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....Finding a new chief executive will be his professional priority. Tucker, a former pro footballer who is best known in the UK for his lengthy career at insurer Prudential – punctuated by a short stint as finance director of banking group HBOS – should move fast. ... [Read full article on Guardian ]
Sunday 19th of March 2017 07:00:00 AM
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.... The real owners of most of the firms used in the scheme remain secret, however, because of the anonymity provided by controversial offshore laws. The Global Laundromat banking records were obtained by the Organized Crime and Corruption Reporting Project (OCCRP) and Novaya Gazeta from sources who wish to remain anonymous. ... [Read full article on Guardian ]
Monday 20th of March 2017 06:00:24 PM
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....Annuities are a form of insurance: they protect an individual against the risk of living so long that all their money runs out. The warrior monks who invented banking . ... [Read full article on BBC ]
Monday 20th of March 2017 12:02:25 AM
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...." . Barclays already allows some of its customers to pay in cheques via pictures on their banking apps. ... [Read full article on BBC ]
Wednesday 22nd of March 2017 10:34:53 AM
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....It is perhaps just as well that he has a head for heights. Because, just 24 months after getting his first job in banking, he is now the boss of telephone and online bank First Direct. ... [Read full article on BBC ]
Friday 17th of March 2017 10:00:40 PM
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....". Ahead of the 2014 referendum, ratings agency Fitch warned that plans for an independent Scotland to continue use of the pound without shared fiscal and banking union with the UK could risk "high volatility and market turbulence". ... [Read full article on BBC ]
Monday 20th of March 2017 09:34:16 PM
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....The Boston-born banker was a controversial figure. Before being elevated to run the bank in September 2010, he was head of Barclays Capital, its investment banking division. ... [Read full article on BBC ]
Friday 17th of March 2017 07:45:59 AM
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. German banking giant Deutsche Bank cut its bonuses by more than three-quarters last year, its annual report and accounts show. ... [Read full article on BBC ]
Monday 20th of March 2017 09:25:46 AM
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. Mark Carney has defended the Bank of England's handling of Charlotte Hogg's resignation during a speech on banking ethics. ... [Read full article on BBC ]
Tuesday 21st of March 2017 11:22:41 AM
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.... . The finance minister also declared his support for strong international banking regulations. ... [Read full article on BBC ]
Thursday 16th of March 2017 01:55:49 PM
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.... It is never too early to teach your children about finances, especially as money can seem almost invisible to them at times. Internet banking, online shopping and card payments often mean some children hardly ever see notes and coins. ... [Read full article on Guardian ]
Saturday 18th of March 2017 06:30:31 AM
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....Judging by his comments, Mark Carney is blissfully unconcerned about inflation rising above its 2% target for the first time since 2013. The governor dismissed the unexpectedly sharp rise in the cost of living as a “single data point” when quizzed about it at a conference on ethics in banking held at the Bank of England. ... [Read full article on Guardian ]
Tuesday 21st of March 2017 04:10:01 PM
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.... The then chancellor, George Osborne, described Diamond’s resignation as “the right decision for Barclays – and for the country”. Diamond – once branded the “unacceptable face of banking” by Lord Mandelson – is choosing one of the City’s most venerable names for his comeback. ... [Read full article on Guardian ]
Friday 17th of March 2017 08:15:51 AM
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.... The Tories called it a “tax on jobs” and they’re not wrong – the tax burden occurs when people are employed, not when profits are made, which is backwards. Taking NICs out of the equation would give firms the financial room to raise wages, and enforcing minimum income standards would give them the incentive to pass the tax break back on to workers, rather than simply banking it offshore. ... [Read full article on Guardian ]
Friday 17th of March 2017 08:59:05 AM
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Latest Finance News related to Banking

Cheque next-day clearance system to start from THIS year image
Source : Daily Express [Read Article] Wednesday 22nd of March 2017 02:36:00 PM
.... . But if someone receives cheques, instead of going to their bank to pay them in, they may instead want to upload images of them on to their mobile banking app to pay them in. ...
Bank cheques to be cleared within a day image
Source : BBC [Read Article] Wednesday 22nd of March 2017 10:34:53 AM
...." . Barclays already allows some of its customers to pay in cheques via pictures on their banking apps. ...
