TSB faces fresh data crisis as MP claims bank may have broken GDPR laws June 1, 2018 Bank TSB may have broken new General Data Protection Regulations (GDPR) laws after a botched mail out to customers, an MP said today. John Mann, who is part of the parliamentary committee investigating the recent TSB IT meltdown said that the bank could be facing a backlash from the information commissioner after customers were sent [...]
Goldman Sachs beats Wall Street estimates despite profit drop July 16, 2019 Goldman Sachs outperformed expectations on Wall Street this afternoon as a double-digit surge in investment and lending boosted the banking giant, despite a fall in quarterly profits. Shares in the New York-based firm edged up 1.1 per cent pre-trading after it reported earnings per share of $5.81, falling from $5.98 a year earlier but beating [...]
Challenger banks struggling to compete with big five banks on cash deposits, study finds May 30, 2019 Challenger banks are struggling to break the stranglehold of the big five banks on the UK's £1.3 trillion cash deposit market, despite often paying better interest rates. The UK's big five banks – Barclays, Lloyds, HSBC, Santander and the Royal Bank of Scotland – hold £827bn of the UK's household deposits, a market share of [...]
HIKE: The shadow MPC says it is time for the Bank of England to raise interest rates | City A.M. August 1, 2018 The Bank of England is widely expected to hike interest rates tomorrow after delaying a move in May in light of a modest growth rebound and a tight labour market. City A.M.’s shadow monetary policy committee (MPC) believes the time is right on balance, although with a split between economists which is likely to be [...]
Budget 2021: As it happened March 3, 2021 Live updates and links to all our coverage, reactions and analyses as the Chancellor of the Exchequer delivers the government’s Budget later today – at 12.30pm. Please also visit our dedicated Budget 2021 Hub. Wrap-up of the main Budget announcements Here’s a wrap-up of the main announcements made by the chancellor in his spring Budget: [...]
Banco de Sabadell S.A. fined €1.6m by the European Central Bank over unauthorised capital buyback May 8, 2018 The Spanish banking group Banco de Sabadell S.A. has been fined €1.6m (£1.4m) by The European Central Bank (ECB) for buying back capital without permission, according to a ECB press release. In the period 1 January 2014 to 7 November 2017, Banco de Sabadell bought back some of its capital without the permission of the [...]
MPs tell government to intervene if banks don’t do enough to halt branch closures May 13, 2019 The government or the financial watchdog should be ready to intervene if banks do not do enough to halt the closure of local branches, MPs have suggested. In its report into financial inclusion, the influential Treasury Select Committee (TSC) said the closure of local branches were more likely to affect older and more vulnerable customers and [...]
City Moves for 9 September – Who’s switching jobs at SRIL, Morningstar and Capra Global Partners? September 9, 2019 Today’s City Moves includes SRIL, Morningstar and Capra Global Partners. SRIL Warren Downey has joined SRIL, the specialist insurance intermediary group that owns Miles Smith and the Underwriting Exchange, as chief executive. Warren joins from Jardine Lloyd Thompson where he spent the past 28 years, most recently as the chief executive of its global private [...]
This is how City analysts reacted to Lloyds Bank’s results February 22, 2017 Lloyds Banking Group announced this morning that pre-tax profits had more than doubled last year, sending its shares up 3.6 per cent in early trading. The lender reported statutory profit before tax had gone up 158 per cent to £4.2bn in 2016, from £1.6bn in 2015. While this was slightly below analysts' expectations of a [...]
Finalist November 9, 2022 Start-up of the Year supported by World Mobile Swash Swash is reinventing data ownership through new incentivisation streams and a collaborativedevelopment framework, governed by the ethos of Web 3. It enables individuals, developers, and businesses to cultivate new realities of data ownership and value creation. It is the largest data unionin the market with over [...]