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Stark warning from boss of Virgin Money: End of free banking if rates go negative By Helen Cahill, Financial Mail On Sunday Published: 21:51 BST, 17 October 2020 | Updated: 21:51 BST, 17 October 2020 The boss of Virgin Money has warned that banks could start charging for basic services if interest rates turn negative. … Read more
The concept of negative interest rates – where debtors are rewarded and thrift is punished – sounds far too crazy to be a serious policy measure. Until, that is, you consider that the biggest borrowers are governments, not least our own. Public borrowing has ballooned due to coronavirus and pushed the prospect of negative rates … Read more
Banking giant Investec has confirmed plans to axe 210 jobs from its London headquarters amid a ‘challenging economic backdrop’. The firm said it will slash around 13 per cent of roles in the capital in order to help ‘simplify and focus the business’ amid the pandemic. Investec added its performance in the five months to … Read more
NatWest banking goes DOWN across much of the UK leaving customers locked out of their accounts Customers have complained about a variety of problems with online accounts Some are unable to log in, make payments or view their accounts with the bank NatWest have confirmed the issue and said they are investigating urgently By Jack … Read more
Santander’s online banking system crashes leaving millions of customers unable to access their accounts The crash comes on the last Friday of the month – often payday for many workers It also leaves customers with a headache ahead of the bank holiday weekend The bank said its team are ‘working hard to resolve this issue … Read more
Coronavirus strikes at heart of British banking system as it wreaks havoc on finances of two of the biggest lenders Barclays hit by £3.7billion bad loans Santander UK writes off £5.4billion By Matt Oliver For The Daily Mail Published: 22:27 BST, 29 July 2020 | Updated: 22:27 BST, 29 July 2020 The coronavirus struck at … Read more
No going back: Roger Jewitt is now banking online For years, Roger Jewitt had absolutely no interest in banking online. The 70-year-old had heard horror stories of people losing thousands of pounds after their personal details were stolen by fraudsters and feared the same could happen to him. But he is now among a growing … Read more
Goldman Sachs paying Malaysia £3bn to apologise for its employees’ part in international scandal By Daily Mail City & Finance Reporter Published: 21:51 BST, 24 July 2020 | Updated: 21:56 BST, 24 July 2020 Goldman Sachs will pay Malaysia £3billion to apologise for its employees’ part in an international scandal. Its bankers were accused of … Read more
Second major investor hits out at HSBC for backing China’s crackdown on Hong Kong By Helen Cahill, Financial Mail On Sunday Published: 21:52 BST, 27 June 2020 | Updated: 22:06 BST, 27 June 2020 A second major investor has hit out at HSBC for backing China’s crackdown on Hong Kong. Hermes said it is in … Read more
Banking chief quits in sexism storm: UK Finance boss resigns over ‘unpleasant’ comments about financier Amanda Staveley Stephen Jones, chief executive of UK Finance, quit over derogatory comments Amanda Staveley has accused Barclays’s top brass of ‘sexism and misogyny’ Transcripts of two calls made by Jones were handed to the judge as evidence Yesterday judge … Read more