Serious Fraud Office chief steps back from Barclays case over conflicts October 28, 2018 The new director of the Serious Fraud Office (SFO) Lisa Osofsky has recused herself from the prosecution of four former Barclays bankers over potential conflicts of interest. The fraud office said she had delegated responsibility for the case to the SFO’s general counsel Alun Milford to “avoid any potential conflict” thrown up by previous private [...]
Gordon Brown: World ‘sleepwalking’ to another financial crisis September 13, 2018 The world is “sleepwalking” into another financial crisis, former Prime Minister Gordon Brown said today, but said it lacks the international will to quickly recover. Read more: A decade on, hubris is the lesson to learn from the Lehman tragedy Brown issued the warning in the week marking the 10th anniversary of the collapse of [...]
Gordon Brown: World ‘sleepwalking’ to another financial crisis September 13, 2018 The world is “sleepwalking” into another financial crisis, former Prime Minister Gordon Brown said today, but said it lacks the international will to quickly recover. Read more: A decade on, hubris is the lesson to learn from the Lehman tragedy Brown issued the warning in the week marking the 10th anniversary of the collapse of [...]
Coronavirus live: OECD warning weighs down FTSE 100 recovery March 2, 2020 The OECD’s warning that the coronavirus outbreak could halve global growth in 2020 weighed down the FTSE 100 today, sending it back into the red before recovering marginally. Traders had initially sent London’s blue-chip index up 2.7 per cent this morning on the back of central banks saying they were ready to intervene to protest [...]
Lloyds loses mortgage market share as HSBC and RBS rise July 18, 2018 Lloyds lost market share in UK mortgages last year as Royal Bank of Scotland (RBS), HSBC and a host of challengers gained, according to new data published today. Competitors to Lloyds bit off almost one per cent of their market share, which fell from 22.1 per cent to 21.2 per cent of mortgage balances outstanding [...]
Mark Kleinman’s big predictions for the Square Mile in 2019 January 11, 2019 Sir Martin Sorrell’s WPP exit, Unilever’s HQ U-turn, Melrose’s swoop for GKN: 2018 was a year full of surprises in the City. And while forecasting might be a fool’s errand, here are 10 predictions for the year ahead. •Theresa May will decisively lose next week’s “meaningful vote” on Brexit: that’s not a punt that will [...]
RBS is closing 162 branches resulting in 800 job losses as more customers opt for mobile banking May 1, 2018 The Royal Bank of Scotland (RBS) is closing 162 branches and cutting nearly 800 jobs after a review of its network in England and Wales, noting that an increasing number of customers were using branches less often and using mobile banking. It said the branch closures will result in 792 roles being made redundant and [...]
FTSE 100 drops below 7,300 points for first time in five months as pound grows September 7, 2018 The FTSE 100 has dropped below 7,300 points for the first time in nearly five months as the pound continued to grow and global uncertainty caused investors to halt activity. The index dropped to a low of 7,227 points this afternoon before gaining slightly towards 7,270. Markets across Europe have all fallen today but the [...]
Royal Bank of Scotland faces swaps mis-selling claim from Harley Street doctor in High Court June 29, 2017 A Harley Street doctor has emerged as one of the latest small business owners seeking to take Royal Bank of Scotland to court. Dr Robin Lawrence, one of the owners of 96 Harley Street, is understood to be suing the bank for at least £1m over interest rate swaps mis-selling. The psychiatrist claimed that RBS [...]
Theresa May launches consultation into forcing firms to report ethnicity pay figures October 11, 2018 KPMG, WPP and the Royal Bank of Scotland (RBS) are among a number of businesses to have signed up to a new charter by Theresa May that aims to improve the recruitment and progression of ethnic minority employees. Alongside the charter the Prime Minister has also launched a consultation into mandatory ethnicity pay reporting, following last [...]