Barclays settles second LIBOR lawsuit in a week
11th Apr 2014 14:05
Barclays has settled its second lawsuit in a week on allegations of LIBOR rigging. The British bank has reached a settlement with Portuguese construction and property firm Domingos Da Silva Teixeira in London's Commercial Court. The Portuguese company had filed a €11.1m case against Barclays on c
Read moreFCA ponders changes to bank overdrafts
10th Apr 2014 14:20
The Financial Conduct Authority (FCA) has proposed working with the competition regulator to ensure banks' overdraft mechanisms and fees are fairer. As overdraft fees generate a third of the revenue from personal account banking in Britain, the prospect of the financial watchdog imposing changes c
Read moreLondon close: FTSE ends with decent gains
9th Apr 2014 16:59
- FTSE 100 closes up 44.92 points at 6,635.61 - Shop prices plummet as retailers fight for business - February trade data shows UK still struggling to rebalance techMARK 2,730.00 +1.20% FTSE 100 6,635.61 +0.68% FTSE 250 16,163.70 +0.93% UK stocks ended today's session with a decent finish as impro
Read moreBarclays tops UK watchdog's complaints list
9th Apr 2014 12:32
Barclays Bank faced more controversy on Wednesday as it topped a watchdog's list of the UK's most-complained about banks, but gripes about financial service companies fell overall. Retail customers launched nearly 310,000 complaints against Barclays between July and December last year, the Financia
Read moreMetro Bank founder to launch online bank Atom
9th Apr 2014 12:22
Anthony Thomson, the founder and former Chairman of Metro Bank has unveiled plans to launch Atom, the first 'truly digital' retail and business bank. The new online bank, which is due to open in 2015, will offer both consumer and business banking. Thompson, who will take on the role of Chairman,
Read moreLondon close: FTSE ends day in red as Sports Direct drags
8th Apr 2014 16:59
- FTSE closes 32.15 points lower at 6,590.69 - Feb UK industrial production trounces forecasts - Tensions rise in Ukraine - Big Four see market share slip as discount stores increase sales techMARK 2,697.56 -1.19% FTSE 100 6,590.69 -0.49% FTSE 250 16,014.46 -1.53% UK stocks once again finished in
Read moreLondon midday: Stocks at two-week low as Sports Direct and grocers fall
8th Apr 2014 11:52
- FTSE 100 at lowest since March 24th - Ukraine tensions flare up - US stocks fall ahead of Q1 earnings season - Sports Direct sinks on Ashley share sale, grocers fall techMARK 2,697.79 -1.18% FTSE 100 6,559.14 -0.96% FTSE 250 16,015.95 -1.52% UK stocks fell one per cent by Tuesday lunchtime, tra
Read moreUK banks pay out 600m pounds for mis-selling, FCA says
8th Apr 2014 10:43
Britain's biggest banks have so far paid around 600m pounds for mis-selling interest rate hedging products, according to the UK's Financial Conduct Authority (FCA). The banks have set aside £4bn to compensate small firms. Banks including Barclays, HSBC, Royal Bank of Scotland and Lloyds Banking Gr
Read moreLondon open: Sports Direct leads markets lower, Ukraine tensions weigh
8th Apr 2014 08:31
- Ukraine tensions running high - Wall Street sell-off continues ahead of Q1 earnings - BoJ holds steady despite tax hike - Sports Direct slumps, miners gain techMARK 2,725.79 -0.16% FTSE 100 6,609.27 -0.20% FTSE 250 16,217.75 -0.28% Growing tensions in Ukraine pushed UK stocks lower on Tuesday mo
Read moreBarclays settles with UK care operator on LIBOR case
8th Apr 2014 07:29
Barclays has reached a settlement with a UK care operator over claims the bank mis-sold products linked to benchmark interest rates. The lender's employees and previous executives, including former Chief Executive Bob Diamond, had been due to testify in London's High Court on April 29th. It was s
Read moreSunday newspaper round-up: Insurance, Sports Direct, Tesco
6th Apr 2014 08:57
The Financial Conduct Authority ignored Bank of England warnings that it had created a false market in insurance shares for more than five hours, the Sunday Times writes. A newspaper report that the FCA planned a clampdown on insurance policies going back up to 30 years caused shares of Legal & Gene
Read moreBarclays, HSBC, RBS sued in US for Forex rigging
2nd Apr 2014 09:00
Barclays, HSBC and RBS are among a group of 12 banks being accused in a US class-action suit for rigging foreign-exchange (Forex) prices. The class-action lawsuit was filed late Tuesday in New York by a group of investors from across the US and the Caribbean and included city and state pension pla
Read moreTuesday newspaper round-up: Weir Group, Marks & Spencer, BT Group
1st Apr 2014 07:12
Engineering group Weir could be on the verge of a blockbuster 8.5bn pound merger with Finnish rival Metso. Like its Scottish rival it manufactures industrial pumps and valves for the global oil and gas mining markets. It is thought that Weir could be prepared to pay as much as 30 euros per share for
Read moreLondon close: Stocks finish in the red as miners, banks, Crimea drag
27th Mar 2014 16:59
- FTSE closes 16.98 points lower at 6,588.32 - Feb UK retail sales rise by more than expected - US jobless claims fall more than expected techMARK 2,763.04 -0.70% FTSE 100 6,588.32 -0.26% FTSE 250 16,202.17 -0.31% Stocks ended Thursday's session broadly lower as both the banking and mining sectors
Read moreFTSE 100 movers: Standard Life rises on Ignis deal
26th Mar 2014 15:24
Standard Life was making decent gains after agreeing on a deal with Phoenix Group to sell the latter's Ignis Asset Management division. Standard Life said the 390m pound acquisition will enhance earnings from the first full year of ownership. RSA is holding near the top of the leaderboard, part of
Read more