NatWest Bank has pleaded guilty to failing to prevent alleged money laundering of nearly £400m by one customer. NatWest said “We deeply regret” failing to “adequately monitor and therefore prevent money laundering by one of our customers between 2012 and 2016”. The case was brought by the Financial Authority (FCA) which alleged the bank failed…
Pandora Papers The latest Pandora papers exposes offshore dealings and secret financial documents of presidents, prime ministers and royalties. Thirty five current and former leaders and more than 300 public officials are featured in the files from offshore companies, dubbed the Pandora Papers.King of Jordan amassed £70m secret UK and US properties empire. Blairs saved…
Professor Bobby Duffy’s compelling book, reveals our preconceptions are just tired stereotypes by expressing when we’re born determines our attitudes to money, sex, religion, politics, and much else, informed by unique analysis of hundreds of studies. Duffy, formerly of polling company Ipsos Mori, now director of The Policy of Institute at King’s College, London, concludes…
Winston Churchill’s slogan “Keep Buggering On” became a national catchphrase during the Second World War. Duncan Weldon from The Economist highlights key themes from his brisk history of Britain’s economy since the industrial revolution, taking in everything from the South Sea Bubble to the impact of the financial crisis. According to Weldon the same issues…
In 1940, dealers agents thronged the then Netherlands port would enclose price lists for goods or loans on the City’s Exchange, the Beurs, along with correspondence to their clients. Pyke captures the intrigue, opportunity, chaos, scandal and nonconformist spirit of the sixteenth century Antwerp with exquisite narrative zeal. A clerk for van den Molen…
Grifters came to be called visionaries and high finance lost its mind. In 2001, charismatic Adam Neumann arrived in New York, the land of opportunities, after five years as a conscript in the Israeli navy, he transformed himself into the charismatic CEO of WeWork worth $ 47bn, within the span of 15 years. His long…
Hundred years after its publication, Kurt Godel’s famous proof that every mathematical system must contain propositions that are true – yet never provable – continues to unsettle mathematics, philosophy, and computer science. Godel’s work was to mark a decisive turning point for the history of mathematics and, possibly, the future of artificial intelligence. In 1900,…
Margarette Lincoln, former deputy director of the National Maritime Museum, brings detailed account of London life -the gardens, the coffee houses, the shopping and charts the impact of national events growing citizenry with its love of pageantry, spectacle and enterprise. When the Thames froze over and Mary Evelyn, wife of the diarist John, complained about…
Crossing Continents recounts Standard Chartered’s story not a critique of British imperialism, silver crises, and currency reforms but of men and British achievement in the East, with in depth details from one of the richest archives available to any commercial bank, by giving rare and compelling perspective on the evolution of international trade and finance,…
HSBC has sold 80 retail branches network in America to Citizens bank and 10 others to Cathay Bank. There also more than $10bn of deposits and $3bn of loans. The HSBC US network has been consistently loss-making . Noel Quinn, HSBC CEO, is on a drive to Slash costs of $4.5bnand 35, 000 jobs after…