Breaking banks
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18 May
PayPal takes another step towards becoming a bank with iZettle acquisition
PayPal has bought mobile payment company iZettle for a whopping $2.2 billion — taking the company a step closer to becoming a fully fledged bank.
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16 May
Carillion collapse: Lawmakers suggest the UK’s big four accountancy firms be broken up
A report by British lawmakers into the construction and outsourcing giant Carillion collapse has suggested the big four accountancy firms — KPMG, PwC, Deloitte and EY — should be broken up.
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14 May
Church investments fall from grace
Last year, the Church of England made headlines with a record return on investment, but this year’s numbers aren’t quite so holy.
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11 May
Regulators slap hefty fine on Barclays’ Jes Staley over whistleblowing scandal
UK regulators have fined Barclays Bank chief executive Jes Staley an eye-watering £650,000 ($881,000) for attempting to unmask a whistleblower in 2016.
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10 May
RBS hopes to draw line under 2008 financial crisis with $5 billion US settlement
The RBS share price has climbed at the London market open after news broke last night the bank — still majority owned by the British taxpayer — will pay $4.9 billion to the US Department of Justice (DoJ) to resolve a long-running probe.
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8 May
CYBG’s £1.6bn Virgin Money takeover bid would create largest UK challenger bank
Shares in retail bank Virgin Money leapt 7.7% as the UK stock market opened on Tuesday morning.
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4 May
The HSBC share price has skidded on a surprise pre-tax profit fall
The HSBC share price has dipped after the London-based global banking giant posted a surprise fall in pre-tax profits for the first three months of the year, which the bank’s blamed on higher costs.
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4 May
Swiss referendum on sovereign money plan set for failure, poll shows
A radical plan to overhaul Switzerland’s financial sector looks set for failure, the first opinion poll on June’s Swiss referendum has shown.
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3 May
“An extraordinary blunder” — Australia’s biggest bank lost 20 million account records
The Commonwealth Bank of Australia (CBA) has lost the records for almost 20 million accounts and failed to inform its customers, the bank confirmed today.
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2 May
TSB’s online meltdown: CEO Pester blunders in front of Treasury Committee MPs
Despite ten days of turmoil, banking chief Paul Pester admits that he doesn’t yet know how many customers have left because of TSB’s online meltdown.
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2 May
TSB’s online meltdown could wreck its pitch for part of the RBS £775 million giveaway
UK challenger banks Santander, Metro Bank, Clydesdale Bank, Starling and TSB are all pitching for a share of the Royal Bank of Scotland (RBS) alternative remedies package.
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2 May
Standard Chartered share price slips despite profits growing by 20%
The Standard Chartered share price has fallen despite the bank posting a better-than-expected 20% rise in pretax profit for the first three months of the year.
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27 Apr
TSB is now counting the cost of this week’s computer chaos
It’s been a week of chaos for TSB after a computer glitch left up to half of the bank’s customers unable to access their online accounts.
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25 Apr
TSB boss Paul Pester said the bank is back online… users disagree
The chief executive of UK bank TSB, which has been struggling under an online service outage since Sunday, has said his customers should be able to use TSB’s website and app again.
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24 Apr
Metro Bank share price: Investors back chairman ahead of shareholder revolt
The Metro Bank share price rose this morning ahead of a high-stakes shareholder meeting where at least one top investor is planning to vote against the reappointment of the bank’s founding chairman, Vernon Hill.
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24 Apr
Santander share price: Shares fall on 10% rise in first quarter profits
Shares in Spanish bank Banco Santander dipped at the London opening this morning after the bank posted a 10% rise in first quarter profits.
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19 Apr
Digital transformation is picking up pace in the financial services — Report
Digital transformation has improved the efficiency, innovation, and access to services for customers, according to a report out today from the London lobby group TheCityUK.
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17 Apr
Goldman Sachs smashes expectations in the first quarter
Goldman Sachs significantly exceeded expectations today as it posted its first quarter results.
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10 Apr
Footballer tax avoidance scheme could cost Premier League players up to £250 million
Some 129 top level football players face financial ruin after a tax avoidance scheme popular with the rich and famous went bad.
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9 Apr
The Deutsche Bank share price climbs after it replaces CEO John Cryan
The Deutsche Bank share price has jumped at the market open in Frankfurt this morning after the bank announced last night it had sacked its chief executive John Cryan.
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5 Apr
How India became the world’s fastest growing economy
India’s economy was re-crowned the world’s fastest growing economy this year, with economic growth forecasts of 7% to 7.5% for 2018/2019.
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3 Apr
Spotify’s unusual IPO: What investors and experts think
Music streaming company Spotify is making its debut as a publicly listed company on the New York Stock Exchange today, hoping to fund a move away from music and into other areas.
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19 Mar
Daily Mail publisher says cleaners will get a pay rise after nearly 100,000 sign petition over minimum wage
The publisher of the Daily Mail has said the cleaners of its its building are to get a pay rise after nearly 100,000 signed a petition protesting about their pay.
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14 Mar
The UK could ditch copper coins because no one uses them
The British Treasury is considering phasing out 1p and 2p coins as people are shifting from cash to contactless and card payments.
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8 Mar
Thailand has unveiled its new banknotes and Canada will shortly follow suit
Canada will follow Thailand today in unveiling new banknotes, after the Southeast Asian nation announced that King Maha Vajiralongkorn will be replacing his late father King Bhumibol Adulyadej on all future Thai Baht currency.
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27 Feb
Norway’s sovereign wealth fund doubled its investment returns last year
Norway’s sovereign wealth fund, the world’s largest, made its biggest gains on record in 2017, with returns equivalent to $131 billion.
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27 Feb
Standard Chartered resumes dividend payouts as profit soars
London-based bank Standard Chartered has reported its profits climbed in 2017, allowing the bank to restart dividends at 11 cents per share, after shareholders saw no returns in 2016.
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27 Feb
5 things we learnt from Warren Buffett about the market and the US economy
There are few individual people the market listens to as closely as it does to Warren Buffett.
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23 Feb
China seizes control of embattled insurance giant Anbang
Chinese insurance regulators have seized the Anbang Insurance Group in a sign that Beijing is cracking down on financial risk to rein in the country’s spiralling debt.
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23 Feb
RBS shares fall after the bank posts its first profit in a decade
Royal Bank of Scotland (RBS) — which was bailed out during the 2008 financial crisis and is still 71% owned by the British taxpayer — has made an annual profit for the first time in ten years.