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Evening Standard
HSBC fined £64 million by the FCA for money laundering failures
HSBC was today hit with a £64 million fine for “serious weaknesses” on money laundering, the latest blow to the global bank’s reputation.City watchdog the Financial Conduct Authority said the bank had “unacceptable failings” between 2010 and 2018, including “inadequate monitoring” and poor assessment of risk.The fine comes just days after rival NatWest was fined …
Business
Evening Standard
Live from the floor of the City’s premier trading room: A day at TP ICAP
I’m standing in the centre of the biggest trading floor in the City listening to the sound of a billion dollars flash past.At TP ICAP in the heart of the City, just near Liverpool Street station, they execute 24 million trades a year with a value of £350 trillion.That’s nearly £1 trillion a day including …
Business
Sky News
Recruitment app SonicJobs secures £4m funding to end “spammy” process
A recruitment app which aims to change the “spammy” process of applying for jobs online will next week unveil a $5.5m (£4.2m) funding injection. Sky News can reveal that SonicJobs, which was founded in 2017 by Mikhil Raja, Francesca Boccolini and Francesco Masia, has raised the Series A funding from investors including TriplePoint, Ufi Ventures …
Business
Sky News
Rail fares to rise by 3.8% in March to ‘ensure continued investment’
Rail fares are to rise by 3.8% in March, the Department for Transport (DfT) has announced. Rail minister Chris Heaton-Harris said they were being capped “in line with inflation” and it would allow further investment in the railways. Before the pandemic, fares were raised each January,The rise – based on the rate of retail price …
Business
Sky News
Rail fares to rise by 3.8% in March in biggest increase since 2013
Rail fares are to rise by 3.8% in March, the Department for Transport (DfT) has announced.It is the biggest increase for almost a decade, and has been described by Labour as “a nightmare before Christmas for millions of passengers”. The Transport Salaried Staffs’ Association union accused the government of being “hell-bent on discouraging rail travel”.But …
Business
Business Live
Welsh nightclub sector warns about New Year’s Eve as left ‘astounded’ by closure decision
The nightclub sector in Wales has warned about New Year’s Eve and said they were “astounded” by the closure decision from Welsh Government. Last night First Minister Mark Drakeford announced clubs will have to close on December 27 as part of measures after Boxing Day. It is over fears that the Omicron variant will start …
Business
Business Live
Structure of £16m Northgate Yard leisure facility in Somerset completed
The structure of a forthcoming £16m leisure regeneration project in the centre of Bridgwater, Somerset has been completed. The final piece of steel has been installed on the roof of the 41.8ft high Northgate Yard development, which is being led and funded by Sedgemoor District Council, after work got underway earlier this year. Scheduled for …
Business
Business Live
Birmingham’s ‘world first’ octagonal tower is bought by Singapore property firm in vote of confidence for city
Birmingham’s “world-first” octagonal tower block has been bought by a Singapore property firm in what property agents say is a massive vote of confidence in the city’s property market. City Developments Limited (CDL) has purchased and is developing the site of the 49-storey Octagon tower – billed as “the world’s tallest pure octagonal residential skyscraper”. …
Business
Business Live
This Morning presenter Alison Hammond lands job on Gloucestershire farm
TV star Alison Hammond recently swapped the sofa on This Morning with Phillip Schofield and Holly Willoughby to spend the day milking cows at an organic milk farm in Gloucestershire. The presenter is featuring in a new television advert by NatWest and ITV offering support for businesses – and spent the day working on the …
Business
Business Live
Developer behind £1bn Nottingham Island Quarter scheme issuing £10m of shares towards the project
The developer behind the £1 billion redevelopment of The Island Quarter in Nottingham is launching a share placing to raise £10 million towards the scheme. The Conygar Investment Company said it is issuing a placing of around 6.7 million new ordinary at 150 pence each. The overall 36 acre development is seen as a vital …
Business
Sky News
Retail sales jump in November with Black Friday boost
Retail sales rose by 1.4% in November, lifted above their pre-pandemic level by an increase in sales at clothing stores and computer stores.Volumes were 7.2% higher last month than February 2020 levels, according to the latest data from the Office for National Statistics (ONS), indicating a bounce back from the lows of the pandemic. Non-food …
Business
Sky News
The Bank of England has raised interest rates: What will it mean for you?
The Bank of England’s interest rate hike will add to monthly mortgage payments for millions of borrowers.Industry body UK Finance estimates that 26% of home loans are on variable rates, translating to around two million. Of those, some 850,000 have tracker deals directly linked to the Bank rate, whose monthly repayments will typically rise by …

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