Open Banking: Meet 10 startups that just won cash for innovative ideas December 13, 2017 Nearly a dozen startups have been chosen for a cash prize totalling £5m for their innovative ideas for making banking easier for small businesses. A firm that is a current account for freelancers that can help them manage tax and expenses, called Coconut, and another, Funding options, a marketplace for financial products for small firms, [...]
Profit slump expected for HSBC this quarter November 6, 2016 HSBC is expected to report its profits have plunged when it releases its third quarter results in the early hours of tomorrow morning. Analysts have predicted the banking giant, which is listed in Hong Kong, New York and Paris as well as London, will announce statutory pre-tax profits of $2.4bn (£1.9bn), down 60 per cent compared with [...]
Barclays is working with startup Flux to make your receipts digital and paperless November 13, 2017 Barclays is the latest major bank to turn to a startup as we approach the era of Open Banking, when high street banks will have to work even harder to keep up with newer and more digital rivals. The bank is working with Flux, a UK fintech, for making receipts digital, initially in a trial [...]
Barclays is working with startup Flux to make your receipts digital and paperless November 13, 2017 Barclays is the latest major bank to turn to a startup as we approach the era of Open Banking, when high street banks will have to work even harder to keep up with newer and more digital rivals. The bank is working with Flux, a UK fintech, for making receipts digital, initially in a trial [...]
Royal Bank of Scotland teeters on edge of profit for first time in a decade as British big bank results season begins February 18, 2018 Investors will be on tenterhooks this week to see if Royal Bank of Scotland (RBS) has returned to profit for the first time after a decade in the cold, as Britain’s biggest banks report their full-year results. City analysts expect a net income loss of £984m, according to an average of estimates from S&P Global [...]
London on Saudi Aramco listing shortlist along with Hong Kong and New York say reports January 11, 2018 London has made it onto the shortlist for potential listing venues for Saudi Aramco, as the state-backed oil giant looks to list in late 2018, according to reports. New York and Hong Kong are also on the shortlist, with a dual- or even triple-listing on the cards, according to Reuters. Saudi Arabia’s Tadawul exchange will [...]
England’s Justin Rose wins third title in eight weeks with commanding triumph at Indonesian Masters December 17, 2017 England’s Justin Rose continued his hot streak by romping to a third title in eight weeks at the Indonesian Masters in Jakarta on Sunday. Rose finished on 29 under par to win by eight shots from Thai teenager Phachara Khongwatmai after shooting a round of 62 for the second time. The world No6 had earlier [...]
HSBC’s shares rise four per cent despite larger-than-expected profit slump after Brazil disposal November 7, 2016 HSBC's share price rose by more than four per cent this morning, despite a sharper-than-expected slump in profits in the third quarter – although stripping out currency fluctuations, things looked rather better… The figures Pre-tax profit at the British lender fell 86 per cent to $843m in the quarter ended 30 September, down from $6.1bn in [...]
JP Morgan’s entire fixed income trading will use fintech startup Mosaic’s data anaytics tool after graduating “In-Residence” programme October 23, 2017 Investment banking giant JP Morgan is tapping a UK fintech startup to help it delve into its treasure trove of trading data in a rare move for the firm. Mosaic’s smart data platform will be rolled out across the bank’s entire fixed income trading business following months of testing as part of its “In-Residence” fintech [...]
Chinese banks march up rankings of world’s most important banks as Citi and BNP Paribas drop November 21, 2017 Chinese banks have jumped up international regulators’ rankings of the banks which are most crucial to the global financial system as Citigroup and BNP Paribas fell down the list. Both Bank of China and China Construction Bank rose into the second “bucket” on a list of the global systemically important banks published today by the [...]