Open banking enters ‘new phase’ after CMA rules six major banks fulfil requirements January 12, 2023 Open banking has entered a “new phase” after the Competition and Markets Authority (CMA) determined that the six largest banks in the UK have implemented the requirements of the open banking roadmap. The open banking trustee advised the CMA on Monday that Barclays, HSBC, Lloyds, Nationwide, NatWest and Santander had implemented the remaining roadmap items. [...]
Banks must tell savers if better deals are available under Consumer Duty, FCA says July 18, 2023 The Financial Conduct Authority (FCA) has warned banks that they must inform savers if better deals are available once the new Consumer Duty comes into force at the end of the month. In a letter to the Treasury Select Committee, the FCA said it is “more critical than ever that borrowers and savers are offered [...]
Metro Bank has learned ‘the hard way’ about costly branches, analysts say November 30, 2023 Metro Bank today announced a shift in strategy as it prepares to lay off 20 per cent of staff, considers cutting opening times and tries to simplify its business model to become more cost-efficient.
Coming or going? Aviva the latest to cut office space as rival bosses say ‘remote working can’t last’ March 4, 2021 Aviva the latest to cut office space as rival bosses say 'remote working can't last'
City Moves: Who is switching jobs in the Square Mile this week? January 13, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. After a rocky year for business, City firms are continuing to adapt to the challenges of three national lockdowns and post-Brexit bureaucracy to keep things moving across the Square Mile. This week, Lloyd’s [...]
Lloyds, Halifax and Bank of Scotland customers locked out of accounts January 1, 2020 Some customers of Lloyds, Halifax and Bank of Scotland were left unable to access their accounts on New Year’s day after Lloyds Bank suffered an outage. The issue left many customers exasperated, coming on New Year’s Day, a public holiday when bank branches are closed. Across its platforms, Lloyds group has around nine million online [...]
Close Brothers shares collapse after FCA auto finance probe forces it to scrap dividend February 15, 2024 Shares in Close Brothers have collapsed after it scrapped dividend payouts for the current financial year and put 2025 rewards under review, with the group bracing for potential compensation costs from a motor finance review by the City watchdog. The news sent the group’s shares down 28 per cent in London on Thursday morning. Close [...]
Starling Bank bets on tech to boost growth as much-anticipated IPO looms December 4, 2023 Starling Bank hopes to make technology an "increasingly significant part" of its business model as it ramps up international expansion ahead of an IPO, the chief of the group's software-as-a-service (SaaS) business has told City A.M.
The Effect at the National Theatre: A pulse-quickening exploration of love in the age of medication August 16, 2023 Rarely does a play tackle quite so succinctly and powerfully our inability to reconcile the mass of grey jelly inside our heads with the impossibly complex tangle of desires and emotions that make us human. Jamie Lloyd, one of the finest directors working today, brings Lucy Prebble’s play kicking and screaming – often literally – [...]
British banks set to hand out hundreds of millions in staff bonuses February 6, 2021 Britain’s largest banks are finalising plans to hand out hundreds of millions of pounds in staff bonuses next week, at the same time loan losses are expected to catapult during the pandemic. Taxpayer-backed lender Natwest Group has informed the Treasury that it is poised to distribute more than £200m in staff bonuses for 2020. The [...]