Banking And Finance NEWS

HSBC agrees to settle French tax evasion case for €300m

HSBC is to pay €300m (£266m) to French authorities in order to settle a long-running investigation into tax evasion by French customers of the bank, according to BBC News. The allegation from the … Continue reading “HSBC agrees to settle French tax evasion case for €300m”


World Bank President issues warning on robot workers

President of the World Bank Jim Yong Kim has said the world is on a “crash course” as millions of jobs become automated, according to BBC News. The chief said that policymakers need … Continue reading “World Bank President issues warning on robot workers”


Big banks lease Frankfurt offices as Brexit contingency

Speculation that London could lose out on its status as a global financial hub post-Brexit has taken a tangible turn as several major banks have agreed leases in the city’s competitor hub, Frankfurt. … Continue reading “Big banks lease Frankfurt offices as Brexit contingency”


France seeking veto over post-Brexit UK clearing houses

France is seeking to give European Union regulators a veto over how Britain supervises Euro-denominated trades in UK-based clearing houses after Brexit. In June, a draft law was prepared by the European Commission … Continue reading “France seeking veto over post-Brexit UK clearing houses”


Investment advisory costs rise 17% in three years

Asset management has become less profitable as investment advisory costs rise while management fees fall, according to a new report from fund research body Fitz Partners. According to the ‘Investment Advisory Fee Benchmarking … Continue reading “Investment advisory costs rise 17% in three years”


Millennials Reject Workplace Pension Opt Out

Millennials have embraced the new automatic enrolment in a workplace pension, according to research by Royal London. A survey found that 71% of Millennials decided not to opt out of the plan. A … Continue reading “Millennials Reject Workplace Pension Opt Out”


UK inflation reaches highest rate for more than three years

The fall in the value of the pound is increasing the cost of food and fuel, pushing inflation to the highest rate since September 2013. The Office for National Statistics (ONS) reported on … Continue reading “UK inflation reaches highest rate for more than three years”


Surprise dip in UK inflation but factory gate prices accelerate

UK consumer prices rose at a slower annual rate in October than they did in September, the Office for National Statistics (ONS) said on Tuesday. The Consumer Prices Index (CPI) rose by 0.9% … Continue reading “Surprise dip in UK inflation but factory gate prices accelerate”


RBS to compensate small firms in GRG

Royal Bank of Scotland said on Tuesday that it will compensate up to 12,000 small business customers that were transferred to its former Global Restructuring Group (GRG). The bank has set aside £400m … Continue reading “RBS to compensate small firms in GRG”


Businesses urged to get ready for 12-sided pound coin

The UK Government and Royal Mint have launched a campaign to raise awareness of the new one-pound coin amongst retailers and other major businesses. On Monday a new website was launched at http://www.thenewpoundcoin.com, … Continue reading “Businesses urged to get ready for 12-sided pound coin”


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