UK wages will soon lag behind prices – will the Bank take action? | Larry Elliott image
....Judging by his comments, Mark Carney is blissfully unconcerned about inflation rising above its 2% target for the first time since 2013. The governor dismissed the unexpectedly sharp rise in the cost of living as a “single data point” when quizzed about it at a conference on ethics in banking held at the Bank of England. ...
Carney defends Bank of England over Hogg resignation image
Source : BBC [Read Article] Tuesday 21st of March 2017 11:22:41 AM
. Mark Carney has defended the Bank of England's handling of Charlotte Hogg's resignation during a speech on banking ethics. ...
Lord King: Scotland 'could be independent' image
Source : BBC [Read Article] Monday 20th of March 2017 09:34:16 PM
....". Ahead of the 2014 referendum, ratings agency Fitch warned that plans for an independent Scotland to continue use of the pound without shared fiscal and banking union with the UK could risk "high volatility and market turbulence". ...
British banks handled vast sums of laundered Russian money image
Source : Guardian [Read Article] Monday 20th of March 2017 06:00:24 PM
.... The real owners of most of the firms used in the scheme remain secret, however, because of the anonymity provided by controversial offshore laws. The Global Laundromat banking records were obtained by the Organized Crime and Corruption Reporting Project (OCCRP) and Novaya Gazeta from sources who wish to remain anonymous. ...
Deutsche Bank cuts staff bonuses image
Source : BBC [Read Article] Monday 20th of March 2017 09:25:46 AM
. German banking giant Deutsche Bank cut its bonuses by more than three-quarters last year, its annual report and accounts show. ...
Blurred lines? image
Source : BBC [Read Article] Monday 20th of March 2017 12:02:25 AM
....Annuities are a form of insurance: they protect an individual against the risk of living so long that all their money runs out. The warrior monks who invented banking . ...
Unilever is safe, but we need better defences against short-term capitalism image
....Finding a new chief executive will be his professional priority. Tucker, a former pro footballer who is best known in the UK for his lengthy career at insurer Prudential – punctuated by a short stint as finance director of banking group HBOS – should move fast. ...
Seven ways to teach your kids about money image
Source : Guardian [Read Article] Saturday 18th of March 2017 06:30:31 AM
.... It is never too early to teach your children about finances, especially as money can seem almost invisible to them at times. Internet banking, online shopping and card payments often mean some children hardly ever see notes and coins. ...
George Osborne is laughing at us as he takes his Evening Standard job | Aditya Chakrabortty image
.... Dress it up in ceremonial robes but this is class privilege writ large and made all the more glaring by being pursued by politicians who bang on about a “fair crack” and the need for social mobility. From banking to the press to Westminster, Britain’s elites have shown themselves to be both unreformed and unreformable. ...
Any old Joe image
Source : BBC [Read Article] Friday 17th of March 2017 10:00:40 PM
....It is perhaps just as well that he has a head for heights. Because, just 24 months after getting his first job in banking, he is now the boss of telephone and online bank First Direct. ...
If big business is to thrive, it needs a strong welfare state | Phil McDuff image
.... The Tories called it a “tax on jobs” and they’re not wrong – the tax burden occurs when people are employed, not when profits are made, which is backwards. Taking NICs out of the equation would give firms the financial room to raise wages, and enforcing minimum income standards would give them the incentive to pass the tax break back on to workers, rather than simply banking it offshore. ...
Former Barclays chief Bob Diamond to buy Panmure Gordon image
Source : Guardian [Read Article] Friday 17th of March 2017 08:15:51 AM
.... The then chancellor, George Osborne, described Diamond’s resignation as “the right decision for Barclays – and for the country”. Diamond – once branded the “unacceptable face of banking” by Lord Mandelson – is choosing one of the City’s most venerable names for his comeback. ...
Bob Diamond in deal to buy stockbroker Panmure Gordon image
Source : BBC [Read Article] Friday 17th of March 2017 07:45:59 AM
....The Boston-born banker was a controversial figure. Before being elevated to run the bank in September 2010, he was head of Barclays Capital, its investment banking division. ...
Schaeuble calls for 'strong' City post Brexit image
Source : BBC [Read Article] Thursday 16th of March 2017 01:55:49 PM
.... . The finance minister also declared his support for strong international banking regulations. ...
