Financial

Financial

Labour MP wants regulator to review ATM funding changes

A Labour MP is calling for a review of the decision to change how free ATMs are funded, claiming it could create a “cash machine desert” in some areas.

Financial 1
The financial giant was formed through the merger of Standard Life and Aberdeen Asset management. Picture: Graham Flack

Standard Life Aberdeen blow as Lloyds ends major contract

Standard Life Aberdeen has seen its shares come under pressure after Lloyds Banking Group said it was ending a £100 billion asset management contract for its Scottish Widows business.

Financial 3
A 3d rendering of a gold Bitcoin

Jim Duffy: As markets plunge, crypto investors are rightfully smug

As the US stock market hits ­“correction” levels and I watch the value of my self-invested personal pension plummet like a stone, losing months of growth in just a few days, I can now see why the new age investors in crypto currencies feel a little smug.

Opinion 2
Open banking will stimulate innovation and increase competition, Mival believes. Picture: Jon Savage.

COMMENT: Open banking a big challenge and opportunity, says Pinsent Masons

Open banking in its simplest term means the opening up of access to bank account data and ­enabling innovative means of initiating payments, which have the potential to ­revolutionise how we interact with banks and financial services providers.

Financial
Like everything when we look under the bonnet, all is not as it seems, according to Duffy. Picture: Ian Rutherford.

COMMENT: Don’t blame the banks for reckless borrowing, says Jim Duffy

I can feel another “let’s blame the banks” crusade coming on.

Financial

RBS announces stay of execution for 10 local branches

RBS has announced that 10 of its branches in rural Scotland are to be given a stay of execution and will remain open until at least the end of the year.

Financial 105
UBS Wealth Management says its new Edinburgh headquarters will become the flagship office for the business outside London. Photograph: Michelle Limina/AFP/Getty Images

UBS wealth managers to open flagship office in Edinburgh

The wealth management arm of financial services giant UBS has revealed major investment in Edinburgh as it prepares to move to a larger site in the city where it is looking to double its headcount.

Financial 2
The Financial Ombudsman Service has advised holidaymakers to check the small print on their insurance policies. Picture: TSPL

Alcohol ‘may lead to rejection of holiday insurance claims’

People booking holidays are being reminded insurance claims made for mishaps while they are away could be turned down if they have been drinking too much alcohol.

Travel
RBS Bothwell is among 62 branches set to close across Scotland

RBS workers joked about letting customers ‘hang themselves’

RBS employees in a controversial small business unit joked about letting customers “hang themselves”, newly published memos reveal.

Politics 5

RBS bosses refuse U-turn on Scotland branch closures

Banking regulations may have to be changed to make sure rural communities are not left without vital services, the SNP’s Westminster leader has said after RBS executives rejected calls from MPs to reconsider a wave of branch closures.

News 32
Sales of Buckfast increased during the last financial year

Buckfast sales shoot up as monks’ profits reach £43m

Sales of Buckfast have rocketed as the company that produces the drink reported pre-tax profits increasing by more than £750,000.

News 5

Video: Why Scottish bank notes are not legal tender

We hate to break it to you, but Scottish bank notes are not, nor ever have never been, legal tender.

Financial 34
HSBC has said it is on course to move up to 1,000 jobs to France. Picture: Getty Images

‘Point of no return’ looms for financial services sector

Britain’s banks, insurers and asset managers are bracing themselves for the “point of no return” amid concerns that thousands of jobs could be set to leave the UK.

Financial
FCP Property Development Fund has appointed industry stalwart Matthew Edgar (right), a longtime adviser to Mike Welch (left). Picture: Stewart Attwood.

Advisory firm launches property division

An investment advisory firm co-founded by tyre entrepreneur Mike Welch has launched a property fund in a bid to fill a gap in the market.

Financial
Anger over the actions of RBS, which remains 72 per cent owned by the taxpayer, has been a common reaction to closure notices. Picture: Michael Gillen

Martyn McLaughlin: Banks should be forced to justify every closure

After the latest raft of RBS closures, the public deserves to be given a detailed analysis to support the decision behind shutting down each branch, says Martyn McLaughlin

Opinion 17

SNP’s Ian Blackford demands Theresa May show ‘leadership’ on RBS closures

The SNP Westminster Leader has called on the Prime Minister to “show some leadership,” and stop RBS bank closures in Scotland.

News 34
Saltire flag

Bill Jamieson: Investors put trust in Scotland’s canniness

What’s in an investment name? One of the daunting challenges for retail investors is trying to discern from the lists of hundreds of funds and investment trusts what on earth the names stand for and what the fund does.

Opinion
The FCA has defended its handling of a RBS report (Photo by Dan Kitwood/Getty Images)

Financial watchdog defends handling of RBS small businesses report

The UK’s financial watchdog has defended its handling of a report into Royal Bank of Scotland’s treatment of small business customers following claims it failed to publish the document over fears of being sued.

Financial
RBS are closing 62 branches, including the only existing bank on the Isle of Barra.

Barra will get to keep RBS ATM, but branch closure going ahead

The Royal Bank of Scotland will keep an ATM on the Isle of Barra as they push ahead with closing the remote location’s only bank.

Inverness, Highlands & Islands 3
Richard Leonard wants RBS closures halted

Richard Leonard in Holyrood motion to halt RBS closures

Labour leader Richard Leonard has lodged a Holyrood motion calling on MSPs to back a campaign opposing widespread RBS local branch closures.

Politics 41
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