These are the six new types of banking jobs that HSBC reckons will be in high demand in the future July 5, 2018 A new report has revealed six new banking jobs of the future expected as the industry focuses on digital evolution, with a view to how that will impact on people in the workforce. The study commissioned by HSBC analyses the challenges and opportunities on the horizon for the banking industry and has used that to [...]
Chancellor shakes up coronavirus loan scheme after criticism of banks April 2, 2020 Chancellor Rishi Sunak said tonight that he is extending a coronavirus loan scheme for small businesses and introducing a new loan scheme for businesses with revenue up to £500m. The Treasury also said it would ban lenders from requesting personal guarantees for loans under £250,000. And Sunak pledged “operational changes” to speed up lending approvals. [...]
Traders ready themselves for election all-nighter December 12, 2019 Armed with energy drinks, cigarettes (or vapes) and coffee, London’s financial traders are gearing up for a general election all-nighter. City workers will be glued to their terminals for the next 24 hours, preparing themselves for any swings in global financial markets as Britain’s voters head to the polling booths. Read more: Moody’s downgrades outlook [...]
Climate change: Barclays shareholders call on bank to stop financing fossil fuel firms January 8, 2020 A group of Barclays shareholders have taken formal action against the bank, demanding it stops financing fossil fuel companies that are not aligned with the Paris Agreement’s climate change goals. A group of 11 institutional investors managing over £130bn of assets, coupled with over 100 individual investors have launched the shareholder resolution – thought to [...]
Morgan Stanley fined €20m as French regulator accuses it of sovereign bond price manipulation December 10, 2019 Morgan Stanley has been issued a €20m (£16.8m) fine by French regulators after its London desk faced accusations of using “pump and dump” tactics to manipulate sovereign bond prices. France’s stock market regulator, the Autorite des Marches Financiers (AMF), said the bank manipulated prices on 14 French government bonds and eight Belgian bonds in June [...]
FOMC decision: Four things to expect from the Federal Reserve’s June meeting June 10, 2020 Policymakers at the US Federal Reserve are set to publish their first set of economic projections of 2020 later today when the Open Market Committee (FOMC) makes its June decision. The Federal Reserve is widely expected to leave interest rates near zero at its FOMC June decision. But all eyes are on the meeting for [...]
Standard Chartered slashes CEO and CFO pay in wake of revolt November 8, 2019 Standard Chartered said today that it has slashed the pension payouts to its two top bosses, bowing to shareholder demands in the wake of a major investor rebellion. Chief executive Bill Winters and chief financial officer Andy Halford will see their retirement allowance dropped from 20 per cent of their annual salary to 10 per [...]
City Moves for 4 July – Who’s switching jobs? July 4, 2019 Today’s City Moves includes Taylor Wimpey, Relendex and Queensberry. Taylor Wimpey Taylor Wimpey has announced that it has appointed Irene Dorner as its new non-executive chair of the board. Irene will join as chair-designate and as an independent non executive director on 1 December. She will work closely with Kevin Beeston during a handover period [...]
UK coronavirus: Which retailers are open under lockdown rules? March 25, 2020 The government announced a UK coronavirus lockdown on Monday evening, putting limits on work, socialising and going outside. Addressing the nation, the prime minister said “I must give the British people a very simple instruction – you must stay at home”. Boris Johnson said police will break up public gatherings of more than two people, [...]
First Travelex UK customer-facing systems restored after cyber attack January 17, 2020 The chief executive of Travelex has spoken out for the first time following a cyber attack two weeks ago that caused a global blackout in the foreign exchange provider’s online services. In a scripted video uploaded to a backup Travelex website, Tony D’Souza said the IT system used by staff was now working again. D’Souza [...]