Charlotte Hogg image
Source : BBC [Read Article] Tuesday 14th of March 2017 01:51:01 PM
. Bank of England governor Mark Carney has fulsomely promised to do "everything we can to honour" Charlotte Hogg's "work for the people of the United Kingdom" after she resigned as deputy chair for markets and banking on Tuesday. ...
Charlotte Hogg resigns as Bank of England deputy governor image
Source : BBC [Read Article] Tuesday 14th of March 2017 09:40:11 AM
....But news of her brother's job only emerged earlier this month, when she faced MPs on the Treasury Committee about her promotion to deputy governor. She would have had responsibility for markets and banking. ...
Charlotte Hogg resigns as Bank of England deputy governor image
Source : Guardian [Read Article] Tuesday 14th of March 2017 09:33:31 AM
.... She then admitted days later she had not made the disclosure and was therefore in breach of the Bank’s code of conduct she had helped to write. The admission forced the MPs to hold a series of private meetings after which they issued their unanimous report, concluding Hogg’s “professional competence falls short of the very high standards required to fulfil the additional responsibilities of deputy governor for markets and banking”. ...
HSBC appoints AIA boss Mark Tucker as new chairman image
Source : BBC [Read Article] Sunday 12th of March 2017 11:19:23 PM
....Despite those efforts, profits tumbled more than 60% last year. The banking industry has been hampered by the extended period of very low interest rates, which makes lending money less profitable. ...
After Brexit, Israel senses a chance to boost trade with UK image
Source : Guardian [Read Article] Saturday 11th of March 2017 04:00:38 PM
....Canada, Australia and New Zealand are top of the list of countries Brexit ministers believe will be willing and able to sign a trade deal soon after the UK quits the EU. Canada sealed a deal with the EU last year that covers goods and services from agriculture to banking. ...
Greek activists target sales of homes seized over bad debts image
Source : Guardian [Read Article] Saturday 11th of March 2017 08:00:29 AM
.... Activists estimate that only a fraction of auctions of 800 homes and small business enterprises due to go under the hammer since January have actually taken place. Under pressure to strengthen the country’s fragile banking system, Athens’ leftist-led government has agreed to move ahead with around 25,000 auctions this year and next. ...
Charlotte Hogg: a family tree deeply rooted in the British establishment image
....She told MPs she took “full responsibility for the oversight” and that it was “regrettable” she had told them – erroneously – that she had already disclosed potential conflicts of interest. Her new role includes oversight of banking, as well a seat on the rate-setting monetary policy committee. ...
Bank of England deputy governor's future hangs in balance image
Source : Guardian [Read Article] Friday 10th of March 2017 07:18:25 PM
.... The MPs only have an advisory role with regard to Bank appointments, but their opinion is influential. As deputy governor, Hogg is responsible for monitoring markets and banking, and has also kept her previous job as the bank’s chief operating officer, in charge of day-to-day management at the 300-year-old institution. ...
The Guardian view on the Ofcom deal: too little, too slowly | Editorial image
.... This is something that goes much deeper than the obvious compulsion to remain in close touch with a telephone or on social media. Shopping and banking are increasingly expensive for the minority who can’t afford to do them online. ...
Banker Charlotte Hogg’s error is a cautionary tale for the privileged | Deborah Orr image
. Charlotte Hogg is the economist who last month was made deputy governor, markets and banking, of the Bank of England. ...
Striver? Tory architect of austerity George Osborne banks £1m fortune image
....Andrew Gwynne, shadow Cabinet Office minister, said it was outrageous that Osborne’s annual pay from his one-day a week job is more than many of his constituents “will see in their lifetime, [and] all whilst still claiming his full salary as an MP”. “It is an outrage that whilst the country was listening to the chancellor sentencing us to austerity until at least 2025 – Osborne was banking almost £1m trading in his experience as a failed former chancellor and failed EU negotiator. ...
What are the UK's highest paid apprenticeships of 2017? image
Source : Guardian [Read Article] Thursday 9th of March 2017 09:42:43 AM
....There are a variety of apprenticeships available in financial services, which span a range of specialisms, including: investment, operations, technology and finance. Investment banking companies such as JP Morgan offer a scheme that covers these areas, while Barclays, Lloyds and Santander offer trainee roles in finance, digital technology, audit and management. ...
