7 h. ago Financial services firms paid £236m of redress in second half of 2024 – FCA

One financial services expert said a fall in complaints being recorded could reflect the positive impacts of the regulator’s Consumer Duty on firms.

Economics

3 d. ago UK’s Financial Services Execs Plan to Increase Investments in London based Operations – Report

UK’s Financial Services Execs Plan to Increase Investments in London based Operations – Report  Crowdfund Insider

Economics

6 d. ago ‘You don’t expect your own children to do this’: Ray’s shocking tale of elder abuse and the son who stole $230,000

Experts call for redesign of financial services and improved Centrelink processes to protect older Australians from fraudGet our afternoon election email, free app or daily news podcastThe fraud began when Ray Baird, then 65, asked his son Peter for help dealing with the bank. In the years that followed, Peter gained access to his dad’s bank accounts, diverted Ray’s aged pension to his own bank account and ran up debts in his father’s name that led to two caveats being put on Ray’s home.By the time the fraud was uncovered and Ray, then 74, began to untangle the lies his son had spun, Peter had taken more than $230,000 from him, including seven years of pension totalling $152,423.33. Continue reading...

Events

9 d. ago The May elections are a perfect opportunity for Nigel Farage to peddle his politics of grievance | Andrew Rawnlsey

An unpopular government and floundering official opposition creates fertile territory for ReformFor his next trick, perhaps Comrade Farage will belt out all the verses of The Red Flag and tell us that his favourite book is The Ragged-Trousered Philanthropists. Brother Nigel has popped up on the government’s left flank by demanding the immediate nationalisation of the steel industry. He’s also expressed a solidarity with trades unionists hitherto undetected in this longtime admirer of Margaret Thatcher.At an event at a working men’s club in one of the more deprived wards of County Durham, the old fraud even claimed to have a personal affinity with steelworkers because he used to be in the “metals business” himself. This was a disingenuous reference to his time as a trader at the London Metal Exchange, which involved long lunches in the City fuelled with copious quantities of port. Or maybe he was thinking of his gig as a paid “brand ambassador” for a firm that deals in gold bullion. ...

Politics

1 week ago Mapped: The Morrisons stores which have closed across the UK

The grocer said its proposals came after a “wide-ranging review” found these services were not financially viable

Politics

1 week ago Regulators approve $35bn merger of Capital One and Discover Financial

Acquisition expected to be completed on 18 May after Federal Reserve and currency comptroller sign off on dealThe pending merger between Capital One and Discover Financial services received approval from several regulators on Friday, bringing the $35bn tie-up closer to completion.The Federal Reserve and the office of the comptroller of the currency (OCC) signed off on the deal, which was first announced in February 2024. Continue reading...

Economics

2 w. ago Nigel Farage paid £40,000 by firm that helps super rich cut tax bills

Nomad Capitalist helps people obtain second residencies and citizenships, urging its clients to ‘go where you’re treated best’

Economics

3 w. ago Financial services firm that collapsed owing creditors £37m was led by Cardiff Rugby co

Neal Griffith was chief executive of Optima Worldwide Group at the time of its compulsory liquidation in 2021

Economics

3 w. ago Financial Ombudsman Service ‘increasing capacity’ to resolve 20% more cases

The organisation said it was taking action to ensure businesses and consumers received a faster, more effective dispute resolution service.

Politics

3 w. ago Climate crisis on track to destroy capitalism, warns top insurer

Action urgently needed to save the conditions under which markets – and civilisation itself – can operate, says senior Allianz figureThe climate crisis is on track to destroy capitalism, a top insurer has warned, with the vast cost of extreme weather impacts leaving the financial sector unable to operate.The world is fast approaching temperature levels where insurers will no longer be able to offer cover for many climate risks, said Günther Thallinger, on the board of Allianz SE, one of the world’s biggest insurance companies. He said that without insurance, which is already being pulled in some places, many other financial services become unviable, from mortgages to investments. Continue reading...

Events