Lloyds pay black staff 20 per cent less than their white peers December 11, 2020 Lloyds Banking Group revealed that black staff at the company receive 20 per cent less pay than their colleagues.
Analysts call BoE’s move to allow dividend payouts ‘concerning’ December 11, 2020 Analysts are divided over the Bank of England’s decision to allow lenders to resume dividend payments to their shareholders. Yesterday, regulators gave the green light for banks to resume handouts after it was determined that banks were in a strong enough financial position to handle Covid and a possible no-deal Brexit. The announcement cheered banks [...]
Morgan Stanley: UK bank shares could fall 20 per cent in no-deal Brexit December 11, 2020 Morgan Stanley has said UK bank shares could tumble 10 to 20 per cent in a no-deal Brexit, with the FTSE 250 dropping as much as 10 per cent. It comes as the UK and EU struggle to sign a free-trade agreement. Prime Minister Boris Johnson yesterday said a no-deal Brexit outcome was now a [...]
Paypal-backed Tink raises €85m in latest funding round December 11, 2020 Tink, Europe's leading open banking platform, has received €85 million (£78m) during an investment round extension.
BoE gives lenders all-clear and extends zero capital buffer December 11, 2020 The Bank of England has said the UK’s lenders are strong enough to withstand an economic shock much worse than the one currently predicted, but extended the period in which banks can hold reduced capital buffers to try to encourage lending. Despite the all-clear, the Bank’s Financial Policy Committee (FPC) said that Brexit could cause [...]
Paris experiences modest Brexit influx as thousands of professionals relocate December 10, 2020 Since 2016, around 5,000 employees have relocated from London to Paris as a direct result of Brexit, a report finds.
UK Banks OK to restart dividend payments, PRA says December 10, 2020 The banking regulator has given lenders the go-ahead to restart dividend payments, saying it believes they are in a strong enough position to withstand a hit to the economy more severe than the current expectations. The Prudential Regulation Authority (PRA) lent on banks to stop paying out dividends in the spring. It said they should [...]
Morgan Stanley to move €100bn of assets to Frankfurt amid Brexit December 10, 2020 Wall Street giant Morgan Stanley is planning to move around €100bn (£92bn) in assets to Frankfurt in Germany to protect its business amid Brexit. Bloomberg reported that the bank plans to move the assets in the first quarter of next year, to the subsidiary Morgan Stanley Europe. Morgan Stanley is the latest lender to transfer [...]
How Covid-19 turned out to be Open Banking’s moment to shine December 10, 2020 If you were to ask a UK business in the past few months whether they use Open Banking, they might look confused. But if you asked them whether they’ve been using digital tools to help them forecast their cashflow, see their accounts in real time, issue paperless invoices to clients or apply for a government [...]
Dutch court to probe UBS boss over ING money laundering problems December 9, 2020 UBS has backed its new chief executive Ralph Hamers after a Dutch court ordered an investigation into him relating to money laundering at ING, where he was CEO until earlier this year. ING paid a €775m – or roughly £700m – settlement to Dutch prosecutors in 2018 after it failed to notice money laundering and [...]