RBS awards nearly £16m of bonuses in shares to nine top executives image
Source : Guardian [Read Article] Wednesday 8th of March 2017 06:57:42 PM
....The bonuses being awarded will not pay out before 2020. They shed light on the payouts to executives outside the boardroom, such as Chris Marks, the head of the investment banking operation, NatWest Markets, who was awarded shares of more than £2m. ...
Taxes for self-employed likely to rise in Hammond's budget image
Source : Guardian [Read Article] Tuesday 7th of March 2017 08:05:27 PM
....Almost half – 45% – of the growth in jobs as Britain’s economy has bounced back since 2008 has been in self-employment. Much of that has been in traditionally high-paid sectors such as advertising and banking, rather than the low-paid taxi drivers and couriers whose cases have caught public attention. ...
Bank deputy Charlotte Hogg admits breaching guidelines image
Source : BBC [Read Article] Tuesday 7th of March 2017 04:00:30 PM
. Charlotte Hogg, the Bank of England's newly appointed deputy governor for markets and banking, has admitted breaching the Bank's guidelines. ...
Bank of England deputy's slip-up was astonishing – but its reaction was predictable | Nils Pratley image
....To see why, look at Halifax’s ratio of house prices to earnings, as reliable a guide as any to affordability, froth and danger. The current level is about six times (pdf), which was last seen in 2007, just before the banking crash and recession. ...
Bank of England deputy governor gets warning over conflict of interest image
....His role could potentially conflict with her work on the Prudential Regulation Committee, which has direct responsibility for regulating banks including Barclays. Carney took the disciplinary action just days after Hogg took up the role as deputy governor for markets and banking on 1 March, replacing Minouche Shafik. ...
Inside the TalkTalk 'Indian scam call centre' image
Source : BBC [Read Article] Monday 6th of March 2017 11:47:00 AM
.... . A separate team would use that virus to gain access to victims' online banking, they add. ...
Drugs disaster image
Source : BBC [Read Article] Monday 6th of March 2017 12:10:46 AM
....How the barcode changed retailing. The warrior monks who invented banking. ...
Deutsche Bank shares hit by cash call image
Source : BBC [Read Article] Sunday 5th of March 2017 04:57:28 PM
....The sale by the troubled bank is part of a wider shake-up. Deutsche will also partially float its asset management business and retain Postbank - the retail banking business that it had been expected to sell. ...
Sorry, Brexit doomsayers, the outlook is good on global growth image
Source : Guardian [Read Article] Saturday 4th of March 2017 05:00:20 PM
.... Former treasury secretary Larry Summers and Nobel prizewinner Paul Krugman both agree on a return to the “new normal” or “secular stagnation” of low growth and low wages within months, not years. Another crash could be coming if Trump does loosen banking regulations and allow credit to surge. ...
Low key Budget?  image
Source : BBC [Read Article] Saturday 4th of March 2017 01:17:34 AM
. Consider Wednesday's Budget as part of a box set - the latest episode in a financial drama that began with the banking crisis. ...
Creative retirement image
Source : BBC [Read Article] Friday 3rd of March 2017 09:24:42 PM
.... The money is distributed annually, but most do think of it as an investment for their future. "Like many people in America I will invest in the future if I have extra funds," says Ms Shin, "I'm not banking on this to work out but I think it's an interesting alternative. ...
China's economic concerns mount as thousands gather for congress image
Source : Guardian [Read Article] Friday 3rd of March 2017 06:26:46 AM
....“We expect the meeting this year to confirm a shift in policy towards reining in risks and away from supporting short-run growth,” Capital Economics said in a report. In perhaps a preview of NPC discourse, China’s new banking watchdog Guo Shuqing warned Thursday of threats posed by debt-strapped state-owned firms, inflated real-estate markets, and massive unregulated lending. ...
PPI claims deadline is announced image
Source : BBC [Read Article] Thursday 2nd of March 2017 07:21:58 AM
....People seeking compensation over mis-sold payment protection insurance (PPI) will have to make their claims before 29 August 2019. The final deadline has been set by the Financial Conduct Authority (FCA) in an effort to draw a line under one of the banking industry's biggest scandals. ...
