Stay up to date with free updates Simply register for the American banks myFT Digest — straight to your inbox. The first phase of a long-awaited recovery in investment banking costs is expected to give Wall Street lenders a boost when they report second-quarter earnings this week, as mergers and debt transactions pick up after … Read more
SWITCHING BANK REGISTRATION has traditionally been an easy way to earn free money. Banks regularly offer incentives worth hundreds of pounds to new customers who switch to them for a set period. There are currently four deals active. Banks are imposing increasingly strict requirements on savers to get free moneyCredit: Getty – Contributor The offers … Read more
Britain’s biggest banks have launched a new war over mortgage prices. Barclays and HSBC cut interest rates for the second time in two weeks. Major lenders are lowering their fixed mortgage rates It could come as a relief to borrowers looking for a better deal, but given the higher interest rates, many people looking to … Read more
Stay up to date with free updates Simply register for the Chinese business and finance myFT Digest — straight to your inbox. Western financial institutions in China have cut their investment banking staff by the most in years, after a market slowdown eroded profits and halted years of expansion in the country. The cuts in … Read more
Nikolay Storonsky, founder and CEO of Revolut. Harry Murphy | Sportsfile for Web Summit via Getty Images LONDON — The chief executive of British financial technology giant Revolut told CNBC he is optimistic about the company’s chances of getting a British banking license, as the company reported record pre-tax profits for the year thanks to … Read more
Stay informed with free updates Simply register for the Global inflation myFT Digest – delivered straight to your inbox. Central banks should not cut interest rates too quickly because of the risk of a new inflation flare-up, the Bank for International Settlements has warned. Policymakers around the world are considering how quickly to ease monetary … Read more
Unlock the Editor’s Digest for free Roula Khalaf, editor of the FT, selects her favorite stories in this weekly newsletter. All 31 largest U.S. banks have passed the Federal Reserve’s annual so-called stress tests, leaving regulators confident they can withstand a theoretical scenario in which unemployment rises to 10 percent during a severe recession. The … Read more
Full of dumped carpets, sofas and even beds, could this be the most fly-ridden street in Britain? Tannahill Road in Painsley, Scotland, was once a thriving community and is now overrun with rubbish, which has angered residents and created a breeding ground for rats. Although the abandoned housing estate, located in the Ferguslie Park area, … Read more
LONDON — British fintech company Zilch said Wednesday it has raised $125 million in debt financing from German banking giant Deutsche Bank in a deal that will help the company triple revenue in coming years and move closer to an initial public offering. The company, which offers shoppers the ability to purchase items and pay … Read more
As banks around the world struggle to find the right balance between flexibility and authority over their workforces, the CEO of British digital bank Atom has a simpler solution: eliminating the fifth working day. Speaking to the Financial times, Atom CEO Mark Mullen said the bank’s four-day working week, introduced in 2021, has been “significantly … Read more