Simon Mugo
LeapRate Analyst

Simon has over six years of professional trading experience across FX, commodities and equities. He has a strong passion for financial markets and is particularly focused on price action trading.
IC Markets Trading View
March 07, 2024 BY Simon Mugo

IC Markets Integrates Its Trading Services With Tradingview Charts

By integrating IC Markets into the TradingView ecosystem, users gain the ability to execute CFD trades directly through TradingView's interface, which includes cryptocurrencies, futures, indices, and various currency pairs. This partnership provides traders with favourable conditions and simplifies access to a broad range of trading opportunities. To begin trading, users can access the trading panel…

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Kazuo Ueda
March 06, 2024 BY Simon Mugo

Rapid Digitalisation Poses Financial Risks in Asia – Says BoJ’s Ueda

The adoption of digital financial services has experienced a remarkable upswing in the Asia-Pacific region, particularly in emerging economies where a significant portion of the population previously lacked access to traditional banking services. Smartphones' widespread availability and convenience have revolutionised daily financial transactions, enabling greater financial inclusion for many. Despite these advancements, Ueda highlighted the…

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March 06, 2024 BY Simon Mugo

Euribor To Start Much-Awaited Changes in May To Attract More Banks

The reputation of interbank rates like Euribor's counterpart, Libor, suffered greatly due to manipulation scandals. This led to Libor's discontinuation and its replacement by overnight rates determined by central banks such as the Federal Reserve, European Central Bank, and Bank of England. The Euro Interbank Offered Rate overhaul, or Euribor, seeks to lessen the workload…

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FCA
March 05, 2024 BY Simon Mugo

UK’s FCA Vows To Probe Bank Lending Practices to Small Businesses

The Financial Conduct Authority (FCA) revealed on Tuesday that the Federation of Small Businesses (FSB), acting as a consumer advocacy group, has raised concerns about the negative impact on small businesses caused by lenders' heightened demands for personal guarantees, potentially deterring them from seeking financial support. Although the FCA's mandate does not extend to lending…

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Capital One bank
March 05, 2024 BY Simon Mugo

Capital One Wins FX Charges Lawsuit Brought by Cardholders

The lawsuit, brought forward by four individuals, claimed that Capital One inflated its profits by applying "fictional" rates for converting transactions made in foreign currencies into U.S. dollars. According to the plaintiffs, the bank, headquartered in McLean, Virginia, did not adhere to the guidelines established by card networks Visa and Mastercard, which require the use…

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Alecta logo
March 04, 2024 BY Simon Mugo

Sweden’s Alecta Pension Fund Chairperson Resigns After a Week

Kenneth Bengtsson, the chair of the nomination committee, expressed regret over Akerstrom's decision to leave, noting her reassessment of her capability to serve effectively as Alecta's Board Chair. While the specific reasons for Akerstrom's resignation were not disclosed by Alecta, the pension fund clarified that there were no unmanageable conflicts of interest involved. Akerstrom herself…

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Santander bank
March 04, 2024 BY Simon Mugo

Santander Fires 320 Employees in the US on Digital Strategy

The reduction accounts for about 2.4% of its overall U.S. workforce, totalling 13,489 employees across the bank's group operations in the country. The decision to streamline its workforce comes as part of Santander's broader initiative to adapt and innovate in response to the dynamic demands of the banking industry, particularly the shift towards digital banking…

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money market funds
March 01, 2024 BY Simon Mugo

Large Inflows Into US Money Market Funds Seen Ahead of Inflation Data

The anticipation was exceptionally high before the release of the core personal consumption expenditures (PCE) price index data, a crucial inflation measure closely monitored by the U.S. Federal Reserve. The data, released on Thursday, revealed that the yearly inflation growth rate was the lowest it had been in almost three years, providing some relief to…

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Legal & General logo1
March 01, 2024 BY Simon Mugo

The UK’s L&G Hires New Advisers To Help Its CEO Antonio Simoes

Industry experts anticipate that under Simoes' leadership, previously an executive at Santander and HSBC, the FTSE 100 company may increase its focus on pension investments and international expansion. In a strategic shift, L&G has opted for the services of the investment banking firm Robey Warshaw, noted for its partnership with former British chancellor George Osborne,…

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February 29, 2024 BY Simon Mugo

Citigroup Plans To Fire 286 Employees in New York

Filings from earlier this week revealed that the job cuts would affect 239 staff members from its primary banking division, 44 from its broker-dealer segment, and three from its technology department. In January, Citigroup announced plans to eliminate 20,000 jobs over the forthcoming two years, a decision that came in the wake of what it…

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