Payments regulator slams Visa and Mastercard for merchant fee hikes but forgoes price caps May 21, 2024 The UK payments regulator has found "little evidence" that fee hikes by Visa and Mastercard on retailers have majorly improved the quality of service, adding that the card giants do not face effective competition.
Wall Street titan Jamie Dimon eyes stepping away from JP Morgan May 21, 2024 Jamie Dimon, arguably the single most significant figure in global finance, gave his clearest indication yet that he is thinking about stepping down from JP Morgan. Dimon has previously brushed off questions about the remaining length of his tenure by saying he would stay five more years, every year. However yesterday he told a New [...]
Time to give the UK’s golden goose some much-needed nurturing May 21, 2024 One side committed - the other sniffing around elsewhere. It’s harder to judge betrayal in politics, where snake-like behaviour is more easily accepted.
Will TSB be the next challenger bank to go up for sale? May 20, 2024 A potential sale of TSB Bank is back in focus as its Spanish parent company Sabadell grapples with a rare hostile takeover attempt by larger domestic rival BBVA.
If you look past the headlines London is charging ahead May 20, 2024 While the headlines are dominated by a steady trickle of takeovers stripping the London Stock Exchange, money is flooding into the capital elsewhere.
Outgoing Virgin Money boss set for bumper payday despite bank’s plunge in value May 19, 2024 David Duffy stands to have made up to £30m from his tenure as chief executive of Virgin Money by the time he retires from the role after six years following the bank's takeover by Nationwide.
Russian court seizes assets from UniCredit, Deutsche Bank and Commerzbank May 18, 2024 A Russian court has ordered that Deutsche Bank's and Commerzbank's assets, accounts, property and shares be seized in Russia as part of a lawsuit involving the German banks, court documents showed.
Bank of England will move hundreds of jobs to Leeds to ‘improve trust’ May 17, 2024 One in ten employees of The Bank of England will be based in Leeds by 2027, it has been announced.
Lloyds defends return-to-office mandate as staff engagement falls to nine-year low May 16, 2024 Lloyds Banking Group has defended its workplace culture after it experienced a sharp drop in its employee engagement index last year, driven by a "tough" stance on staff returning to the office.
Competition watchdog: Nationwide PPI failures were due to how ‘systems were set up’ May 16, 2024 The competition regulator has written to Nationwide after it was revealed it provided incorrect information to payment protection insurance customers