'Trust deficit': Morrison says middle Australia has lost faith in public sector | Australia news

‘Trust deficit’: Morrison says middle Australia has lost faith in public sector | Australia news

The Morrison government will define its plans to reform the public sector by focusing on service delivery to middle Australians and set out a timetable for banking and financial sector reforms in two major speeches on Monday. Scott Morrison, speaking to Institute of Public Administration ahead of the Thodey public service review being handed to […]

Continue Reading
Forget a 2008 Lehman Bros-style crash – this is how a ‘normal’ recession could start | Dan Davies | Opinion

Forget a 2008 Lehman Bros-style crash – this is how a ‘normal’ recession could start | Dan Davies | Opinion

There’s a hoary old proverb in the financial markets that a crisis happens precisely when the institutional memory of the last crisis has faded: when all the key chairs are occupied by people who aren’t scared any more, the same mistakes get repeated. On that basis, in the face of grim economic news around the […]

Continue Reading
Burford Capital replaces finance chief to appease investors | Business

Burford Capital replaces finance chief to appease investors | Business

Burford Capital is replacing its chairman and finance chief in an effort to appease shareholders after a US hedge fund made allegations of poor governance and murky accounting practices. Burford, which specialises in funding lawsuits in exchange for a cut of the settlements, has faced criticism over the fact that its chief financial officer, Elizabeth […]

Continue Reading
Monzo launches short-term loans for 2.5m customers | Money

Monzo launches short-term loans for 2.5m customers | Money

Digital bank Monzo is dipping its toes into the short-term loans market a year after Wonga’s collapse, but insists it will not target customers who usually turn to payday lenders. The challenger bank formally launched loans for its 2.5 million customers on Thursday, following a trial with around 4,000 of its users. Those who qualify […]

Continue Reading
NCA freezes £100m suspected to be from corruption overseas | UK news

NCA freezes £100m suspected to be from corruption overseas | UK news

More than £100m suspected to have been imported to the UK from bribery and corruption overseas has been frozen following a court order obtained by the National Crime Agency. Westminster magistrates’ court granted account freezing orders covering eight bank accounts holding in excess of £100m which is “suspected to have derived from bribery and corruption […]

Continue Reading
Low interest rates benefit millennials, not pensioners | Phillip Inman | Business

Low interest rates benefit millennials, not pensioners | Phillip Inman | Business

Savers in Denmark must be squealing with pain at the advent of the world’s first negative rate mortgage, courtesy of Jyske Bank. Danish savers currently get about 0.1% for their pots of money at the bank and soon they might find deposit-takers start charging them to protect their piles of cash. Borrowers, on the other […]

Continue Reading
Hey Google, lend me a tenner? NatWest trials voice banking | Business

Hey Google, lend me a tenner? NatWest trials voice banking | Business

Get ready to say: “Hey Google. How much do I have in my bank account?” NatWest is to begin voice-only banking that will give customers direct access to their accounts by talking to the Google Home smart speakers now in millions of British homes. The trial – the first by a UK high street bank […]

Continue Reading
The bank manager will see you now: is Monzo ready to grow up? | Money

The bank manager will see you now: is Monzo ready to grow up? | Money

Tom Blomfield doesn’t come across like the CEO of a bank. Bank CEOs aren’t usually 33. They don’t turn up for interviews in a stripy T-shirt, munching on a banana. They certainly don’t lean over to show you their current balance, mid-conversation. Blomfield actually wants to show me a feature on the Monzo app, a […]

Continue Reading
RBS to become first major British bank led by a woman | Business

RBS to become first major British bank led by a woman | Business

Royal Bank of Scotland is set to name Alison Rose as its next chief executive, making her the first woman to lead one of Britain’s major lenders. Rose, who has worked at RBS for 25 years, has long been the City’s favourite to succeed Ross McEwan, with rumours that she was in the running predating […]

Continue Reading
RBS selects Alison Rose as next chief executive, reports say | Business

RBS selects Alison Rose as next chief executive, reports say | Business

State-owned Royal Bank of Scotland has reportedly chosen Alison Rose as its next chief executive, making her the first woman to lead one of Britain’s major lenders. Rose, who has worked at RBS for 25 years, has long been the City’s favourite to succeed outgoing boss Ross McEwan, with rumours of her leadership bid predating […]

Continue Reading