COP26: Global pact will ‘consign coal to history’ says Alok Sharma – CityAM : CityAM November 4, 2021 The end of coal production is in sight, argues Cop26 president and cabinet minister Alok Sharma, as 46 countries agree to phase out the world’s most polluting energy source. Coal is responsible for 46 per cent of carbon dioxide emissions worldwide. The countries have committed to ending coal power usage in the 2030s across major [...]
COP26: China, US, India and Australia absent from global coal pact November 4, 2021 China, US, and India and Australia have not joined 48 nations pledging to phase out coal production. All four countries are collectively responsible for over 50 per cent of coal emissions. The pact was agreed at the COP26 climate conference in Glasgow, and commits countries to ending coal power usage in the 2030s across major [...]
Top finance brass: City grandees need to show off green stripes to rake in bonuses November 3, 2021 City grandees will need to show off their green stripes to rake in bumper bonuses, some of the finance industry’s top brass said today. The chief of one Britain’s biggest banks, part state-owned NatWest, sent a warning shot to the bank’s top dogs that their environmental track record will be considered when awarding bonuses. Speaking [...]
London markets dip as NatWest tumbles on money laundering charge October 29, 2021 London markets tumbled this morning driven by investors being spooked by NatWest booking millions to deal with the fallout of a money laundering scandal. The capital’s premier FTSE 100 index dipped 0.24 per cent to 7,231.78 points, while the mid-cap FTSE 250 fell 0.37 per cent to 23,113.91. More to follow.
NatWest books £300m in legal fees to deal with money laundering fallout October 29, 2021 NatWest has set aside nearly £300m in legal fees to deal with the fallout of admitting it allowed money laundering to take place in the bank. The bank announced in its third quarter results that it booked a £294m litigation and conduct charge during the period. NatWest recently became the first British bank to admit [...]
SMEs fear high energy costs will act as a barrier to growth October 25, 2021 Seventy per cent of small and medium enterprises (SME) owners believe that high-energy costs will negatively affect the growth of their businesses, according to a new survey from Tyl by Natwest. The group questioned 500 UK SME business owners, and discovered that 65 per cent of SMEs are spending up to one fifth of their [...]
HSBC online banking hit by an outage, impacting business customers October 25, 2021 HSBC’s online banking has been down this morning, according to reports, which primarily impacted the bank’s business customers. Service complaints spiked at around 9:30am this morning, according to DownDetecter, with more than 60 per cent of the complaints regarding HSBC’s online banking. The issue had largely been resolved by around 11:30am, with reports of the [...]
HSBC online banking hit by an outage, impacting business customers – CityAM : CityAM October 25, 2021 HSBC’s online banking has been down this morning, according to reports, which primarily impacted the bank’s business customers. Service complaints spiked at around 9:30am this morning, according to DownDetecter, with more than 60 per cent of the complaints regarding HSBC’s online banking. The issue had largely been resolved by around 11:30am, with reports of the [...]
Not just NatWest: Compliance guru on why money laundering is rampant in the City October 21, 2021 Over the past few decades, money laundering has become an increasingly prevalent issue. Financial institutions are constantly looking for new ways to fight money launderers, and several anti-money laundering policies have been put in place to help this effort. However, the recent case against NatWest sent shockwaves through the City, with many financial institutions realising that the financial watchdog, [...]
Global deal making frenzy lifts Barclays profits to record high October 21, 2021 Barlcays has ridden the wave of a booming global deal making frenzy to post its strongest ever third quarter results. The UK banking behemoth registered a pre-tax profit of £6.9bn in the year to the end of September, its best take ever. The standout performance was driven by Barclays’ investment banking division posting its best [...]