UK Banking

7 Dodgy Things RBS Would Rather You Didn't Notice In Its 'Whitewash'

The Huffington Post UK | Asa Bennett | Posted 17.04.2014 | UK Politics

The Royal Bank of Scotland welcomed a report it commissioned by Clifford Chance which found "no evidence" that it tried to systematically defraud smal...

RBS Cleared Of Defrauding Small Firms

The Huffington Post UK | Asa Bennett | Posted 17.04.2014 | UK Politics

The Royal Bank of Scotland has been cleared of systematic fraud by a report it commissioned into the conduct of its business support division, after c...

Co-Op Bank Just Made A MASSIVE Loss... And It Won't Get Better Soon

PA | Posted 11.04.2014 | UK Politics

The Co-op banking arm reported a £1.3 billion annual loss today as it warned its legacy issues will continue to hit its financial performance for som...

Financial Regulators Must Show They Mean Business

Richard Lloyd | Posted 01.04.2014 | UK
Richard Lloyd

If the industry doesn't get things right they only need to look to other failing markets to see what might be in store. With the referral of the energy market to the competition commission last week, Which? wants wider recognition that radical action is needed when competition is failing and markets aren't working for consumers.

Is Integrity the Key Ingredient for Financial Services?

Dr Joseph Zammit-Lucia | Posted 28.03.2014 | UK
Dr Joseph Zammit-Lucia

In the UK and elsewhere, the financial services industry is in the eye of the storm. The industry probably accounts for around 9.5% of UK GDP. Yet in the wake of the financial collapse, seemingly never-ending penalties for mis-selling and market manipulation and the continuing public outrage over bankers' compensation, many have come to believe that the industry is both rotten to its core and has become totally dissociated from the society which it is supposed to be serving.

Transforming Banking at Its Core to Embrace the Digital Opportunity

Tony Virdi | Posted 26.03.2014 | UK Tech
Tony Virdi

This personalised, mobile, social experience can only occur if the banking and financial services industry continues to transform its technology platforms and solutions, with the ultimate aim being channel integration and embracing the digital opportunity.

A Banking System Fit for Purpose

European Parliament Web Team | Posted 24.03.2014 | UK Politics
European Parliament Web Team

The crisis showed that the pivotal role of the banking system, essential for the smooth running of our economy, comes at a cost. Although bankers were the ones taking hazardous risks, it was ordinary people footing the bill, when governments used tax money to prop up failing banks. It raised the question of whether banks were there to serve people or the other way around.

Osborne Is Trying To Give The Banks A Secret Tax Cut

The Huffington Post UK | Asa Bennett | Posted 25.03.2014 | UK Politics

George Osborne slipped out a potential "secret tax cut" for Britain's biggest banks that could see them pay hundreds of millions less in tax, critics ...

All In It Together? BofE Doubles Champagne Spending In A Year

The Huffington Post UK | Asa Bennett | Posted 21.03.2014 | UK Politics

Consumption of wine and champagne at the Bank of England nearly doubled in the year Mark Carney took over, as officials bought over 300 more bottles o...

Budget 2014 Takes Doublespeak to New Depths

Molly Scott Cato | Posted 19.03.2014 | UK Politics
Molly Scott Cato

With a budget that achieves the exact opposite of the objectives the Chancellor has set himself we are all wondering what will come out of the Ministry of Truth next. A Localism Act that centralises planning perhaps; or a Big Society that cuts benefits for the poor and vulnerable?

Economy At Risk If Interest Rates Stay Low, Warns Carney

The Huffington Post/PA | Posted 19.03.2014 | UK Politics

Bank of England governor Mark Carney warned the economy faced renewed dangers from excessive borrowing as encouraged by low interest rates. Carney ...

Nationwide's Executive Pay Remains a Disgrace

Ian Lucas | Posted 11.03.2014 | UK Politics
Ian Lucas

The furore over the executive pay levels of senior Co-op employees hits those of us who believe in mutuality hard. We are Co-op members because we believe it does things differently. We must now wake up to what happens in the organisations we own.