Bank deputy Charlotte Hogg 'must avoid conflicts of interest' image
Source : BBC [Read Article] Thursday 2nd of March 2017 12:00:04 AM
....Charlotte Hogg, a newly appointed Bank of England deputy governor, must take steps to avoid conflicts of interest, say MPs. Ms Hogg, who became deputy governor for markets and banking in February, sits on three powerful Bank committees. ...
Wall Street stocks rise after Trump's corporate tax cut promises image
Source : Guardian [Read Article] Wednesday 1st of March 2017 06:42:20 PM
....Banking stocks were among the biggest risers alongside defence contractors and firms in a position to benefit from rising infrastructure spending, like the construction and mining equipment maker Caterpillar, which has seen a near-60% rise in its share price over the last year. The UK banking index rose 1. ...
Overdraft charges are elephant in the room, say MPs image
Source : BBC [Read Article] Wednesday 1st of March 2017 02:41:57 PM
....The committee said there were concerns over the transparency of charges and how easy it was to compare between different banks. The model of "free banking", whereby banks clawed back costs through overdraft charges, required "government or regulatory attention", it said. ...
Will Trump build a wall protecting US banks from global rules? | Howard Davies image
.... For the financial world, one of the most significant departures was that of Daniel Tarullo, the Federal Reserve governor who has led its work on financial regulation for the last seven years. It would be a stretch to say that Tarullo has been universally popular in the banking community. ...
AMC, APR, ERC explained: The ridiculous financial acronyms that serve to confuse image
Source : Daily Express [Read Article] Wednesday 1st of March 2017 09:01:00 AM
....The Annual Percentage Rate allows you to compare like with like on mortgages, credit cards and personal loans by showing the cost over the full term of the deal. David Black, banking specialist at DJB Research, warns the advertised representative APR on a credit card or loan is not necessarily the one you will get: “Lenders have to offer the headline rate to only 51 per cent of successful applicants, the rest could pay more. ...
The new bank you've NEVER heard of offering BRILLIANT deals for savers image
Source : Daily Express [Read Article] Wednesday 1st of March 2017 08:47:00 AM
....“Savers would be wise to act sooner rather than later,” she added. Atom will only suit tech-savvy savers who can download its mobile banking app, from Apple and Android Play stores. ...
PPI still dominates financial ombudsman's in-tray image
Source : BBC [Read Article] Tuesday 28th of February 2017 12:14:54 AM
...."The FCA's proposals - including the PPI deadline - are likely to heavily influence our complaints volumes," Ms Wayman said. Millions of people have already been paid compensation following what was one of the banking industry's biggest scandals. ...
Innovation, Ikea style image
Source : BBC [Read Article] Monday 27th of February 2017 12:20:58 AM
Smart vision image
Source : BBC [Read Article] Sunday 26th of February 2017 12:57:32 AM
....He's currently trying to raise money on a crowdfunding website to make the software available in smart glasses. "We're banking on the support of others in empowering the blind. ...
Vast losses at RBS are a legacy of a failed system | Will Hutton image
Source : Guardian [Read Article] Sunday 26th of February 2017 12:05:15 AM
.... Last week, RBS, at the time of the crisis the world’s biggest bank, announced another stunning loss of £7bn – so chalking up cumulatively some £58bn of losses since 2008. It is now even clearer than it was at the time that had the government not stepped in, taking a vast £45bn stake, RBS would have gone bust, threatening a more widespread banking panic with cascading consequences hard to contain. ...
Hi-tech financial firms flee UK amid doubts over Brexit image
Source : Guardian [Read Article] Saturday 25th of February 2017 08:54:32 PM
....An exodus of “fintech” companies from Britain has begun, the chief executive of a leading firm has said, dashing the government’s hopes of building the UK into a world leader for the industry. Every reasonably-sized company in the flourishing financial technology sector – involving e-lending, money transfers and the banking markets – is now actively looking at moving staff and investment out of the country because of the uncertainty caused by Brexit, it is claimed. ...
Barclays apologises for cash machine and debit card faults image
Source : BBC [Read Article] Saturday 25th of February 2017 04:31:38 PM
. Barclays has apologised after customers reported problems using cash machines, debit cards and phone banking. ...
