The new chancellor has dived head first into one of the most contentious political issues in UK finance
(Bloomberg) — Good afternoon from Bloomberg’s UK finance team.
Here are five news stories from the Square Mile and beyond that caught our eye this week.
1) UK’s New Government Courts Bankers on Toxic Bonus QuestionThe new chancellor has dived head first into one of the most contentious political issues in UK finance.2) Barclays Is Buying Back $7.7 Billion of Securities After MistakeBarclays is close to concluding a buyback of securities after the bank accidentally issued billions of dollars more structured and exchange-traded notes than it had registered with the Securities and Exchange Commission. 3) HSBC CFO Says Bank May ‘Materially’ Raise Staff Pay in 2023HSBC Chief Financial Officer Ewen Stevenson said rising inflation could force the bank to significantly raise salaries as it eyes “brutal” cuts in an attempt to keep a lid on costs.
4) Woodford Administrator Faces Possible £306 Million Hit, UK SaysThe Financial Conduct Authority said the administrator of Neil Woodford’s failed fund could face a penalty of up to £306 million over its collapse, a first indication of the likely findings from the UK regulator’s longrunning probe.5) King Charles Means £18 Billion Shift for Royal Family’s FinancesQueen Elizabeth II’s death is prompting an outpouring of grief around the world and bringing parts of the UK to a standstill ahead of her state funeral on Monday.
Less visibly, it also set in a motion a wholesale restructuring of the royal family’s finances.
More stories like this are available on bloomberg.com
©2022 Bloomberg L.P.
