The U.K. government’s mandate that the Royal Bank of Scotland (RBS) allocate about $1 billion for a fund intended to give a financial boost to industry competitors has hit roadblocks that could spark controversy as the first of the funds are issued. Reports in the...
The Financial Conduct Authority (FCA) announced Tuesday (Dec. 18) that U.K. banks made more than $3.03 billion from charging overdraft fees last year. According to a report in Reuters, citing the FCA, about 30 percent of that $3.03 billion came from fees for overdrafts that...
HSBC Holdings and Standard Chartered, the two U.K. banks, have been embroiled in the Huawei Technologies scandal in which Canada arrested the company’s Chief Financial Officer Meng Wanzhou at the request of U.S. authorities, prompting China to warn Canada to release the CFO or face...
Financial Times reports that a number of banks in the U.K. have agreed to give smaller firms more power when it comes to complaints about their lenders (which include the banks) – a move that the publication said aims to “restore trust” in corporate banking....
August 06, 2018
Ironically, as the global economy has gotten stronger, payment cycles between buyers and suppliers have gotten longer. What was once an average of about 45 days from invoice to payment has increased to, on average, 66 days in the U.K. For many small and medium-sized businesses (SMBs) in this market, buyers with big brands stretch those cycles even further, […]
April 24, 2019
Masthaven, the U.K. specialist bank, and Värde Partners, a global alternative investment firm, announced Wednesday (April 24) the completion of the strategic £60 million equity investment by Värde Partners in Masthaven. In a press release, Masthaven said the agreement was previously announced in September of 2018, and that the completion of the investment will enable […]
December 18, 2018
The Financial Conduct Authority (FCA) announced Tuesday (Dec. 18) that U.K. banks made more than $3.03 billion from charging overdraft fees last year. According to a report in Reuters, citing...
December 10, 2018
HSBC Holdings and Standard Chartered, the two U.K. banks, have been embroiled in the Huawei Technologies scandal in which Canada arrested the company’s Chief Financial Officer Meng Wanzhou at the...
November 30, 2018
Financial Times reports that a number of banks in the U.K. have agreed to give smaller firms more power when it comes to complaints about their lenders (which include the...
