RBS chairman Howard Davies: Banks set to trigger Brexit contingency plans in March 2018 without details of transitional period October 8, 2017 The chairman of Royal Bank of Scotland has said he’s not concerned that the government has taken its “eye of the ball” when it comes to Brexit amid continued in-fighting in Theresa May’s government. But Howard Davies warned that “some” jobs at the bank will go and that the damage of leaving the EU on [...]
Sexism in the City: Jayne-Anne Gadhia tells MPs of “pervading sexism” in the Square Mile October 24, 2017 A former environment of “pervading sexism” in the City created an “alpha male” environment in which harassment was common, according to Virgin Money chief executive Jayne-Anne Gadhia. Speaking today to MPs on the Treasury Select Committee, Gadhia said she had come across multiple incidents during her career in the Square Mile when sexism had reared [...]
Activists at odds over RBS claims: The strange tale of two groups taking on the big bank August 24, 2018 Investors in RBS have become alarmed by payments made between two separate action groups claiming to represent shareholders and customers wronged by the bailed-out banking giant. The RBoS Shareholders Action Group company (AGC) was set up during the financial crisis to bring together RBS shareholders who claimed the bank hid the true state of its [...]
Late May bank holiday weather: London temperatures to reach high 20s – but thunderstorms loom May 25, 2018 Mixed weather news for all those planning to stay in the capital for the long weekend: London could be one of the warmest parts of the country, but might also suffer from a thunderstorm or two. Temperatures are expected to heat up over the next few days, peaking at 28°C on Monday, according to the [...]
Persimmon produce stable 1H numbers August 23, 2018 Persimmon shares are higher this week after the company registered a strong set of first-half results on Tuesday. Revenue jumped by 5% and pre-tax profit rose by 13%. The average selling price of a new home rose by 1%, which is a slight decrease on the 1.2% growth achieved in the first-quarter. The underlying new housing [...]
RBS closes in on £3.6bn settlement over US mortgage bond mis-selling June 12, 2017 Royal Bank of Scotland (RBS) is close to agreeing a multi-billion pound fine with US authorities over the mis-selling of mortgage bonds, according to reports. Discussions are understood to be at an advanced stage between the state-backed lender and the US Federal Housing Finance Agency (FHFA), according to reports by Sky News. A settlement is [...]
Royal Bank of Scotland to slash 200 UK jobs and shut branches May 12, 2016 Royal Bank of Scotland is planning to slash around 200 jobs from its retail unit, in the latest round of cuts to the lender's workforce as part of a wider restructuring of the business. The planned job losses, which were reported by Reuters, mean that RBS will have axed more than one in 10 positions at its [...]
Banks to be forced to reveal all cyber security breaches to the European Central Bank June 19, 2017 All banks regulated by the European Central Bank (ECB) will be forced to reveal all major cyber security breaches, according to one of the supervisor’s bosses. Starting this summer, banks directly supervised by the ECB will have to “report all significant cyber incidents”, said Sabine Lautenschlaeger, a member of the ECB’s executive board. At a [...]
Big four UK banks on the mend after racking up £66bn of charges in six years, says S&P Global report June 8, 2017 The UK’s big four banking groups have racked up £66bn of conduct and litigation charges in the last six years, a new report out today has estimated. But analysts at S&P Global Ratings expect 2016 will “prove to be the last year in which charges remain at the outsized levels we have seen recently”. The [...]
Made in Britain: The entrepreneur helping UK firms realise their exporting ambitions in Asia November 5, 2018 I am at the National Liberal Club in London. Everything about this place – from the smoking room to the 1915 portrait of Winston Churchill – screams old-world British at me. And there’s nothing coincidental about Siddharth Shankar’s choice of meeting place. Surrounded by empty chesterfield sofas, Shankar seems to be in his element – [...]