JP Morgan to launch UK digital bank within months January 27, 2021 JP Morgan will launch a digital consumer bank in the UK within months, the Wall Street giant confirmed today. The new challenger bank will operate under the Chase brand and offer a range of products, including current accounts. JP Morgan said its new business, which is based in Canary Wharf, had already hired 400 people [...]
Contactless payments could be raised to £100 following Brexit agreement January 27, 2021 The limit for contactless card payments could more than double under new proposals being considered by the regulator now the UK has left the EU. The limit for contactless payments was raised from £30 to £45 last April at the start of the pandemic but could not be raised further due to a limit [...]
UK to start talks with Switzerland on post-Brexit financial services deal January 27, 2021 Chancellor Rishi Sunak will today start formal talks with his Swiss counterpart in a bid to broker a new post-Brexit financial services agreement for the UK. The Treasury said the talks would see the two sides try to deliver “a comprehensive mutual recognition agreement that would reduce costs and barriers for UK firms accessing the Swiss [...]
Exclusive: Sadiq Khan to bang the drum for Canada at World Economic Forum January 27, 2021 Exclusive: Sadiq Khan to bang drum for EU-City deal at World Economic Forum
Difficult headlines shouldn’t scare firms off admitting they’ve got work to do on equality January 27, 2021 When it comes to equality in business, it’s fair to say that very few companies are truly where they want to be yet – being honest about this is uncomfortable but important. In November 2014 we first published our gender pay gap, and four years ago we published our ethnicity pay gap. While I was [...]
Goldman Sachs boss hit with $10m pay cut due to 1MDB scandal January 27, 2021 Goldman Sachs boss David Solomon took a $10m pay cut last year due to the bank’s role in Malaysia’s 1MDB scandal. Soloman’s pay was reduced 36 per cent, from $27.5m in 2019 down to £17.5m last year, the investment bank said. It had previously confirmed that Soloman’s pay would be cut, along with finance chief [...]
Barclays boss Jes Staley: working from home ‘not sustainable’ as collaboration and culture take a hit January 26, 2021 Barclays boss Jes Staley says working from home 'not sustainable' as collaboration and culture take a hit
HSBC boss stands by bank’s support for Hong Kong’s freedom of speech crackdown January 26, 2021 HSBC’s chief executive has today stood by statements made by himself and another senior executive in support of Hong Kong’s draconian national security laws that clamp down on freedom of speech. Noel Quinn told MPs today that laws were needed to “stablise” the region last year and said there was no situation in which he [...]
‘Robots will take our jobs’: Eigen boss Lewis Liu on the future of the City worker January 26, 2021 It’s very rare a chief executive will say their work will lead to mass job cuts, not least one of an artificial intelligence firm. But Eigen Technologies’ Lewis Liu is not like your everyday boss. He is surprisingly frank in an industry that does an impressive job of spinning mass job cuts. “I’m not going [...]
Ex-EU commissioner says Brussels will not do Canada ‘any favours’ post-Brexit January 26, 2021 The UK’s former financial services commissioner to the EU has warned Canada that Brussels is trying to overturn its status as a leading global financial centre. Lord Jonathan Hill, who also served as a minister under David Cameron, said the EU would “not do us any favours” and that it was certain [...]