Penn Curzon, The Earl Howe. For political and parliamentary service. (Amersham, Buckinghamshire) ORDER OF THE BATH Knights Commander of the Order of the Bath (KCB) [...]
Bank of England must hold interest rates and wait for signs of a rebound says shadow MPC June 20, 2018 City economists are all but certain the Bank of England will not announce a rise in interest rates tomorrow, with City A.M.’s shadow monetary policy committee (MPC) voting unanimously to hold fire. The Bank’s top economists have made it clear that they see rising upward pressures on wages, a key component of domestically generated inflation, [...]
Citi picks London for latest fintech innovation hub February 11, 2018 Citigroup has selected London’s tech hub as the next site in its innovation lab network, creating new jobs on the fringes of the City. Headquartered in one of WeWork’s shared workspaces in Moorgate, the London innovation lab will employ 75 technologists from different backgrounds. It is the latest in a string of technology hubs set [...]
Bank of America reports record first-quarter profits of $6.9bn April 16, 2018 Bank of America today reported record earnings which beat analyst expectations thanks to higher interest rates and the boost from tax cuts. The figures Pre-tax income rose by 15 per cent year-on-year to $8.4bn (£5.8bn), with net income rising 30 per cent to a record $6.9bn, the bank said. Earnings per share rose by 38 [...]
Provident Financial share price falls after completing a £331m rights issue April 10, 2018 Doorstep lender Provident Financial has completed a £331m cash call from investors, it announced this morning. A deadline for rights issue acceptances passed yesterday at 11am with 96.3 per cent of shareholders backing the capital raise. The success of the rights issue will come as little surprise to many traders as almost three-quarters (73.4 per [...]
JP Morgan Chase to fork out $55m to settle mortgage discrimination claims January 18, 2017 JP Morgan Chase has agreed to pay $55m (£44.9m) to put to bed claims that it charged borrowers from minority backgrounds more for mortgages. The US Justice Department alleged the banking giant willfully went against the US Fair Housing Act and the Equal Credit Opportunity Act between 2006 and 2009, and showed "reckless disregard" for the rights of [...]
Goldman Sachs, JP Morgan and Morgan Stanley bosses rally behind staff after Trump travel ban January 30, 2017 The bosses of three US banking giants have moved to reassure staff after President Donald Trump introduced a travel ban over seven majority Muslim countries. In a voicemail sent to staff yesterday evening, Goldman Sachs chief executive Lloyd Blankfein hit back at the policy, saying: "This is not a policy we support, and I would note that it has [...]