Standard Chartered pulls back from Africa and Middle East in cost cutting push April 14, 2022 British lender Standard Chartered announced today it would slash its presence in Africa and the Middle East as it looks to cut costs and simplify its business.
Swiss banker who paid for strip clubs on expenses sentenced to almost four years for fraud April 14, 2022 A banker who has been jailed for fraud put strip club visits and holidays on expenses, a court was told. Former banker of the year in Switzerland, Pierin Vincenz, will spend almost four years in jail, after he was sentenced at the culmination of a high-profile case in the country. The ex chief executive of [...]
Exclusive: Unicorn Bank of London announces new deputy chief executive April 14, 2022 A new deputy chief executive has been appointed by the Bank of London, the second clearing bank to launch in the UK within the last 250 years. Tom Wood has joined the technology-based company which landed with a bang last year, being valued at £1.1bn. The first pre-revenue bank to reach unicorn status upon entering [...]
Chelsea takeover: who are the four remaining bidders? April 13, 2022 As the race to takeover Chelsea enters the final stretch, who are the consortiums vying to succeed Abramovich?
Graduates face 12 per cent interest rate on student loans April 13, 2022 Graduates could be weighed down by 12 per cent interest payments on student loans from September, fresh analysis has revealed.
Is the yield curve signalling recession? April 13, 2022 | City Talk The US “yield curve”, or part of it, has “inverted” once more. This bond market measure has been a reliable predictor of US recessions over the last four decades. With only one exception, each time the yield curve has inverted, the US economy has entered a downturn within 18 months. What is the yield curve? [...]
Russia-Ukraine war deals JP Morgan £402m blow April 13, 2022 The US’s largest bank, JP Morgan, has been dealt a $524m (£402m) blow from losses linked to assets it owns in Russia, it announced today. The firm headed by Jamie Dimon said losses had been driven by “markdowns of derivatives” tied to Russian counterparties. The Wall Street investment bank has been part of a western [...]
Shares in Asia focused companies dip as Chinese inflation soars April 11, 2022 Shares in London listed companies with Asia focused businesses dropped today after Chinese government data showed outbreaks of Covid and the war in Ukraine had caused inflation in China to soar. The dips come after figures from China’s National Bureau of Statistics (NBS) showed factory gate prices are up 8.3 per cent compared to [...]
Going green: Eden Project plots new base in Canary Wharf April 11, 2022 City workers in Canary Wharf could soon be treated to lush green public spaces on the doorstep of their offices.
Goldman Sachs launches European assets to over £460bn with latest £1.4bn deal April 11, 2022 Goldman Sachs has launched its assets under management north of $3 trillion, after taking over a Dutch investment firm. The Wall Street giant has snapped up NN Investment Partners from the NN Group for €1.7bn (£1.4bn). As part of the transaction, Goldman Sachs Asset Management will manage an around $180bn (£138bn) portfolio of assets for [...]