A HSBC banker in charge of responsible investing has been targeted by green activists after criticising the “apocalyptic” tone of the climate debate. Stuart Kirk, the global head of responsible investments at HSBC Asset Management, said at a City event that throughout his 25-year career in finance “there was always some nut job telling me about the end of the world”. …
HSBC’s biggest investor has demanded that the bank split off its western business and focus on China, in the latest geopolitical tussle to rock the lender. Chinese insurance giant Ping An, which owns 9.2pc of the business, is said to have presented the break-up plans to Mark Tucker, HSBC’s chairman, and chief executive Noel Quinn.…
More than 100,000 British companies are to sue Mastercard and Visa over claims they charge fees on corporate credit cards at up to six times the maximum level. A class action claim will be filed on Thursday with the Competition Appeal Tribunal (CAT) by boutique law firm Harcus Parker, on behalf of travel and hospitality…
The United States, Britain, Europe and Canada blocked ‘certain’ Russian banks from accessing the Swift international payment system as part of another round of sanctions against Moscow. It came with a pledge to limit “Golden Passport” programs allowing Russians to obtain citizenship by investment. The measures, which will also include restrictions on the Russian central…
Santander is racing to reclaim £130m after tens of thousands of customers woke up to a surprise bonus in their accounts on Christmas Day. The bank is hoping to recover the cash from rivals after about 75,000 people and businesses wrongly received their wages or supplier payments for a second time on December 25. The…
Santander has lost its battle with the high-profile banker Andrea Orcel after it was ordered to pay him €68m (£58m) for retracting a job offer. The Spanish lender, which has a large UK branch network, offered the UBS banker its chief executive job in late 2018 after he had spent more than two decades advising…
A digital lender has become the first UK bank to move to a four-day week, marking the clearest sign yet of a permanent shift in working habits after the pandemic. Atom Bank, which has 430 employees and is based in Durham, introduced the policy after a majority of its staff backed the move. The changes…
The immigrant co-founders of a security company who grew their business into a £25m turnover operation have been named black British businesspeople of the year at a virtual ceremony on Thursday. Edgar Chibaka and Jamal Tahlil received the top prize at this year’s Black British Business Awards, which celebrate the achievements of some of the…
