London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Nomura plans to cut up to 50 staff from global trading division January 29, 2019 Japanese bank Nomura is expecting to cut up to 50 jobs across its trading division, with roles in London likely to be affected. The bank plans to slash staff numbers across Europe, Asia and the Americas, however Europe is expected to be hit hardest. Read more: Nomura to slash hundreds of investment banking jobs in London [...]
What are the UK’s most shorted stocks? January 29, 2019 Hedge funds made millions from short-selling Carillion shares after the construction firm collapsed a year ago. That’s hardly a surprise, but what’s telling is that many short-sellers were predicting its failure even before the company issued its first profit warning back in July 2017. Short-sellers borrow shares from other investors, typically large institutions like pension [...]
The Eurozone is at risk of renewed crisis in 2019 – and this time it’s all about Italy January 29, 2019 After a dismal 2018, December brought further bad news for the Eurozone in the form of the European Commission’s economic sentiment indicator. Despite hopes that last year would see an escape from the ongoing repercussions of the 2011-2013 euro crisis, confidence across sectors has taken a hit, with only retail trade remaining a bright spot. [...]
Bailout fears kept Barclays banker ‘up at 2am’ January 29, 2019 One of Barclays’ top executives was awake and panicking at 2am during the height of the financial crisis over fears that a government bailout would compromise his bonus, a court heard yesterday. Roger Jenkins, Barclays’ investment head for the Middle East and north Africa, told senior bank staff “I was panicking that we were about [...]
Former Virgin Money chief Jayne-Anne Gadhia hunts for investors in new tech startup January 28, 2019 The former head of challenger bank Virgin Money is to set up her own fintech startup, designed to save consumers money on their household bills. Dame Jayne-Anne Gadhia has approached several investors regarding a new company called Snoop, which will take advantage of Open Banking rules to utilise data about customers' spending habits, according to reports [...]
Row over Bank of England’s Venezuelan gold heats up as senior Tory MP writes to Carney January 28, 2019 The row over the Bank of England’s handling of Venezuelan gold escalated tonight after the former chair of parliament’s Foreign Affairs Committee revealed he had written to governor Mark Carney expressing his concerns over the arrangement. Senior Tory MP Crispin Blunt urged the governor to block President Nicolas Maduro’s attempts to take back the gold, [...]
HSBC appoints internal candidate as head of global markets January 28, 2019 HSBC has appointed internal candidate Georges Elhedery as head of its global markets division. It comes after the bank’s former global markets chief Thibaut de Roux left the company in September last year. The bank’s head of European operations Thierry Roland has taken on the role on an interim basis since de Roux’s departure. Elhedery, [...]
Challenger bank Paragon in lending boost as professional landlord demand surges January 28, 2019 UK bank Paragon has reported strong new lending growth following a surge in demand from professional landlords. The bank said total new lending for the three months to 31 December hit £660m, a 40 per cent increase on the previous year. The majority of new business flows – £424.7m – came from buy-to-let lending as [...]
Lloyds unveils family mortgage offer to help millennials buy a home January 28, 2019 Llloyds Bank will allow first-time buyers to avoid saving for a deposit by allowing parent’s savings to be used in its place. The Lend a Hand mortgage, which is 100 per cent loan-to-value, launched today removes the need for a deposit which is instead provided using the savings of the buyer's family member who can [...]
How financial services firms can weather Brexit January 28, 2019 There are some big Brexit hurdles for the City to leap, writes Barney Reynolds As parliament considers how to pluck a withdrawal agreement out of the ashes of the previous draft, it is important that the respective interests of the UK and the EU are brought to the fore, particularly for the UK’s highly-successful financial [...]