Business can help Britain lead the green race to a better future April 26, 2019 One of the things that has been keeping me sane over the past three months as the twists and turns of Brexit have taken their toll is working on climate change. I’ve had the privilege of being part of an expert group providing advice to the UK Committee on Climate Change on the move to [...]
RBS profits sink as bank warns future earnings face pressure from Brexit uncertainty April 26, 2019 RBS profits fell in the first three months of 2019, it revealed a day after its chief executive announced his intention to resign. Ross McEwan yesterday announced he would step down after five-and-a-half years at the helm, saying he had achieved his strategy to refocus the bank after its £45.5bn government bailout. However, today the bank warned [...]
Lazard beats expectations after financial advisory firm gets M&A boost April 25, 2019 Investment advisory firm Lazard's shares climbed eight per cent today after it posted better-than-expected first quarter results. Overall revenue at the New York-listed company fell 14 per cent to $620m (£480m), while analysts had predicted a figure of $589m according to Yahoo Finance. Investors were cheered by the news that Lazard’s key mergers and acquisitions [...]
UBS beats expectations but investment bank profits plunge 64 per cent April 25, 2019 Swiss banking giant UBS beat expectations but reported a 64 per cent profit fall in its investment bank in a “challenging" quarter. Chief executive Sergio Ermotti had set the bar low after warning of “one of the worst first-quarter environments in history,” earlier this month. Read more: UBS and Deutsche in 'serious' talks over asset [...]
Extinction Rebellion protests: 26 arrested after London Stock Exchange climate change protest April 25, 2019 Police arrested 26 people this morning after climate change activists blocked the London Stock Exchange as the Extinction Rebellion protest group targeted Square Mile financial institutions. Read more: Climate change protesters glue themselves to London Stock Exchange The Metropolitan Police said they were arrested on suspicion of aggravated trespassing. Meanwhile other activists were demonstrating outside [...]
Deutsche Bank and Commerzbank merger talks collapse April 25, 2019 Merger talks between Germany’s two largest lenders Deutsche Bank and Commerzbank have collapsed. Deutsche Bank said discussions had been abandoned as there were too many risks attached to the potential merger. The pair began talks last month after the German government, which owns a 15 per cent stake in Deutsche Bank, signalled it would not [...]
Extinction Rebellion: Climate change protesters target London Stock Exchange and Canary Wharf station April 25, 2019 Climate change protesters glued themselves to the London Stock Exchange this morning as they target the City of London in their last day of activism after two weeks . A string of seven Extinction Rebellion protesters have blocked the entrance to the exchange, with campaigners dressed in what they described as “Robocop-style” masks with the [...]
Barclays profits fall as investment banking unit struggles ahead of Bramson showdown April 25, 2019 Barclays profits fell 10 per cent over the first three months of 2019 as its under-fire investment bank endured a “weak quarter” ahead of next week’s showdown with activist investor Ed Bramson. But chief executive Jes Staley said the investment bank outperformed all but one of its US rivals and gained market share for the [...]
Ross McEwan resigns as chief executive of RBS after five and a half years April 25, 2019 Ross McEwan has resigned as chief executive of Royal Bank of Scotland (RBS) after more than five years in charge. The bank announced McEwan’s shock resignation ahead of its AGM this afternoon and its first quarter results tomorrow. The New Zealander has a twelve month notice period and will remain in the role until his [...]
What the next Bank of England governor’s CV needs to look like April 24, 2019 With less than a year until Mark Carney steps down, the government today kickstarted the search for a new Bank of England governor. We’ve already compiled a list of candidates tipped to replace the American when he departs the post in January 2020, but chancellor Philip Hammond has put out a job ad anyway. Read [...]