Is the future of banking online only? NatWest and Lloyds to axe 81 branches, taking this year’s total to 213. Here’s a list of closures: March 31, 2023 Two of the UK’s biggest banking groups have announced plans to make big cuts to their branch networks this year, cutting more than 80 sites from around the country. Lloyds Group and NatWest Group have said that the sites in England, Scotland, Wales and the Isle of Man will close between July and November this [...]
Wise: Banks will face death by a thousand fintechs if they don’t collaborate with new innovations September 9, 2021 The thought of “coming together” and “partnerships” have historically not conjured up images of banking, yet, today, the banking sector is very familiar with these terms. Banks face fierce competition competition from countless specialist digital fintechs, with the ability to adapt and innovate quickly to solve customers’ specific problems. Efficiency is at the core of [...]
Exclusive: Protium enjoys record hydrogen funding round to power green ambitions June 10, 2022 Protium has enjoyed the largest ever funding round in the UK for a hydrogen energy company, securing over £40m of investment.
Credit Suisse and Silicon Valley Bank chaos are symptoms of fragile banking system March 21, 2023 City folk around in 2007 must have been getting very twitchy over the last week. Some of the market moves were reminiscent of the early stages of the financial crisis once people clocked on to just how bad banks had messed up. Credit Suisse tumbled more than 30 per cent at one point. Its peers [...]
Government wins vote on National Insurance hike September 8, 2021 The Prime Minister has won a vote to raise National Insurance for workers and employers to fund NHS and social care costs. The government won the vote by 319 to 248 votes after Boris Johnson said the 1.25 percentage point increase would raise £12bn a year. Opposition MPs criticised the government for breaking a manifesto [...]
Barclays backs down over Post Office cash ban after backlash from MPs October 24, 2019 Barclays has rowed back on controversial plans to stop cash withdrawals from post offices, after it came under fire from an influential committee of MPs. Politicians were set to urge Barclays to reverse its decision in a session of the Business, Energy and Industrial Strategy (Beis) Committee tomorrow, threatening to grill the lender’s bosses in [...]
Exclusive: The WhatsApp scandal in banking and its place in the City January 15, 2023 The unprecedented fine from the SEC, exacted on 16 Wall Street banking giants in 2022, caused ripples on both sides of the pond last year. The collective $1.8bn in punishments doled out to a group consisting of names such as Barclays, Citigroup, Goldman Sachs, and Morgan Stanley, was executed as staff were found to have discussed deals [...]
Argo Blockchain prepares for Nasdaq listing August 20, 2021 Argo blockchain, the only London listed crypto mining company, is planning to sell shares on the US-based Nasdaq exchange. In a filing made to the US Securities and Exchange Commission, the company today confirmed its intention to list American Depositary Shares (ADS) on the Nasdaq exchange. According to the filing, Jeffries and Barclays will be [...]
Binance unveils global advisory board, chaired by former US Senator September 22, 2022 Binance has created a new global advisory board (GAB), comprised of experts in public policy, finance, economics, and corporate governance.
“Project Yeti”: Inside the scramble to save Silicon Valley Bank UK March 13, 2023 “It’s going down to the wire.” That was the view of Coadec CEO Dom Hallas at 11pm on Sunday evening after hours of meetings had failed to produce a deal on the future of Silicon Valley Bank – with the tech industry warning it would be an existential threat to thousands of firms across the [...]