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Barclays shares skyrocket as FTSE 100 bounces back from tariff shock

Barclays shares skyrocket as FTSE 100 bounces back from tariff shock

Barclays shares jumped over 20% at the open, stabilizing at a 15% rise, as the FTSE 100 bounced back from tariff losses. The removal of Trump's 'Liberation Day' tariffs worked to unwind recent losses, cutting Barclays' one-month fall to 3%.

Sterling Bancorp announces closing of sale of Sterling Bank and trust to EverBank Financial

Sterling Bancorp announces closing of sale of Sterling Bank and trust to EverBank Financial

Sterling Bancorp (NASDAQ: SBT) completes the $261 million sale of Sterling Bank and Trust to EverBank Financial, effective April 1, 2025. All branches except Michigan will transition to EverBank, and Sterling will file for dissolution and delist from Nasdaq. Four directors have resigned.

PwC slammed over £4.5m for audits of Wyelands Bank

PwC slammed over £4.5m for audits of Wyelands Bank

PwC fined £4.5m (reduced to £2.9m) by the FRC for audit failures at Wyelands Bank, owned by GFG Alliance. The fines stem from inadequate understanding of lending practices and related-party risks, despite PRA warnings. PwC acknowledges the issues and is committed to improving audit quality.

The Bank of England keeps interest rates despite uncertainty about global trade war

The Bank of England keeps interest rates despite uncertainty about global trade war

The Bank of England maintains interest rates at 4.5% amid global trade war uncertainty. Inflation is expected to peak at 3.75% this year, and wage growth of 5.9% could exacerbate price rises. The BoE will reassess Trump’s tariffs at its next meeting in May.

Revolut and Visa bring legal challenges against UK payments regulator

Revolut and Visa bring legal challenges against UK payments regulator

Revolut and Visa challenge the UK’s PSR over a proposed cap on international transaction fees, arguing the regulator overstepped its powers. European banks and fintechs claim the cap will make them lose money post-Brexit. Both seek a judicial review for a fair process.

Brex aims for stability following operations revamp

Brex aims for stability following operations revamp

Brex, a $12.3 billion corporate card startup, streamlined operations by laying off 20% of employees and adopting a quarterly product release cycle. These efforts have stabilized cash burn and improved product quality.

Credit Suisse and Silicon Valley Bank: Justice at Two Speeds

Credit Suisse and Silicon Valley Bank: Justice at Two Speeds

SVB's collapse on 10 March 2023 led to a FDIC lawsuit against 17 executives for negligence. Credit Suisse's leaders faced no such accountability, highlighting regulatory differences. SVB is criticised for its reliance on long-term government bonds and an imprudent £294 million dividend.