The battle for London’s business: Behind the scenes, European cities are on a charm offensive to attract City jobs October 24, 2018 Behind the scenes, European cities are on a charm offensive to attract City jobs, finds Jasper Jolly WITH Brexit negotiations reaching fever pitch, all eyes are fixed on the politicians wrangling over the UK’s new place in the world. But behind the scenes another battle is going on, with well-funded campaigns vying to attract business [...]
Investment Association and KPMG team up to warn asset managers on threats of cyber breaches May 1, 2018 The Investment Association is teaming up with big four auditor KPMG to launch a report into cyber resilience for asset management as it launches a key conference in the City today. The trade body for asset managers will bring together law enforcement experts and government agencies to launch the joint report, titled “Building Cyber Resilience [...]
Regulator left Co-operative Bank ‘defenceless’ by regulator in Britannia merger, long-awaited report finds March 27, 2019 The Co-operative Bank was left “relatively defenceless” by the City watchdog in its merger with Britannia, a report into the bank’s near-collapse in 2013 has found. An independent review into the now-defunct Financial Services Authority’s (FSA) supervision of the bank in the five years leading up to the crisis has finally been published today. Read [...]
Confidence bounces back at the start of the year among UK citizens and businesses January 31, 2018 British consumers and businesses looked past inflation pressures on their pockets to start the year with a surprise increase in confidence, according to surveys to be published today. The long-running GfK measure of consumer confidence rose markedly from a negative reading of 13 – its lowest point in four years – in December to hit [...]
Lloyds Bank pre-tax profits more than doubled in 2016 as PPI charges were slashed February 22, 2017 Lloyds Banking Group reported today that its statutory pre-tax profits for the year had shot up, as conduct-related charges for the year (ie. PPI costs) were more than halved. The figures The bank revealed statutory profits before tax of £4.2bn, up 158 per cent on £1.6bn the year before – although analysts had predicted the figure [...]
Lloyds Banking Group has set aside an extra £350m to cover payment protection insurance (PPI) claims March 10, 2017 Lloyds Banking Group has set aside an extra £350m to cover payment protection insurance (PPI) claims, the lender announced this afternoon. The bank said the additional provision has been made because the Financial Conduct Authority (FCA) released a revised PPI policy statement on 2 March. The City watchdog announced a new deadline date for PPI complaints last [...]
Food for thought: How Tastecard is helping the restaurant sector November 25, 2019 The restaurant sector is in a crisis. A combination of rising rents, food prices and wage costs, plus a decline in consumer spending, is causing more businesses to close. Research published in September exposed the scale of the problem. According to accountancy firm UHY Hacker Young, the number of restaurants closing in the year to [...]
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, [...]
RBS GRG scandal: The baggage that could drag down Andrew Bailey’s quest to lead the Bank of England June 2, 2019 This summer, the Bank of England is expected to announce a successor to Mark Carney as governor. Among the runners in the contested race is Andrew Bailey, the financial watchdog chief who stands a solid chance of taking Carney's crown. While the boss of the Financial Conduct Authority (FCA) certainly has the credentials for the [...]
Gender pay gap: Royal Bank of Scotland Group (RBS) pays women 37 per cent less than men February 23, 2018 Royal Bank of Scotland Group may have announced its first annual profit in a decade this morning, but it wasn’t all good news for the state-backed lender. RBS said it pays women about 37 per cent less than men on average, largely due to men holding more senior roles. The bank announced that women held [...]