BNP Paribas bankers left traumatised by their boss’s ’emotional terrorism’

Most workers who cost their company hundreds of thousands of pounds are likely to expect a sharp rebuke from the boss – particularly in the charged atmosphere of a trading floor. But one employee at BNP Paribas was left so traumatised... Read more

Santander reduces branch opening times to less than six hours a day

Santander branches will be open for less than six hours a day from July in another blow to communities that have seen in-person banking services dwindle over the past decade. The changes mean customers will only be able to visit... Read more

Bankers left traumatised by their boss’s ’emotional terrorism’

Most workers who cost their company hundreds of thousands of pounds are likely to expect a sharp rebuke from the boss – particularly in the charged atmosphere of a trading floor. But one employee at BNP Paribas was left so traumatised... Read more

Santander slashes branch opening times to less than six hours a day

Santander branches will be open for less than six hours a day from July in another blow to communities that have seen in-person banking services dwindle over the past decade. The changes mean customers will only be able to visit... Read more

Venture capitalist Stefan Glaenzer denies sexual assault charge

The venture capitalist Stefan Glaenzer has denied sexually assaulting a woman bending over a dishwasher in a hearing at Westminster Magistrates Court. Mr Glaenzer, 60, is accused of thrusting himself at the woman as she bent over the appliance at... Read more

Banks prepare to slash mortgage lending over fears borrowers will default

Borrowers with large deposits are particularly at risk, as banks plan to pull back lending most sharply for those with a loan-to-value ratio of 75pc or less. By contrast lenders expect to keep making more cash available for those with... Read more

French lender SocGen sells Russian bank stake to sanctioned oligarch

A French investment bank is taking a €3.1bn (£2.6bn) hit from selling its Russian unit to a company founded by a sanctioned oligarch. Société Générale (SocGen), one of France’s oldest lenders, said it will offload its entire stake in Rosbank... Read more

Work half the week from home, French bank tells staff

France’s largest bank has told its 132,000 staff they can continue working from home until 2024 as lenders race to prevent staff from quitting post-pandemic.  BNP Paribas has told workers across Europe they can stay at home for two and... Read more

Barclays investors round on chief after ‘embarrassing’ $15bn market gaffe

Barclays’ chief executive has come under fire by its top shareholders following an “almighty c–k-up” over a $15bn (£11bn) trading gaffe which the bank said would cost it £450m. Investors said the mishap was “embarrassing” for the bank’s chief executive... Read more

Banks ‘boost their profits’ as they deny savers billions of pounds in interest

Savers are losing £5.88 billion a year because banks are refusing to pass on higher interest rates to their customers. In another blow to households already grappling with rising living costs, banks have failed to pass on a succession of... Read more

Goldman chief’s festival DJ set shows how arts still favours the privileged

He is inspiring many by getting to the top of corporate America and still setting his own tune, swapping his suit for a t-shirt and turntables and showing excitement for something outside of his day job. Why not throw yourself... Read more

Competition and Markets Authority cedes control of open banking unit after string of scandals

The competition regulator has relinquished its oversight of Britain’s open banking unit to the City watchdog after it faced harsh criticism following a string of scandals.  The Financial Conduct Authority will lead a new committee, alongside the payments regulator, that... Read more

Extinction Rebellion-backing hedge fund chief hits out at ‘greenwashing’ bank bosses

Ministers have stressed that oil and gas drilled in UK waters will be a “transition fuel” to power the country until more renewables come on stream. InfluenceMap’s analysis found that JP Morgan was the biggest enabler of fossil fuel financing... Read more

BNP Paribas lawyer who kept his job after calling Asian colleague ‘Hu She’ leaves French bank

A senior lawyer at BNP Paribas has left the bank just months after he was told he could keep his job despite calling an Asian colleague “Hu She”.  In an email to staff on Monday night, the bank announced that... Read more

Russia’s economy ‘in crisis’ as banks formally cut out of Swift

The EU has ordered Swift to disconnect Bank Otkritie, Novikombank, Promsvyazbank, Bank Rossiya, Sovcombank, Vnesheconombank and VTB Bank, though other institutions including Gazprombank and Sberbank are still able to use the messaging system as they are needed for European nations... Read more

What a Russian debt default would mean for the world

Has Russia defaulted before? Russia has defaulted twice in recent history. The first was in the aftermath of the Bolshevik takeover in 1917, when revolutionaries refused to pay out tsarist bonds. The second was in 1998 when it restructured debts... Read more

Visa and Mastercard suspend services in Russia in further blow to Vladimir Putin and the economy

Financial giants Visa and Mastercard are suspending operations in Russia, further adding to the crippling measures targeting Vladimir Putin’s economy. All transactions initiated with Visa cards issued in Russia will no longer work outside the country and any Visa cards... Read more

Russia’s Sberbank plunges amid warnings over collapse

Shares in Russia’s biggest state-controlled lender Sberbank have plunged as much as 74pc, as the European Central Bank warned it faced collapse. London-listed shares in Sberbank hit a record low on Monday, after The Sunday Telegraph revealed that City law... Read more

City workers to keep testing despite ‘living with Covid’ plan

City bankers and traders have been told to continue weekly testing despite Boris Johnson scrapping free lateral flow and PCR tests as part of his “learning to live with Covid” plans.  The Prime Minister’s decision to bring free lateral flow... Read more

High street banks open just four hours a week in some parts of country, analysis reveals

The research found that, on average, bank branches are open for just 34 hours a week before lunchtime closing hours are included. However, rural communities can expect an average of just 29.5 hours. In south Cambridgeshire, banks are open for... Read more

Why the world cannot bank on a Swift ban for global payments system

Trade economist Dr Rebecca Harding says: “It facilitates trillions of dollars worth of financial transactions so it’s important as this enabling mechanism for world trade, but it’s effectively a postbox.” Forecasters believe Swift makes a big difference to the economic... Read more

West ejects Russia from Swift and cancels ‘golden passports’

Berlin had been one of the few countries opposing action after Britain, the European Union, Canada and the United States all pressed the case as part of their package of sanctions against Vladimir Putin and the Kremlin. “As Russian forces... Read more

Russian investment bank suspended from London Stock Exchange

Ministers will also legislate to prohibit Russian companies from raising capital on UK markets and impose sanctions against more than 100 individuals, entities and their subsidiaries. Russian nationals will also not be allowed to hold more than £50,000 worth of... Read more

The ‘super smart’ secretive trader ranked among Britain’s richest people

But despite being one of the wealthiest men in finance, little is known about the former JP Morgan trader outside of hedge fund circles.  Michael Spencer, the billionaire financier, says he has known the “super smart” trader for a long... Read more

Rise of the racist robots prompts artificial intelligence upgrades

Businesses seeking to cut costs and satisfy consumer demands for lightning-fast service are increasingly replacing people with machines in every part of the supply chain. But regulators are becoming concerned that relying on artificial intelligence could undo decades of work... Read more