Royal Bank of Scotland losses more than treble to £7bn image
Source : BBC [Read Article] Friday 24th of February 2017 07:32:39 AM
....The European Union ordered RBS to sell the unit by the end of 2017 to address competition concerns, but last year RBS failed to sell the business to Santander and talks with Clydesdale Bank failed. Instead, RBS and the government have suggested the bank gives £750m - which the bank has set aside - towards initiatives designed to boost competition in UK business banking. ...
RBS reports £7bn loss and says it will not make profit until 2018 image
Source : Guardian [Read Article] Friday 24th of February 2017 07:27:28 AM
.... RBS has set aside £400m for GRG. “RBS is showing a bit of top-line income growth in its core UK banking operations,” said Sandy Chen at Cenkos, an independent specialist securities firm. ...
Former IMF chief gets four years in jail for embezzlement in Spain image
Source : Guardian [Read Article] Thursday 23rd of February 2017 04:40:36 PM
.... Less than a year later he resigned as it became known Bankia was in dire straits. The state injected billions of euros, but faced with the scale of Bankia’s losses and trouble at other banks it asked the EU for a bailout for the entire banking sector and eventually received €41bn. ...
Barclays' profits almost triple but chairman says many challenges await image
Source : Guardian [Read Article] Thursday 23rd of February 2017 09:10:57 AM
....The bank, which has been scrambling to repair its reputation since the 2012 Libor rate-fixing scandal, is fighting the US Department of Justice over a decade-old mortgage bond misselling scandal. It is also awaiting the outcome of an investigation by the UK’s Serious Fraud Office into the way it raised funds during the height of the banking crisis. ...
First Trust to close half its Northern Ireland branches image
Source : BBC [Read Article] Thursday 23rd of February 2017 08:36:10 AM
....Just five years ago First Trust had more than 40 branches - when this latest cull is complete it will have just 15. Closing branches is part of a trend across the banking industry as customers do more of their transactions online. ...
Where now for ethical banking? image
Source : Independent [Read Article] Wednesday 22nd of February 2017 01:12:00 PM
...
Related to :
'Employers are missing out' image
Source : BBC [Read Article] Wednesday 22nd of February 2017 12:56:58 AM
.... . She was a nurse when she was diagnosed with rheumatoid arthritis, but daily work tasks became too much for her and she switched her career to banking. ...
Losing banking jobs to EU 'threatens financial stability across Europe' image
Source : Guardian [Read Article] Tuesday 21st of February 2017 06:00:11 PM
. The City of London has warned that the loss of banking jobs to EU countries due to Brexit could threaten British and European financial stability. ...
We are unlikely to spot next financial crisis, Bank of England official says image
....Monetary policy committee member Gertjan Vlieghe said it was impossible for the Bank to forecast a recession, let alone the next crash, and no amount of fine-tuning models of the way the modern economy operates would change that harsh reality. Appearing before MPs, Vlieghe warned it was inevitable there would be forecasting errors, which could include missing a cataclysmic event such as the 2008 banking crisis. ...
City watchdog investigating HSBC over potential financial crime, bank reveals image
.... The dividend is held at 51 cents a share. But the bank’s shares, which have risen 55% since the EU referendum, endured one of their biggest one day falls since the depths of the banking crisis. ...
The supermarket food gamble may be up | Felicity Lawrence image
Source : Guardian [Read Article] Monday 20th of February 2017 06:00:29 AM
....The brief disappearance of a few green and salad vegetables was hardly a great deprivation, but we should take it seriously as an early warning sign. Like the banking system, our food system seems too big, too sophisticated and too embedded in everyday life to fail. ...
Results will reveal the good, the bad and the ugly of UK banks image
Source : Guardian [Read Article] Sunday 19th of February 2017 03:37:29 PM
....“Bank results look like they will be a mix of the good, the bad and the ugly this time around. Litigation still looms large, particularly for RBS which has a plateful of problems to digest, while low interest rates continue to present a challenge for the core business of banking,” said Laith Khalaf, senior analyst at Hargreaves Lansdown. ...
