HSBC’s women are paid 60 per cent less than men March 15, 2018 HSBC’s female staff in the UK are paid 60 per cent less than men, according to gender pay gap data which reveal one of the biggest differences among the big banks who have reported so far. The 60 per cent mean pay gap for hourly pay increased from 59 per cent in 2017, although for [...]
Exclusive: Businesses call for bank-by-bank breakdown of coronavirus lending April 21, 2020 British businesses have called on industry body UK Finance to publish a bank-by-bank breakdown of lending through the coronavirus support scheme, as it emerges that Natwest has so far made roughly half of all loans through the programme. Data from Natwest today showed that as of Sunday evening the group (formerly called RBS) had approved [...]
HSBC appoints Royal Bank of Scotland’s Ewen Stevenson as its new finance boss June 25, 2018 HSBC has announced today that it has appointed Royal Bank of Scotland’s (RBS) chief finance officer Ewen Stevenson as its new finance director. Ferguson will replace Iain Mackay in the role who is retiring from the bank after 11 years. Read more: Outgoing RBS finance head could be in line for HSBC job Stevenson resigned [...]
Tottenham Hotspur refinance more than £600m of stadium debt to secure financial future September 20, 2019 Tottenham Hotspur have refinanced £637m of loans taken out to help build its new £1.2bn stadium. The club borrowed the lump sum from Goldman Sachs, Bank of America and HSBC to support the arena’s construction and were due to pay it back in full by April 2022. Read more: Olympiacos 2-2 Tottenham: Spurs stuck in [...]
HSBC to invest up to $17bn in expansion and tech as it swings to ‘growth mode’ June 11, 2018 HSBC will invest as much as $17bn (£12.7bn) in expanding its network and adopting new technology as it puts a period of restructuring behind it, its chief executive announced today. The UK's largest bank by assets will invest between $15bn and $17bn "primarily in growth and technology", chief executive John Flint said in an announcement. [...]
Q&A: How would Labour’s plan to delist companies work? November 20, 2019 John McDonnell shocked the City once again yesterday after unveiling his latest plans to shake up the world of finance. The shadow chancellor, who revealed plans for “rewriting the rules” of business, said that firms which failed to take “adequate steps” to deal with climate change would be delisted from the London Stock Exchange. But [...]
Buzzfeed and Gousto investors back London media AI startup October 22, 2019 A London artificial intelligence (AI) startup has today closed a $25m (£19.2m) funding round to help businesses better track their competition. Signal AI’s series C round was led by Redline Ventures, and supported by the venture arm of publishing giant Hearst. Other investors included Gousto backer MMC Ventures, and GMG Ventures which counts the owner [...]
Barclays and Santander to cut chief executive pension perks November 28, 2019 Barclays, Santander and Lloyds Banking Group have all slashed pension allowances for their bosses after an outcry from MPs and investors. Barclays chief executive Jes Staley is set to receive a cash lump sum of £396,000 instead of a pension this year, which is equivalent to 34 per cent of his salary. From next year, [...]
£2bn of ‘bounce back’ loans for SMEs approved in first 24 hours May 6, 2020 More than 69,000 so-called coronavirus bounce back loans were approved on the first day of them being made available via banks. The approvals equate to over £2bn in loans during the first 24 hours of the bounce back scheme’s launch on Monday, chancellor Rishi Sunak said today. The seven largest UK banks including HSBC, Barclays, [...]
Lloyds Banking Group boss to take pay cut after pension backlash November 27, 2019 Lloyds Banking Group is planning on cutting the pay of its boss by more than £220,000 following criticism of his pension package. Antonio Horta-Osorio was blasted by MPs in June for “greed” in relation to his £6.3m pay packet which included a pension contribution worth 46 per cent of his base salary – reduced to [...]