Thursday 17 May 2012

All posts in Banking

Union inflamed by HSBC’s announcement to cut staff

Yet another bank is at the centre of controversy as it announces 3,167 employees are to be cut from the workforce. HSBC is on the receiving end of the wrath of Unite and other unions throughout the UK. The bank’s …

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PPI claims still plaguing Barclays

Just one day before their annual meeting with shareholders, it has been projected that one-fourth of the Barclay’s shareholders will protest current pay policies. As well, the bank

UK banks misselling another financial product

In recent weeks The Telegraph has been investigating allegations that UK banks have been misselling financial products to SMEs in the UK and there are growing concerns that

Fewer SMEs seeking loans for expansion

A recent survey of businesses with a staff numbering up to 250 employees has shown that UK firms are becoming more self-reliant when expanding and have refrained from

Major banks to drop debit card fees on purchase of foreign currency

After a months’ long investigation into the transaction fees UK banks have been charging debit card holders for purchasing foreign currency, the OFT released a statement that five

Chancellor backs Vickers’ report

It has come as no surprise to financial experts that Chancellor George Osborne has given his backing to parts of both the Vickers’ banking report as well as

Barclays basic bank accounts becoming inaccessible

The latest of banks to come under fire with changes being made to basic bank accounts is Barclays who has tripled their maximum charge per day if there

Banks being warned against bonuses this year

The Bank of England has advised banks to bolster their finances by limiting the amount of bonuses this year and Chancellor George Osborne has given a warning that

BOE Anticipates Requests for More Taxpayer Funds from UK Banks

With the second credit crunch in the last decade threatening an already wavering UK economy, the Financial Policy Committee (FEC) for the Bank of England (BOE) is anticipating

Banks incur more than £550m in losses due to mis-sold PPI claims

According to the Financial Ombudsman Service (FOS) approximately 90% of mis-sold payment protection insurance (PPI) claims are being honored, with claimants receiving compensation payments worth anywhere from hundreds