SocGen accuses Clifford Chance of negligence in £ 384m gold bullion dispute

Societe Generale has accused Clifford Chance of negligence over its work for the bank in a dispute over £ 384m-worth of gold bullion. SocGen engaged the Magic Circle law firm in 2008 to pursue Turkish jewelery maker Goldas. The bank claimed Goldas had failed to pay for 15,725 metric tonnes of gold bullion. The bank … Read more

Citigroup Stock Is the Cheapest of the Big Banks. It’s Ready to Take Off.

Text size Even Warren Buffett’s Berkshire Hathaway has been buying Citi stock, a vote of confidence if there ever was one. Mario Tama / Getty Images Bank stocks have gotten hit as concerns about the US economy have grown. They’re starting to look like bargains, and none more so than Citigroup . The SPDR S&P … Read more

The Fintech Files: BoE steps in on stablecoins, while Lord Agnew and Starling spat

The implosion of the stablecoin TerraUSD and its paired cryptocurrency luna sent shockwaves through financial markets – and turned some heads in the British government, too. But not everyone is a fan of the idea. “I’d question the timing, post-Terra blow up,” Ian Taylor, chief executive of industry body CryptoUK, said of the consultation. “I … Read more

HSBC Europe boss Lisa McGeough on the bank’s new ‘Dragons’ Den’ and why the poaching risk is waning

When Lisa McGeough joined HSBC in July last year to lead its European investment bank, she faced a task of continuing to turn the business around as she took the reins from bank veteran Philippe Henry, who retired after 32 years at the UK lender. Europe had felt the brunt of a number of cuts … Read more

Does Wall Street have a diversity problem?

With two weeks to go before the second anniversary of George Floyd’s murder, which triggered a tremendous outpouring of grief and a resurgence of the Black Lives Matter movement across the world, the finance sector is still coming to terms with its own diversity issues. At a Barron’s Live-Financial News event unpicking whether Wall Street … Read more

Too many crypto transactions are fraudulent, Starling CEO Anne Boden warns

The City should be wary of cryptocurrencies, the chief executive of Starling Bank said. “Too many transactions that go into crypto exchanges are fraudulent, and until the industry puts in more and more controls … we all have to be wary of that space,” Anne Boden told Financial News at the City Week annual conference … Read more