Scandal-hit NMC Health appoints heavyweight advisers for talks with lenders March 2, 2020 Scandal-ridden healthcare company NMC Health said today it had appointed a string of heavyweight advisers for talks with its lenders. NMC said it had hired investment bank Moelis & Co to act as an independent financial adviser, Big Four firm PwC to advise on operational issues and Magic Circle law firm Allen & Overy as [...]
Revolut launches open banking for retail and business customers February 11, 2020 Digital bank Revolut today announced the launch of open banking for all UK retail and business customers as it ramps up its challenge against money management rivals. The new feature allows UK customers to connect their external bank accounts to Revolut’s platform, allowing them to view all their balances in one app. Open banking was [...]
A regulated journey in the cryptoasset world September 15, 2020 Throughout Archax’s journey to create a regulated, global, digitally-native exchange, we have been constantly monitoring the evolution of regulators and regulations throughout the world of cryptoassets – and when we say ‘world’ we literally mean it, as it is a global evolution that is taking place. Any business seeking to operate in this new, exciting, [...]
City watchdog demands banks explain similar overdraft pricing January 28, 2020 The City watchdog has demanded that high street lenders explain why they have aligned their new overdraft rates at around 40 per cent following a rule change. The Financial Conduct Authority (FCA) will from April ban banks from charging more for unarranged overdrafts, in response to complaints that such fees were regularly 10 times as [...]
Lloyds loses mortgage market share as HSBC and RBS rise July 18, 2018 Lloyds lost market share in UK mortgages last year as Royal Bank of Scotland (RBS), HSBC and a host of challengers gained, according to new data published today. Competitors to Lloyds bit off almost one per cent of their market share, which fell from 22.1 per cent to 21.2 per cent of mortgage balances outstanding [...]
Crypto AM shines its Spotlight on AuBit — network-enhanced finance for everyone September 29, 2020 AuBit is in the final days of a $2.75m private token pre-sale which is expected to close out oversubscribed. Alongside the private token sale, AuBit has also raised more than $1m in private funding of AuBit One digital equity. Today’s spotlight takes a look at what AuBit is, who’s behind it, and how it plans [...]
Tory MPs blast Huawei over British media blitz June 8, 2020 Tory MPs have blasted Huawei’s UK media blitz as a “ridiculous” attempt to gain British sympathy, amid increasing pressure for Boris Johnson to cut ties with the Chinese technology firm. In an open letter to the British public Huawei today emphasised its commitment to the UK over the past two decades and its credibility as [...]
Foreign Office warns against ‘all but essential travel’ to China January 28, 2020 The Foreign Office has warned against “all but essential travel” amid the coronavirus outbreak which has spread across the globe. The death toll rose to over 100 today, with the number of confirmed cases doubling to nearly 5,000. Foreign secretary Dominic Raab said: “Due to the increasing travel restrictions and the public health situation, we [...]
More than 100,000 UK firms apply for ‘bounce back loans’ on first day May 5, 2020 UK banks have reported huge demand for “bounce back loans” on the first day of the new coronavirus lending scheme yesterday, with more than 100,000 of Britain’s smallest businesses applying by this afternoon. The bounce back loan scheme is the latest coronavirus support package for UK firms. Launched yesterday, it offers the UK’s smallest companies [...]
HSBC’s share price falls as bank reports surprise fall in profits May 4, 2018 HSBC’s share price opened down this morning after the bank reported a surprise four per cent fall in profits, despite a growth in revenues, citing a rise in expenses. Shares were down 1.4 per cent on the open and continued to tumble to 2.3 per cent, becoming the biggest faller on the FTSE by mid-morning. [...]