City Moves for 9 February: Who is switching jobs in the Square Mile this week? February 10, 2021 City Moves provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email [email protected] to be featured. This week hosts movements over at Big Four auditor Deloitte, JP Morgan, HMRC and PE firm Dean Street. Meanwhile, green London housing looks to be a focus for 2021 with Public Sector Plc’s new [...]
FTSE 100 closes flat while Wall Street rally loses steam February 9, 2021 The FTSE 100 closed flat on Tuesday afternoon while Wall Street retreated on the back off a record session yesterday. London’s blue-chip index closed 0.12 per cent higher as sterling rose to a near three-month high, largely because the dollar floundered as investors eyed a large stimulus package on the horizon. The FTSE 250 closed [...]
Millions of NatWest customers to see Visa debit card switch to Mastercard February 4, 2021 Millions of NatWest customers will see their debit cards switch as the British bank plans to start using Mastercard over Visa, despite Mastercard’s plans to hike EU fees. NatWest has become the latest bank to adopt Mastercard, which has prior agreements with Santander UK, HSBC’s First Direct and Monzo. The move will divert around 16m [...]
UK banks urged to scrap branch closures during lockdown January 28, 2021 Britain’s Financial Conduct Authority has today told banks to rethink moves to close branches during lockdown. The FCA said banks should consider the impact of national restrictions on their ability to comply with regulatory guidance on closing branches. The authority released a statement today urging banks to consult any customers that are affected directly. The [...]
HSBC chiefs to face MPs’ questions over Hong Kong protesters’ frozen accounts January 22, 2021 Two HSBC executives are set to face questions from MPs next week over the bank’s stance on Hong Kong, amid mounting pressure to reverse a decision to freeze the accounts of pro-democracy activists in the region. HSBC faced backlash last summer after it issued a statement in favour of a new National Security Law in [...]
Former Hong Kong lawmaker rejects HSBC explanation over frozen bank accounts January 18, 2021 Former Hong Kong lawmaker Ted Hui has renewed his criticism of HSBC despite the bank’s CEO expressing regret for freezing his bank accounts. Noel Quinn, HSBC chief executive, had written to Hui last week explaining that the bank was unable to operate the accounts and was instructed to act by the police. Hui, who fled [...]
Investors to push HSBC to pull out of fossil fuel investments January 10, 2021 A group of investors is reportedly urging banking giant HSBC to reduce its financing of fossil fuels such as coal. According to the Sunday Times, the coalition, which includes European fund manager Amundi and London-listed hedge fund Man Group, is aiming to table a resolution on the issue at April’s AGM. The campaign is being [...]
Editorial: Those who profit in Hong Kong must speak up in its defence November 11, 2020 US President Franklin Delano Roosevelt’s four freedoms, which he promised Americans in the face of economic strife and growing authoritarianism abroad, are freedoms that this newspaper is more than happy to sign up for. Freedom of speech, freedom of worship, freedom from want, and freedom from fear? Well, they work for us. In London – [...]
Barclays fossil fuel financing increases despite ‘net zero’ pledge November 11, 2020 Barclays has increased its financing of fossil fuel firms despite setting a ‘net zero’ goal for itself earlier this year following investor pressure, according to a new report. The bank, which is Europe’s largest fossil fuel financer, provided $24.58bn (£18.55bn) in underwriting and lending to major fossil fuel companies between January and September this year. [...]
FTSE 100 falls and US stocks mixed as coronavirus cases rise October 27, 2020 The FTSE 100 fell in afternoon trading after a choppy morning session, while US stocks were mixed amid rising coronavirus cases and some worrying economic data. London’s main stock index was last down 0.8 per cent at 5,745 points, having also fallen yesterday. Read more:HSBC to overhaul business model and accelerate plan to slash costs [...]