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...The top US consumer finance watchdog has raised doubts about megamergers in the credit card industry, just as Capital One attempts to close its $35.3bn takeover of card issuer Discover Financial Services...
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...Griggs said that having tax under one umbrella reflected how clients bought services from PwC....
...“So it’s not easy to find the people that can then take a broader and more complete understanding of the business.”...
...UK high-speed trader XTX Markets is building a vast data centre in Finland to handle the information for the $250bn worth of deals that it makes every day, bucking the trend among financial services groups...
...“The best service we can give is actually to get the job done.”...
...Munich prosecutors told the Financial Times last week that their investigation was ongoing, and declined to comment further....
...Figures published on Sunday showed individuals and businesses made almost 3,900 complaints about account closures to the Financial Ombudsman Service in the year to April 5 — an increase of 44 per cent from...
...Tuesday’s break-up completes a plan launched in 2021 to separate the industrial titan’s energy, aviation and healthcare units....
...The Post Office, which remained under public ownership when Royal Mail was privatised, made just £500mn of revenues from financial services last year....
...“This misconduct reveals an inappropriate tone at the top and a complete failure by firm leadership to promote an ethical culture worthy of investors’ trust,” said Erica Williams, chair of the PCAOB....
...The approach underlines private equity interest in the sector and comes after several firms made investments in professional services businesses in the US and Europe....
...The Financial Times will be publishing its sixth annual list of Europe’s Diversity Leaders in November....
...Asset manager Redwheel, which owns a 14.6 per cent stake in the UK electronics retailer, said on Tuesday they were “in complete agreement” that the business was worth substantially more than the 62 pence...
...An OCC spokesperson said the agency had “not received a filing from Capital One regarding Discover Financial Services”....
...US lender Capital One has agreed to buy rival Discover Financial for $35.3bn, in an all-stock tie-up that is set to unite two of America’s largest credit card companies....
...People with direct knowledge of the ruling told the Financial Times earlier this week that the watchdog concluded that the audits were “at the very least” negligent, and in some cases grossly negligent,...
...But the plan has prompted warnings from the private sector of higher costs and reduced services....
...In November, the Financial Times reported that the firm had frozen pay for about 12,000 employees in the UK amid a difficult economic environment....
...The move could not only leave firms invested in US equities short of funds to complete trades but could also mean staff in Hong Kong will have to complete trade settlements during a shortened daily window...
...“It’s a complete fiasco,” according to one person following the saga....
...It is also prepared to lose some former Credit Suisse clients who are overly reliant on borrowing from the bank without paying enough for other products and services....
...A spokesman for the Cologne public prosecution office said that Brorhilker’s decision came as a complete surprise....
...He points to the use of co-pilot systems to help reduce mundane tasks in financial services as in other areas....
...“In [Hong Kong], we look for a more complete ecosystem beyond just the exchanges,” he said....
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