Now banks have pulled their Google ad spend as Royal Bank of Scotland, HSBC and Lloyds pile on pressure March 20, 2017 Google is facing growing pressure over claims it's profiting from hate speech as some of Britain's biggest banks are the latest to pull their ads from YouTube. Royal Bank of Scotland, HSBC and Lloyds have suspended their advertising with the tech giant following an investigation which revealed household brand names were appearing next to offensive and extremist [...]
Barclays Qatari loan fraud charges thrown out by Crown Court May 22, 2018 Barclays celebrated a significant victory over the Serious Fraud Office (SFO) yesterday when the Crown Court dismissed charges surrounding the bank’s huge capital raising during the financial crisis a decade ago. The SFO alleged that a $3bn (£2.2bn) loan Barclays gave Qatari investors led to the Qatari acquisition of shares in a Barclays fundraising, an [...]
Banks leave £13bn in cheap money from Term Funding Scheme on the table March 1, 2018 The final tally of cheap Bank of England (BoE) loans taken on by Britain’s banks is now in, with lenders leaving almost £13bn on the table. Banks borrowed £127bn under the Term Funding Scheme (TFS), which closed yesterday, according to Bank of England data. The scheme delivered a stream of almost interest-free loans to banks [...]
Nicky Morgan demands answers over TSB meltdown April 24, 2018 The chair of the influential Treasury Select Committee is demanding answers from TSB over its IT “meltdown”, which has blocked consumers from accessing their accounts for several days. Nicky Morgan has written to TSB’s chief executive Paul Pester demanding to know what went wrong after a planned upgrade blocked some people from accounts for more [...]
Goldman Sachs hires new head of digital assets to explore cryptocurrencies such as bitcoin (BTC) April 23, 2018 Goldman Sachs has hired a new head of digital assets as the investment bank considers how to answer burgeoning client demand for cryptocurrencies such as bitcoin. Justin Schmidt will be vice president and head of digital asset markets based at the Wall Street giant, the bank confirmed today. He was formerly senior vice president at [...]
RSA chief executive Stephen Hester pockets nearly £5m after strong 2017 for the insurer March 25, 2018 The chief executive of RSA Stephen Hester will take home nearly £5m after a strong 2017 for the insurer which saw it achieve a record underwriting profit of £394m. On top of his salary of £987,000, the former Royal Bank of Scotland (RBS) boss received a £1m bonus, £2.6m as part of a long-term incentive [...]
TSB bosses face MPs over bank’s IT fiasco as customers are still reporting internet banking troubles May 2, 2018 TSB bosses will appear before MPs on the influential Treasury Select Committee today for a grilling over the IT chaos that has left customers unable to access online banking and the mobile app properly for over a week. Customers are still reporting issues with online banking, and have been struggling to get into their accounts [...]
Lloyds Bank leads the London financial sector in British LGBT Awards May 15, 2016 Bravo to bankers at Lloyds – the firm has been crowned the top employer for promoting diversity in this year's LGBT Awards. Lloyds Banking Group, which has a professional LGBT Network of over 3000, was named LGBT Network Group of the Year. The bank saw off stiff competition from the likes of Tesco and PwC. Dubbed [...]
TSB online banking woes continue into second week as customers complain about account access troubles April 30, 2018 TSB’s online banking troubles persisted into a second week this morning, with customers complaining of trouble accessing their accounts and getting into the mobile app. Yesterday, its online banking services were still only running at half capacity, a week after problems first emerged with a migration of computer systems. In its most recent update online, [...]
Goldman Sachs profits smash analyst expectations thanks to first-quarter volatility April 17, 2018 Goldman Sachs today reported profits far above analyst expectations as revenues came in more than $1bn higher than predicted on the back of equity market volatility. The figures The investment bank reported net revenues of $10.04bn (£7bn) and net earnings of $2.83bn for the first quarter ended 31 March. Earnings per common share were $6.95, [...]