Chris Newlands
Editor and Writer at Freelance
Journalist, writer and editor. Ex @FT, former business and money editor @theipaper, ex @FinancialNews editor. Author of The Virgin Money Maker
Articles
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3 days ago |
spearswms.com | Chris Newlands
Over the past couple of decades, a pattern has emerged. Every two years or so - almost like clockwork - a senior judge in the UK hits out at the spiralling legal cost of divorce, calling the fees, among other things, 'eye-watering', 'staggering' and 'unacceptable'. What usually happens is the same judges then appeal for rule changes and a cap on charges to prevent fees - which can often be in the millions - from running to ridiculous levels.
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1 week ago |
thebanker.com | Chris Newlands
Bank of London’s parent company has posted losses of almost £50mn, compounding problems for the British fintech, which is being investigated by the UK’s banking regulator. It is the third straight year of losses for the holding company of the fledgling clearing bank, with total deficits since launch now approaching £110mn.
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1 week ago |
thebanker.com | Chris Newlands
This time 30 years ago Nick Leeson was locked up in a maximum-security prison in Germany, awaiting extradition to Singapore for his part in the sudden and spectacular collapse of Barings Bank. Spoiler alert: Leeson was found guilty of bringing down the 233-year-old institution. But at that point during his “stay” at Hoechst Prison in Frankfurt, the former derivatives trader had no idea how long his sentence would be for racking up losses of £837mn in the now-infamous 88888 “error” account.
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1 week ago |
thebanker.com | Chris Newlands
The son of rogue trader Nick Leeson, who single-handedly brought down Barings, is considering a career in banking. In an exclusive interview with The Banker, Leeson, who racked up losses of £837mn in the now-infamous 88888 “error” account, says his youngest son is studying for a degree in business and economics and is contemplating a job in the City. When asked if the son, who is in his early 20s, could become a banker, the former derivatives trader said: “Yes.
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2 weeks ago |
thebanker.com | Chris Newlands
Former employee says the company has become ‘more of a pantomime horse than a $1bn unicorn’Once valued at $1.1bn on launch, Bank of London now faces regulatory scrutiny, mounting losses, and serious questions over its future viability © Getty/FTBank of London’s media statement when it launched in November 2021 was full of swagger.
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Do or DEI: Donald Trump’s deadly attack on diversity. My piece for @TheBanker, featuring @thatginamiller, @MorrisseyHelena, @Citi, @BofA_News, @GoldmanSachs https://t.co/xFi6QEBRlt
Canary Wharf is a child of the 1980s, built at a time of shoulder pads and power suits. But decades later some of the district's biggest tenants are moving out. So what's next for Canary Wharf. https://t.co/VbevELasfc
Never before has the UK’s main financial regulator come under such a sustained attack. My piece for @TheBanker featuring @thatginamiller, @andyaga, @premnsikka, @BobBlackman, @TheFCA and @UKFtweets. https://t.co/U1f6QwpHGg
