City suffers slowest broadband speeds in London, report finds January 22, 2019 Broadband speeds in the City are the lowest of any London borough, new research by consumer group Which has revealed. Average internet speeds in the Square Mile are just 9.9Mbps, lagging far behind other boroughs and below the government’s minimum speed of 10Mbps. Read more: City leads London full fibre rollout league table The report also [...]
Small businesses to launch claim against Clydesdale Bank ‘this side of Christmas’ December 7, 2017 Clydes Bank has come a step closer to facing legal action over its alleged mis-selling of business loans. RGL Management, which brings claims against banks on behalf of small firms, co-ordinated a meeting yesterday with companies who claim to be were victims of Clydesdale’s Tailored Business Loans (TLBs). Read more: Small businesses to bring legal [...]
Liberal Democrat leader Vince Cable uses parliamentary privilege to name Santander UK boss Nathan Bostock as “responsible” for RBS GRG’s strategy January 18, 2018 Former business secretary Vince Cable has used parliamentary privilege to allege that the current chief executive of Santander UK, Nathan Bostock, was “responsible” for the behaviour of the global restructuring group at Royal Bank of Scotland (RBS). The Liberal Democrat leader also said senior management at RBS knew or should have known about alleged unethical [...]
EU markets regulator ESMA finally releases long-delayed list of stocks affected by Mifid II dark pool volume cap March 7, 2018 The European markets regulator has finally released a long-delayed list of stocks which will be affected by the Mifid II cap on “dark pool” trading, covering the shares of some of the biggest household names across Europe. If more than four per cent of stocks are traded “in the dark” on any particular venue on [...]
General Election 2019: Boris Johnson urges UK to ‘let healing begin’ December 13, 2019 This was a live blog, thank you for following along Read more: UK stocks and sterling surge as Tories triumph at pollsRead more: Election live: Who were the big MP casualties?Read more: UK housebuilders rejoice as shares rise after Tory win 04.30pm: Over and out! That’s it for today – we’re off to get some [...]
The potential consequences of the Tenant Fee Ban June 13, 2019 Welcome to a new era, where unscrupulous letting agents are no longer allowed to demand that tenants pay hundreds of pounds in unjustified fees. The new law has been several years in the making, but at the start of this month, it finally became illegal for letting companies in England to charge tenants rip-off fees. [...]
TSB warns of 2018 profit dent from increasing Lloyds outsourcing fees February 2, 2018 Challenger bank TSB today warned that increasing fees to Lloyds for running their computer systems will dent 2018 profits. Statutory profits before tax fell by more than 10 per cent to £162.7m, from the £182m seen last year mainly because of increased outsourcing fees, TSB reported today in a full-year update. The bank, which spun [...]
Last Week in the City: Trade fears re-emerge August 3, 2018 Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (30 July to 3 August 2018). Interest rates were raised in the UK for the second time since the financial crisis, but the move was widely expected. The earnings season continued. Growth in all regions was [...]
Boom time: Clear Bank founder Nick Ogden on his efforts to start a British banking revolution January 15, 2018 Even in the ancient world of City banking, 250 years is a long time. Yet that was how long the UK has had to wait for a new clearing bank until Nick Ogden launched Clear Bank out of the blue last year. A decades-long consolidation of clearing banks – which provide banking services to other [...]
Treasury Select Committee publishes full “disgraceful” report into RBS’ restructuring unit and “profit centre” GRG February 20, 2018 The Treasury Select Committee has published the FCA’s unredacted report into Royal Bank of Scotland’s restructuring unit GRG after MPs agreed to do so this afternoon. The full report, which is available here, appears to be the same as others that have been widely circulated having been leaked in recent weeks. It makes clear that [...]