Former Co-op Bank boss appears in court accused of £196,000 fraud October 4, 2023 Former Co-op Bank boss Paul Flowers has appeared in court accused of a £196,000 fraud by abusing his position.
UK banks’ increasing reliance on short term funds is concerning, experts warn October 3, 2023 Banks in the UK are increasing their reliance on short-term funding, with experts warning that regulators need to prevent financial stability risks from emerging.
Peel Hunt eyes ‘encouraging’ shoots of recovery after deals drop off October 2, 2023 Investment bank Peel Hunt said it was seeing “encouraging signs” of recovery today after a sharp drop off in deals and listings over the past year. In a trading update this morning, the mid-market specialist said said it has seen a “prolonged period of adverse market conditions” since the end of 2021 but revenues had [...]
Fintechs back digital pound arguing it will boost innovation and competition October 1, 2023 Fintechs are excited by the potential of a so-called digital pound arguing it will help spur innovation in the UK and create a more competitive payments environment.
Revolut in talks with FCA over suspected red-flag accounts October 1, 2023 Revolut is reportedly in discussions with the Financial Conduct Authority (FCA) over claims it allegedly allowed money to leave accounts flagged by the National Crime Agency as suspicious.
UBS says not aware of Department of Justice probe into sanctions-related compliance failures September 30, 2023 UBS said on Saturday it was not aware of a probe by the U.S. Department of Justice into alleged sanctions-related compliance failures, after a media report earlier this week.
Goldman, JP Morgan and Bank of America hit with fines for swap reporting failures September 30, 2023 The US Commodity Futures Trading Commission (CFTC) on Friday ordered Goldman Sachs, Bank of America and JP Morgan to pay a total of over $50m to settle charges of swap reporting failures and other violations, the agency said.
Credit Suisse warns of $2.2bn loss in third quarter as thousands of staff exit bank September 29, 2023 Credit Suisse has warned that it may face a $2.2bn loss in the third quarter as it attempts to deal with legacy loans and problematic parts of its business.
Science at the heart of the square mile September 29, 2023 | Sponsored The modelling started with Hurricane Andrew,” Oriol Gaspa Rebull tells me about the forecasting work Aon does to measure the risk of so-called ‘catastrophic’ events. That 1992 hurricane, which did extraordinary damage to South Florida, woke the industry up to the increasing severity of weather events. Every ‘event,’ of course, leaves insurers on the hook, [...]
Mortgage and remortgage approvals fall as higher interest rates hits property market September 29, 2023 New mortgage approvals fell to the lowest level in six months while approvals for remortgaging plummeted as rising interest rates dented the mortgage market.