Deutsche Bank share price falls as “challenging” revenue environment weighs despite profit rise October 26, 2017 Deutsche Bank third-quarter profits more than doubled year-on-year but the lender warned of a “challenging” revenue environment following a global trend of weakness in investment bank trading revenues. Shares in the Frankfurt-based lender fell by almost two per cent at the time of writing. The figures Net income rose to €649m (£578m), compared to €278m [...]
Love it or hate it, you can’t halt the momentum of Silicon Valley October 26, 2017 Opposition and doubt always accompany any great change. The rise of computer technology over the last 30 years is no different than the invention of the car or the light bulb in this respect. The innovations that Silicon Valley has produced have shaken just about everything we thought we knew, and made us question the [...]
10 reasons the UK should not fear a ‘no deal’ Brexit outcome October 26, 2017 The good cop, bad cop routine between the European Council and Commission makes it very difficult to assess whether or not the Brexit negotiations will lead to acrimony and breakdown. My guess is that there is a 50:50 chance that the UK could end up walking away with no deal. And we know what would [...]
Dutch private equity firm Waterland establishes a UK office to give British businesses access to its €2bn fund October 26, 2017 Netherlands-rooted Waterland Private Equity Investments has established its first UK office and dedicated team, based in Wilmslow. The new office will give lower mid-market businesses, which generate earnings of £3m to £10m, access to Waterland’s €2bn seventh fund which was raised last month. Headed by Andy Scaife, who was Quantum Pharma’s chief executive throughout the [...]
Claude Puel described as “perfect fit” for Leicester after being appointed Foxes boss October 25, 2017 Former Southampton boss Claude Puel has been billed as the perfect fit for new club Leicester by the club’s vice-chairman Aiyawatt Srivaddhanaprabha after being appointed Foxes manager. Puel has signed a three-year deal at the King Power Stadium and becomes Leicester’s third boss of the calendar year after succeeding Craig Shakespeare, who was sacked last [...]
London-listed firms warned they will be named and shamed on investor pay revolts in new public register October 25, 2017 A raft of London-listed firms will be warned this week of their inclusion in a new government-backed public register compiling investor revolts over pay, as well as corporate governance issues. The trade body for Britain’s fund management industry, the Investment Association, is writing to firms which recorded at least a fifth of shareholders opposing resolutions [...]
Ivan Rogers: Brussels negotiators thinking “what business can they suck out of London” October 25, 2017 The government will struggle to stop EU officials trying to break up the City after Brexit, the UK’s former ambassador to Brussels has warned. Ivan Rogers, who resigned earlier this year, told the Treasury Select Committee that many EU negotiators are unwilling to maintain close links between London’s financial sector and businesses across the rest [...]
Agree transition deal by year end or risk financial stability, says LCH boss October 25, 2017 The government must secure a transition deal by the end of the year or risk financial instability, and London’s future as a global hub, the boss of the world’s largest clearing house has warned. Daniel Maguire, chief executive of London Stock Exchange’s LCH, told a House of Lords committee that he would like to see [...]
Government did not force Lloyds to buy HBOS, ex-finance chief Tim Tookey tells court October 25, 2017 The government did not force Lloyds TSB to buy HBOS at the height of the financial crisis, the High Court heard today, as the first former Lloyds executive gave evidence in a £550m legal case brought by shareholders. Tim Tookey, who served as group finance director of the bank, told the court: “We were not [...]
The $64 trillion question October 25, 2017 | City Talk How much longer the stock market rally can continue has become the $64 trillion question. For a growing number of market observers, there’s a simple answer: not much longer at all. Markets, they argue, have becoming increasingly detached from economic fundamentals, particularly in Britain. It’s thirty years since Black Monday and while few would suggest [...]