Financial

Financial

RBS boss: Brexit will cause City job losses

The damage to the City from Brexit is “going to be quite considerable over time” and will result in job losses, the chairman of RBS has warned.

Financial 48
The Bermuda-headquartered company said the natural disasters are already affecting rates

Hiscox facing $225m claims due to Irma and Harvey

Insurer Hiscox has outlined the impact of hurricanes Harvey and Irma, believing that the natural disasters will cost it about $225 million (£168m) in claims.

Financial
Stuart Lunn, CEO and co-founder, LendingCrowd. Picture: Stewart Attwood Images

Interview: LendingCrowd chief on competition and collaboration with finance giants

A career as an analyst wasn’t enough for LendingCrowd’s co-founder Stuart Lunn when the banking crisis left firms crying out for funds.

Financial
The view of St Andrew Square from the Harvey Nichols roof terrace.

The transformation of St Andrew Square

In the 1780s St Andrew Square was probably the most fashionable address in Edinburgh’s New Town.

Management
The insurance market has begun paying out on the recent hurricanes

Bill from huge US storms adds up for Lloyd’s of London market

Insurance market Lloyd’s of London has begun paying “significant amounts” to those affected by storms Harvey and Irma, and is estimating its total costs for the natural disasters to come in at around $4.5 billion (£3.3bn).

Financial
Scottish Widows staff will be affected. Picture: Lisa Ferguson

“Betrayal” as Lloyds outsources Scottish Widows staff

Banking giant Lloyds has been accused of “betrayal” after telling staff that 1,000 jobs are to be outsourced.

News 2
Niall Kennedy is portfolio director at Cazenove Capital in Edinburgh.

Niall Kennedy: Five myths about ethical investing

Sustainable investment is shrouded in misconception, says Niall Kennedy.

Promoted content
From left: Kent Mackenzie of Deloitte, Michael Young of MBN, Susan Ramonat of Spiritus and Ross Laurie of Deloitte. Picture: Stewart Attwood

Blockchain conference poised for return to Edinburgh

Edinburgh will next month host the second annual summit for professionals engage in the burgeoning field of blockchain technology and research.

Tech
The headquarters of the Bank of England. Picture: Peter Macdiarmid/Getty Images

BoE insists on extra capital buffers amid debt bubble

UK banks will have to earmark an additional £10 billion to help insulate them against consumer credit losses after the Bank of England (BoE) warned that lenders are “underestimating” soaring household debt.

Financial
Ross McEwan, Chief Executive of The Royal Bank of Scotland Group photographed at the RBS headquarters in St Andrew Square, Edinburgh

Interview: Ross McEwan, RBS chief executive

Straight-talking New Zealander Ross McEwan has been at the helm of Royal Bank of Scotland since 2013, working to try and rebuild its tattered reputation and repay the £45bn of public money required to stop it going bust in 2008. The bank is getting there, he tells Janet Christie, but there is much still to do

Financial 2
Co-op Bank will formally end its relationship with the Co-op Group in 2020. Picture: Rui Vieira/PA Wire

Co-op Group sells final 1% stake in troubled Co-op Bank

The Co-operative Group has revealed it no longer holds any stake in the troubled Co-op Bank after offloading its 1 per cent holding.

Financial 1
LendingCrowd CEO Stuart Lunn, right, with head of origination Adrian Innes. Picture: Stewart Attwood

P2P lender LendingCrowd targets growth in Scotland

A peer-to-peer (P2P) SME lender that says it is the only one of its kind to be based in Scotland has reported a record August and has made a senior hire as it looks to grow north of the Border.

Financial
The accounting regulator found no evidence of misconduct at KPMG. Picture: Getty Images

Martin Flanagan: KPMG cleared of failing to twig HBOS woes

So, KPMG has been cleared by the accountancy industry watchdog of any wrongdoing in its 2007 audit of HBOS in the run-up to the bank’s collapse into the arms of Lloyds Banking Group when the bank ran out of money, management nous and regulatory credibility.

Financial 3
BoS says the claim is 'without merit'. Picture: Julie Howden

KPMG cleared of wrongdoing after probe into HBOS audit

KPMG has been cleared by the accounting watchdog over its auditing of HBOS in the run-up to the lender’s near collapse in the 2008 financial crisis.

Financial 3
The Bank of Scotland in Fortrose has closed its doors for the final time. Picture: Google

The Black Isle loses its last remaining bank branch

A large swathe of the Highlands has been left without a bank branch for the first time in two centuries.

Financial
Next month marks the fifth anniversary of the auto-enrolment pensions launch. Picture: John Devlin

‘Overwhelming support’ for auto-enrolment pension schemes

The return of “paternalistic employers” has been hailed in a new report ahead of the fifth anniversary next month of pensions auto-enrolment.

Financial
Lending has fallen sharply since the banking crisis. Picture: Jon Savage

Slump in lending to businesses dents economic recovery

Bank lending to the private sector has slumped by a fifth since the financial crisis, hampering the return to economic growth, a new study today warns.

Markets Economy

New £10 Jane Austen banknote goes into circulation

A new £10 banknote celebrating Jane Austen has entered circulation and will start to show up in people’s pockets in the coming days and weeks.

Politics 3
Jayne-Anne Gadhia cautioned over the 'uncertain' outlook. Picture: Neil Hanna

Virgin Money boss warns of risk from cheap personal loans

Virgin Money’s chief executive has warned that cheap personal loans could threaten the financial system as the banking sector marks ten years since the demise of Northern Rock.

Financial 4
Ten years on from the run on Northern Rock, Martin Flanagan says 'time has not lent the crisis softer hues'. Picture: Peter Macdiarmid/Getty Images

Martin Flanagan: Northern Rock was just start of crash

We thought the queues forming round the block to withdraw money from the teetering Northern Rock ten years ago were a financial crisis.

Financial
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