Banks ‘use fraud warnings to avoid reimbursing victims’ January 24, 2020 Banks are not reimbursing customers who have been scammed because they have been “careless”, despite some signing a voluntary code intended to protect fraud victims, it is alleged. The voluntary industry code introduced in May 2019 was designed to help customers recover life-changing sums lost to fraudsters. However, some of Britain’s biggest banks are refusing to [...]
Kier share price slumps as lenders ‘seek to offload debt’ November 4, 2019 Kier’s share price slumped seven per cent today following a report alleging lenders are trying to pass on its debt to hedge funds. Kier fell 8.4 per cent to 107.6p in early trading, with HSBC supposedly marketing the firm’s debt for as little as 70p in the pound. Read more: Kier lenders ‘try to offload [...]
Martin Gilbert: Coronavirus ‘multiple times worse’ than Black Monday for City April 29, 2020 Veteran asset manager Martin Gilbert has warned the economic fallout from the coronavirus pandemic will be “the most dramatic we’ve seen since the 1930s” as he warned of “a long, slow recovery” for certain sectors of the economy. Speaking to The City View podcast today, Gilbert said that though Black Monday in 1987 was a [...]
Hong Kong stock exchange drafts in bankers to aid charm offensive for LSE bid September 22, 2019 Banking giants HSBC and UBS have been drafted in by the Hong Kong stock exchange as it ramps up its shareholder campaign to push through a takeover of its London rival. The two corporate groups are trying to win round shareholders of the London Stock Exchange (LSE) after making a £32bn offer for the group, [...]
BoE: UK lenders can withstand disastrous recession December 16, 2019 The UK’s biggest lenders are strong enough to withstand a financial earthquake stronger than the one that rocked the City in 2008, the Bank of England’s annual stress test has found. Britain’s seven biggest banks could keep lending even if UK national income slumped 4.7 per cent, unemployment surged to 9.2 per cent, and world [...]
Lawyer who played key role in Brexit case set for disciplinary tribunal over dishonesty claims August 5, 2019 The vice-president of the Law Society is set to face a disciplinary tribunal later this month over claims of dishonesty. David Greene, who acted for a claimant on the Article 50 litigation in 2016, is set to appear before the Solicitors Disciplinary Tribunal (SDT) on 13 August. The claim centres around £7,000 in unpaid fees [...]
Banking on the fees: Deal disappointments top off downward year for payouts November 21, 2019 Bankers have been left with a sour taste in their mouths after two of the year’s blockbuster listings look set to deliver a disappointing round of payouts. Hopes of a fee bonanza from Saudi Aramco’s flotation have fallen flat after it emerged that some of Wall Street’s biggest banks have been sidelined in the process, [...]
Coronavirus hits hospitality: The industry needs your help April 19, 2020 Yes, you know the drill: The best thing you can do right now is to stay on the sofa, watching Netflix. But that’s all going to change. Radically. In a few weeks’ time, when the experts and our government pronounce it safe, one of the best things you can do to support an entire industry [...]
Tesco investigates technical issues affecting Monzo card payments November 1, 2019 Supermarket giant Tesco is investigating a technical issue affecting customers with Monzo debit cards after cardholders complained they were being charged twice for transactions. Monzo customers have complained on Twitter about issues using their cards in Tesco, prompting the supermarket chain to put up signs at some of its stores saying it could not accept [...]
Kier’s COO leaves with immediate effect November 15, 2019 Kier’s chief operating officer has left the business with immediate effect as the struggling outsourcer rang the changes at the top amid reported interest from private equity. Claudio Veritiero, who was appointed COO only in August of 2018, has quit the company today. Read more: Private equity firm circles Kier as it looks to raise [...]