UK Bankers 'Disappointed' With Their MASSIVE Bonuses

The Huffington Post UK | Asa Bennett | Posted 11.03.2014 | UK Politics

City of London bankers were "disappointed" with the size of their bonuses this year, despite a survey finding that UK bankers enjoyed the biggest bonu...

Co-Op Boss Quits 'Ungovernable' Group

The Huffington Post/PA | Posted 11.03.2014 | UK Politics

Co-operative Group chief executive Euan Sutherland's resignation has been accepted by the board, after offering to quit as chief executive of the grou...

5 Ideas Labour Said They'd Pay For With The Same Bank Bonus Tax

The Huffington Post UK | Asa Bennett | Posted 10.03.2014 | UK Politics

Labour has unveiled an extended jobs guarantee for young people, which would run for five years if the party returns to power, with the pledge funded ...

Lloyds Chief To Dodge EU Bank Bonus Cap With £900k 'Allowance'

The Huffington Post/PA | Posted 05.03.2014 | UK Politics

Lloyds Banking Group is to hand boss Antonio Horta-Osorio a £900,000 shares allowance this year on top of his salary and potential bonus as it looks ...

Barclays CEO: We Must Pay Big Bonuses 'To Avoid Death Spiral'

The Huffington Post UK | Asa Bennett | Posted 05.03.2014 | UK Politics

Barclays needed to pay its top bankers bigger bonuses in order to avoid investment bankers quitting and sending the bank into a "death spiral", accord...

Banks Must Catch the Innovation Bug

Nasir Zubairi | Posted 05.03.2014 | UK
Nasir Zubairi

Although I agree that Banks and Financial technology firms should be looking to partner and work together where possible to improve the proposition for customers, I don't necessarily believe that this strategy will make banks more innovative and provide better services for you, I and our businesses...

Is Ethical Banking an Oxymoron?

Ian Middleton | Posted 03.03.2014 | UK
Ian Middleton

On the day that Royal Bank of Scotland announced a bonus payout to it's staff of £588million in spite of an operating loss of £8.24billion, one had to wonder if any lessons were really learnt from the mess that was left after the banking crash only a few years ago...

Branson's Bankers Set For Bumper Bonuses

The Huffington Post UK | Asa Bennett | Posted 03.03.2014 | UK

Virgin Money, Sir Richard Branson's banking division, will become the latest financial institution to say it is going to pay its bankers double their ...

Rogue Foreign Banks Could Be Kicked Out Of The City

The Huffington Post UK | Asa Bennett | Posted 26.02.2014 | UK Politics

The Bank of England could ban foreign banks branches in Britain from the City of London if they fail to adhere to British standards of regulation. ...

New UK Banking Act: A Missed Opportunity to Make Banks Socially Responsible

Prem Sikka | Posted 26.02.2014 | UK Politics
Prem Sikka

Some six years after the banking crash, there is little sign of any major reform. The UK's Banking Reform Act is a disappointment and at one stage was described by the chair of the Parliamentary Commission on Banking Standards as "virtually useless".

Stop Taxing Us So Much, Banks Urge Osborne

The Huffington Post UK | Asa Bennett | Posted 25.02.2014 | UK Politics

George Osborne has come under pressure to end the bank levy, as Britain's banks warned that the tax is hurting the City of London's competitiveness. ...

HSBC Reveals How It'll Dodge The EU Bank Bonus Cap

The Huffington Post UK | Asa Bennett | Posted 24.02.2014 | UK Politics

Britain's biggest bank HSBC has revealed how its top bankers will continue to enjoy soaring pay packets despite the European Union cap on bonuses. ...

State-Owned RBS Could Slash Up To 30,000 Jobs

The Huffington Post/PA | Posted 21.02.2014 | UK

As many as 30,000 jobs are to go at Royal Bank of Scotland over the next few years as part of plans to shrink the bailed-out bank, it was reported tod...