Edition:
United Kingdom

Lawrence White

Banks reap $1 billion from U.S. mortgage bond trading boom

2:26pm BST

LONDON Global banks earned $1 billion from trading government-backed U.S. mortgage securities in the first half of 2019, data shows, a fivefold increase on last year for what industry sources say is the fastest growing revenue source in investment banking.

RBS investors call on new boss Rose to shrink NatWest Markets

09 Oct 2019

LONDON With weeks to go until Alison Rose takes over as CEO of Royal Bank of Scotland , shareholders are demanding a shake-up of the state-backed lender, with cuts to its minnow investment bank topping their agenda.

The end of Libor - the biggest banking challenge you've never heard of

08 Oct 2019

LONDON On June 30, British bank NatWest sent out an arcane-sounding press release - bus operator National Express had become the first company to take out a loan based on Sonia, a replacement for scandal-hit interest rate benchmark Libor.  

Metro Bank shares up more than 30% on new bond deal, chairman's exit

02 Oct 2019

LONDON Shares in troubled British lender Metro Bank rose by more than 30% on Wednesday after it announced the successful relaunch of a 300 million pound bond deal and the exit of its chairman and founder Vernon Hill.

African mast operator Helios Towers launches up to $1.8 billion London IPO - source

02 Oct 2019

LONDON African mobile networks operator Helios Towers Ltd priced its initial public offering at 115-145 pence per share on Wednesday, a source familiar with the matter told Reuters, implying a total valuation of $1.42 billion to $1.79 billion.

Exclusive: Fintech firm Revolut to hire 3500 staff in global push with Visa

30 Sep 2019

LONDON British-based digital banking app Revolut is set to hire around 3500 staff as it expands into 24 new markets thanks to a new global deal with payments giant Visa Inc , the two companies said on Monday.

Woodford listed fund seeks to invest more in unquoted stocks

30 Sep 2019

LONDON Woodford Patient Capital Trust (WPCT) wants to boost investment in unlisted stocks and move away from daily pricing of its net asset value, it said on Monday, as it reported a 21% drop in its value since the end of June.

HSBC flips crime-spotting tool to scope new business

27 Sep 2019

LONDON, Sept 27 British bank HSBC has converted a financial crime-spotting algorithm it was forced to build in the wake of a money-laundering scandal into one that can scope out new business opportunities, bank executives said.

With guts and Gats, Wales eye first World Cup win

13 Sep 2019

LONDON Wales cemented their position as genuine World Cup contenders last month when they beat England to top the World Rugby rankings for the first time, capping an impressive run this year that also included a Six Nations Grand Slam.

Upset-merchant Gatland eyes one last heist with Wales

13 Sep 2019

LONDON George W. Bush was the U.S. President, the Beijing Olympics were months away and Lehman Brothers was still solvent when Warren Gatland unveiled his debut coaching selection for Wales in the 2008 Six Nations against England.

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