Seven colleagues at the Financial Times have begun a gruelling task of collectively cycling 36 stages of the Tour de France, one of the toughest sporting challenges in the world. Their aim is to raise £1,500 for The William Wates Memorial Trust, the charity supporting disadvantaged young people through education and sport.
LONDON: The UK banking sector has lost its stature in the international arena against strong Chinese competition, according to The Banker magazine’s Top 1000 ranking.
The 2012 rankings reveal year-on-year falls in profit (down 8.2%), lending (down 3.12%) and capital (down 1.71%) among UK banks. In just five years,UK banks’ share of global banking profits have halved to 5%.