Britain’s finance sector too slow to hire women to top jobs

LONDON (Reuters) – Britain’s finance ministry wants more ambitious diversity targets at financial firms as the pace of hiring women to top jobs is too slow, a review said on Tuesday.

A Women in Finance charter was launched in 2016 by the finance ministry in a bid to improve diversity in the financial sector where just 14% of executive committee members were women in 2015.

More than 370 firms with over 900,000 employees in total have signed up to the charter and commit themselves to voluntary diversity targets.

A review by New Financial think tank of 187 of the firms found that only a third have met or exceeded their own targets.

Women make up 32% of senior management on average, still short of the 33% minimum target the finance ministry would like to see for all signatories, the review said.

“I am determined to see the financial services sector

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Lampard insists Chelsea won’t need to sell Kante to finance Werner move

Frank Lampard has reiterated his desire to keep N’Golo Kante at Chelsea long-term as he admitted that the only reason the midfielder hasn’t played more is due to injury this season.

The 29-year-old is Chelsea’s highest-paid player but has missed 14 games this season due to ankle, hamstring and knee problems.

The two-time Premier League winner has missed more games through injury this season than in his entire English football career, which famously included a key role at Leicester’s title-winning team.

Real Madrid have been linked with a move for the midfielder in the last few days but Lampard has refuted suggestions that Chelsea will sell their dynamic talent to raise further funds.

This comes following the £47.5 million ($59m) signing of Timo Werner this summer from RB Leipzig in addition to the previously agreed £37m deal ($43m) for Ajax’s Hakim Ziyech.

“In terms of N’Golo, I’ve seen some talk

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China calls on banks to give up US$212 billion in profits to finance cheap business lending

China’s government is reaching beyond its monetary policy tool box to free up capital and direct funds towards the nation’s cash-starved businesses to help the economy claw its way out of its worst slump in four decades.

The government has called on banks to sacrifice as much as 1.5 trillion yuan (US$212 billion) in profits this year to finance cheap loans, cut fees, defer loan repayments and grant more unsecured loans to help small businesses survive the downturn caused by the coronavirus lockdown.

Separately, the State Council, China’s cabinet, signalled late on Wednesday that it would cut the amount of reserves banks are required to hold at the central bank, freeing up more money to spur lending.

“We are guiding the market to lower lending rates through interest-rate reform,” Yi Gang, the governor of the People’s Bank of China (PBOC), told the Lujiazui Forum on Thursday, confirming the move was

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UK Finance chief Stephen Jones quits over sexist Amanda Staveley comments

The head of UK banking’s industry group has stepped down over historic sexist comments he made that had recently come to light in a court case.

UK Finance confirmed late on Tuesday that its board had accepted the resignation of Stephen Jones. Jones, who has headed the powerful industry group since 2017, tended his resignation after coverage of comments he made in 2008 while at Barclays (BARC.L) bank.

The High Court heard earlier this month that Jones made “deeply unpleasant personal comments” about Amanda Staveley, a high-profile financier.

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The court was told on Friday that Jones referred to Staveley’s firm as “a bunch of scumbags” and “f*****s”, according to The Times.

The comments came to light in a High Court case between Staveley’s firm, PCP Capital Partners, and Barclays related to a financing

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