US stocks scale to new record highs July 12, 2021 US stocks reached another record high on Monday as investors eagerly await the start of earnings season. The tech-heavy Nasdaq and blue-chip S&P 500 both scaled to new heights today, but inched back shortly afterwards. The S&P 500 rose 0.19 per cent during morning trading, while the Nasdaq added 0.06 per cent. Read more: FTSE [...]
UK banks bolster debt collection teams ahead of first Covid loan repayments July 6, 2021 The UK’s leading banks are bolstering their debt collection teams as the first repayments of emergency Covid loans fall due. Britain’s four largest banks have hired over 750 workers in their debt collection units in an effort to manage a wave of potential defaults. NatWest has taken on 150 extra staff to handle chasing Covid [...]
US stocks reach record high after strong jobs report July 2, 2021 US stocks hit a record high on Friday after the Labour Department posted better than expected jobs figures. The blue chip S&P 500 gained 0.31 per cent, up to 4,333, while the tech-heavy Nasdaq added 0.43 per cent to hit 14,585, both record highs. US businesses embarked on a hiring spree last month as the [...]
NatWest limits transfers to Binance and other crypto exchanges June 29, 2021 Concerns over investment scams and fraud has prompted NatWest to cap the daily amount customers can transfer to cryptocurrency exchanges, including Binance. The measure is intended to target several exchanges and digital asset firms. The maximum threshold differs depending on the platform and is around the thousands of pounds, NatWest said. The news was first reported [...]
Private equity firm Bridgepoint unveils plans for London IPO June 29, 2021 Private equity firm Bridgepoint today unveiled plans to list on the London Stock Exchange, marking the latest boost for the capital’s IPO market. The buyout group, which has around €27.4bn of assets under management across equity and debt funds, said it will seek to sell around a quarter of its shares while a further 15 [...]
NatWest’s Ulster Bank to sell €4.2bn worth of commercial lending to AIB June 28, 2021 The NatWest group and Ulster Bank in the Republic of Ireland (UBIDAC) have agreed with Allied Irish Banks (AIB) to sell the majority of its commercial lending for around €4.2bn. Around 280 workers will transfer from UBIDAC to AIB, one of Ireland’s largest banks, as part of the agreement, with the final number of roles [...]
UK banks’ profits slashed by more than half June 28, 2021 Big UK banks’ profits have slid by more than half over the last year, according to a ranking of the world’s largest lenders published today. UK lenders included in The Banker’s top 1,000 World Banks 2021 experienced a 53 per cent drop in profits. Losses were attributed to the severe damage the pandemic has inflicted [...]
Cloud-based phone system Aircall raises $120m as home working endures June 23, 2021 Cloud-based phone system Aircall has raised $120m in Series D funding led by Goldman Sachs, as demand for the firm’s technology surged during the remote-working boom. The round was led by Goldman Sachs with participation from current investors DTCP, eFounders, Draper Esprit, Adams Street Partners, NextWorld and Gaia Capital Partners. Aircall’s total valuation is more [...]
Watchdog warns Monzo and NatWest over banking transaction history breaches June 22, 2021 Britain’s competition watchdog has issued a warning to banks including Monzo and NatWest over breaching rules requiring them to send banking transaction histories to former account holders. Nearly 150,000 customers were not provided with the necessary information quickly enough, the Competition and Markets Authority (CMA) said today. Monzo was responsible for the largest portion of [...]
Goldman Sachs pushes back office return plans after government extends lockdown June 16, 2021 Goldman Sachs has pushed back plans to bring its UK staff back to the office after the government decided to extend the current Covid-19 restrictions for another month. The bank was preparing to bring staff back in June, but told workers overnight that it would delay its plans. A note to staff from Goldman Sachs [...]