Another Brexit downside: foreign giants in power grabs for famous British names image
....The chancellor had made it clear that the uncertainties surrounding W&G, as well as a hard-to-quantify bill the bank faces over a US bond mis-selling scandal a decade ago, were the main obstacles to selling off the 73% stake that taxpayers still own in the bank. So in setting out alternative proposals to Brussels to spend £750m injecting competition into the banking market, Hammond is removing one of the key hurdles in the way of extricating the taxpayer from the bank. ...
Co-op Bank faces struggle to find owner with ethics – and deep pockets image
Source : Guardian [Read Article] Saturday 18th of February 2017 04:00:05 PM
....A vivid 152-page account into what went wrong at the Co-op by former top civil servant Sir Christopher Kelly concluded it was brought down by poor management, bad lending, a flawed culture and an overambitious drive for growth. Its former chief executive, Barry Tootell, has been banned from ever holding a senior position in banking again and former chairman Paul Flowers was fined for possessing cocaine, crystal meth and ketamine and subsequently dismissed as a minister by the Methodist church. ...
Co-op Bank is up for sale – is it time to leave? image
Source : Guardian [Read Article] Saturday 18th of February 2017 07:00:33 AM
....Even its natural friends are losing faith. The Move Your Money group, which campaigns for “equitable and sustainable banking”, says: “The truth is that this is the last spin of the dice for a desperate and downtrodden institution. ...
It’s all talk at Santander as voice recognition banking begins image
Source : Guardian [Read Article] Saturday 18th of February 2017 07:00:33 AM
.... Transactions appear in real time once payments are made, as if they were being done manually. Ed Metzger, head of technology innovation at Santander, says: “The appetite for simple, intuitive banking has grown significantly in recent years. ...
TalkTalk scam victims say it’s time for answers image
Source : Guardian [Read Article] Saturday 18th of February 2017 06:59:33 AM
.... Usually these frauds hit all bank customers equally, but not in this case – at least according to our postbag. It raises questions about whether the scammers have managed to find a way to exploit Santander’s online banking system using stolen TalkTalk details. ...
Treasury plan may allow RBS to avoid selling 300 branches image
Source : Guardian [Read Article] Friday 17th of February 2017 09:29:15 PM
....”. The Treasury put forward a four-pronged proposal aimed at making the banking market for small businesses more competitive:. ...
How Donald Trump became Deutsche Bank's biggest headache image
Source : Guardian [Read Article] Thursday 16th of February 2017 12:31:47 PM
.... Controversially approved by then first minister Alex Salmond and the Scottish government, it would be the “world’s greatest golf course”, Trump said. It was what happened next that strikes many in the banking world as unusual – bizarre, even. ...
Deutsche Bank examined Trump's account for Russia links image
Source : Guardian [Read Article] Thursday 16th of February 2017 12:31:00 PM
....A source familiar with Deutsche Bank’s internal review said it came after Trump’s bid to become US president made him a politically exposed person. Under banking regulations, PEPs undergo tougher scrutiny than regular clients because of their proximity to government. ...
Trump's changed stance on Nato, will he sober up about IMF and WTO? | Barry Eichengreen image
.... Even a president committed to putting “America first” now seems to recognise that a framework through which countries can pursue shared goals is not a bad thing. The question now is whether what is true for Nato is also true for the International Monetary Fund, the World Bank, the World Trade Organisation, and the Basel committee on banking supervision. ...
Senators grill Janet Yellen on Republican plans to neuter Dodd-Frank Act image
Source : Guardian [Read Article] Tuesday 14th of February 2017 05:35:18 PM
.... The senator asked Yellen whether it was true that banks were not lending as a result of the legislation, brought in to curb risky lending after the financial crisis. On Tuesday Warren also sent letters to the White House, Department of Labor and Financial Services Roundtable to ask what role, if any, banking industry lobbyists had played in the development and drafting of Trump’s recent executive orders on financial regulation. ...
Steven Mnuchin, former Goldman Sachs exec, confirmed as treasury secretary image
Source : Guardian [Read Article] Tuesday 14th of February 2017 12:50:03 AM
....Mnuchin, who served as Trump’s campaign finance chairman, was accused by Democrats of overseeing a “foreclosure machine” while at the helm of OneWest bank from 2009 to 2015. Senator Sherrod Brown, an Ohio Democrat who sits on the banking, housing and urban affairs committee, said Wall Street had received a signal that “now there’s no sheriff in town”. ...

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