Banking And Finance NEWS

Clydesdale and Yorkshire Banks to merge with Virgin Money

Two major banking brands are set to disappear from the High Street following a Virgin Money takeover of Clydesdale and Yorkshire banks, according to the Guardian. The £1.7bn acquisition is expected to lead … Continue reading “Clydesdale and Yorkshire Banks to merge with Virgin Money”


Islamic banks call for UK tax reforms

Islamic finance firms are putting pressure on the UK government to reform the tax system in order to provide for their growth, according to Reuters. Islamic rules on finance prohibit interest payments and … Continue reading “Islamic banks call for UK tax reforms”


FSMB consults on ‘statement of good practice’ following Libor

The FICC Markets Standards Board (FSMB) has published draft guidance on what information traders can share, in the aftermath of the Libor rigging scandal, according to Reuters. The FSMB said the proposed guidance … Continue reading “FSMB consults on ‘statement of good practice’ following Libor”


Tax havens required to build public company ownership registers

The government has said it will support a legislative amendment which will force British Overseas Territories to create public registers of company ownership, helping to address the global system of hiding places for … Continue reading “Tax havens required to build public company ownership registers”


Lloyds pre-tax profits rise 23% as bank looks to end of PPI complaints

Lloyds Bank’s pre-tax profits rose 23% in the last year, despite pressure from PPI compensation claims according to the Financial Times. Pre-tax profits were £1.6bn, up 23% on 2017’s profits of £1.3bn. Last … Continue reading “Lloyds pre-tax profits rise 23% as bank looks to end of PPI complaints”


Australian investigation hears evidence on banking misconduct

An enquiry into alleged misconduct within National Australia Bank has uncovered a number of revelations including impersonation of clients and falsification of forms, according to the Guardian. National Australia Bank (NAB) and Australia … Continue reading “Australian investigation hears evidence on banking misconduct”


Credit Suisse CEO defends bank’s stance on sanctions

Credit Suisse’s chief executive has defended its stance on sanctions following criticism of big banks by US senators, according to Reuters. Chief executive Tidjane Thiam spoke out after two senators demanded that big … Continue reading “Credit Suisse CEO defends bank’s stance on sanctions”


TSB banking app chaos nears resolution

The TSB banking app is now up and running for customers after a disastrous five-day period of customers being locked out or experiencing problems using the service, according to BBC News. The bank … Continue reading “TSB banking app chaos nears resolution”


Banks Close In On £30 Billion Mark for PPI Repayments

The Financial Conduct Authority (FCA) updates its website with the monthly sums paid out by the banks for mis-sold payment protection insurance. Since 2011, the amount repaid to customers is close to a … Continue reading “Banks Close In On £30 Billion Mark for PPI Repayments”


HSBC settles US private Libor claims

HSBC Holdings Plc has agreed to pay $100m (£71.3m) to settle private litigation over the Libor rigging scandal in the US, according to Reuters. The bank is the fourth major company to settle … Continue reading “HSBC settles US private Libor claims”


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