Watchdog blocks Lloyds’ unfair treatment of Covid-hit firms September 8, 2020 The competition watchdog has stopped Lloyds Bank from forcing small business customers to open business current accounts when taking out bounce back loans. The Competition and Markets Authority (CMA) has accused Lloyds of “bundling” loans and business current accounts for small companies. Bundling is where a bank requires small business customers to open a current [...]
Ed Warner: What Ivan Toney and Shohei Ohtani say about sport and gambling March 28, 2024 From football to baseball, sport is intertwined with betting.
One year on from Credit Suisse deal, $100bn UBS finally has the scale to take on Wall Street March 19, 2024 Swiss banking giant UBS has reinforced its status as one of the world's leading wealth managers after its market capitalisation sailed past $100bn shortly before the first anniversary of its landmark deal to acquire rival Credit Suisse.
Truss backs Bank of England review to ensure ‘it is fit for purpose’ August 11, 2022 The biggest overhaul of the Bank of England in 25 years may be needed to ensure “it is fit for purpose,” Tory leadership front-runner Liz Truss’s campaign told City A.M. today. The comments represent an escalation in Truss’s drive to shake up the regime overseeing the Bank’s performance. She has promised to review Threadneedle Street’s [...]
Tech giants hit with new rules amid calls to fix ‘dysfunctional’ ad market November 27, 2020 Facebook and Google will be subjected to tighter scrutiny over how they use consumer data as ministers face calls to fix the “dysfunctional” online advertising market. The government today announced the launch of a new digital markets unit aimed at curbing the dominance of tech giants and giving consumers greater control over their personal data. [...]
City watchdog to crackdown on adverts that downplay risk of borrowing as cost-of-living crisis bites May 6, 2022 The UK’s financial watchdog has told lenders and brokers to stop using misleading terms in their advertising that might make borrowing money look easier or less risky than it is. The Financial Conduct Authority (FCA) has sent letters to 28,000 consumer credit firms telling them to stop using terms such as “no credit check loans,” [...]
‘Break the chains’ of regulation holding back challenger banks, MPs say August 30, 2022 A “one-size-fits-all” approach to regulating UK lenders has failed and watchdogs need to “break the chains” restricting the growth of challenger banks, a group of MPs said today.
Li Keqiang: China’s ex-premier and top economic official for a decade dies aged 68 October 27, 2023 Li was China’s number two leader from 2013-23 and an advocate for private business but was left with little authority by Xi.
Metro Bank fundraise averts immediate threat – but what next? October 9, 2023 Metro Bank's emergency capital raise has reassured investors for the moment, but analysts warned the bank needed to develop a more convincing investment case if it is to survive.
Post-Brexit boost for the City as London takes top spot in global financial powerhouse rankings January 27, 2022 London continues to hold the top spot for financial and professional services in terms of overall offer when compared to other global destinations, including New York, Singapore, Hong Kong, Paris and Frankfurt, according to new figures published this morning. London received an overall competitiveness score of 61, followed by New York (58) and Singapore (53). [...]