From Costa and Coutts to Bud Light, business can’t keep out of our politics August 10, 2023 Business can't hide from politics anymore: younger customers and employees care about social issues. Companies, from Coutts to Costa, need to learn how to strike a balance, writes Ryan Shorthouse
FTSE 100 close: London markets rise despite Chinese deflation August 9, 2023 London’s markets closed higher on Wednesday as a toning down of Italy’s windfall tax on banks calmed investors despite more negative news from China. The FTSE 100 closed 0.80 per cent higher at 7,587.30 while the midcap FTSE 250, which is more aligned with the health of the domestic economy, ended 0.51 per cent higher [...]
Treasury Minister says businesses have woke ‘checklist’ – and tells them to stay out of politics August 7, 2023 A SENIOR Treasury minister has said he is “uncomfortable” with businesses “appropriating the views of their customers to make a political point” in a broadside against corporate woke culture. John Glen told the think-tank Bright Blue’s Centre Write magazine that “the mainstream majority of this country want businesses to provide value for money and quality [...]
City regulator responds to Hunt’s de-banking letter and will report back by September August 4, 2023 The City regulator will outline the scale of the so-called ‘de-banking’ scandal next month, in response to a letter from the Chancellor last night. Writing to Jeremy Hunt, the Financial Conduct Authority acknowledged his “request of areas to cover” in an investigation into the row, and that it was “in line with our plans”. The [...]
De-banking a threat to free speech, Hunt says as he asks FCA to investigate August 3, 2023 Chancellor Jeremy Hunt has asked the City watchdog to look into the extent of de-banking, as he said the practice poses a “threat” to free speech. It comes as banks face widespread reforms over account closures, after the Nigel Farage row that last week led to the resignation of the top bosses at Natwest and [...]
Monzo staff comms reveal anti-Tory messages as de-banking scandal grows August 3, 2023 Monzo staff made multiple disparaging remarks about the Conservative party, according to reported internal company messages, as a growing row about lenders closing individuals bank accounts engulfs the banking sector. The internal communications, reported by The Telegraph, show staff describing Tories as “evil”, and called for Conservative MP Jacob Rees-Mogg to “do the human race [...]
Natwest learnt a hard lesson in leaving the on-camera rows to the politicians August 3, 2023 Natwest could have won in court against Nigel Farage, but in a media war, they were doomed.
Natwest forced to pay £90,000 after sacking exec days after cancer surgery August 2, 2023 A former Natwest executive was awarded £90,000 yesterday after she brought a case against her old employer for dismissing her days after she underwent surgery for cancer. Adeline Willis, a senior risk and compliance officer, was let go by Natwest in April 2020, eight months after a bowel cancer diagnosis and just days after she [...]
Climate investors will flock to the EU if we keep dulling our green ambitions August 2, 2023 As Rishi Sunak quietly dampens green policies, Britain's business community will lose faith in our tepid climate ambitions and flee to other countries, writes Ted Christie-Miller.
HSBC launches $2bn share buyback after rising rates helps bank beat expectations August 1, 2023 HSBC launched a new $2bn (£1.56bn) share buyback programme after comfortably beating expectations in the second quarter. In the three months to June, pretax profit hit $8.8bn (£6.86bn) – over $4bn higher than last year and surpassing the $8bn predicted by analysts. The strong performance reflected the impact of rising interest rates around the world [...]