Intesa Sanpaolo reveals it is examining Generali takeover January 24, 2017 Italian bank Intesa Sanpaolo has revealed it is considering a takeover bid for the country's largest insurance firm, Generali. Shares in Generali had previously jumped over eight per cent today after it was reported Intesa was preparing an offer for the €24bn (£21m) market cap firm in a deal that would be one of the sector’s largest takeovers. Intesa Sanpaolo [...]
Another former aide to David Cameron has joined the ranks of lobbyists January 24, 2017 A former aide to David Cameron has become the latest of the ex Prime Minister's staff to join the ranks of lobbyists. Cameron's former deputy chief of staff, Baroness Kate Fall, is to join Brunswick to serve as a senior partner. Fall was part of Cameron's team until she departed office last summer, with the [...]
The head of the BlackRock, the world’s biggest asset manager, has warned boards he will vote against excessive pay January 24, 2017 The chief executive of the world’s largest asset manager has warned companies it is invested in it will use its weight to vote down excessive executive pay. BlackRock’s Larry Fink said the asset manager would fight for “board accountability” for its investments in an annual letter to the chief executives of European companies. This includes [...]
IG Markets bins binary products for new investors January 24, 2017 IG Markets has withdrawn a popular spreadbetting product that allows punters to speculate on a wide range of market movements, as regulators consider proposals to crack down on the sector. Sprints binary products will no longer be available to new investors, the FTSE 250 firm said today, although they can still be used by current clients. Read [...]
Saudi Aramco eyes bankers for what could be the world’s biggest float January 24, 2017 Global banking giants are set to compete for an advisory role on oil goliath Saudi Aramco’s multi-billion-dollar float, which is expected to be the world’s biggest initial public offering. The Saudi state-owned firm, thought to be the world’s largest oil producer, has requested proposals from banks including Morgan Stanley and HSBC, sources told Reuters late last night. [...]
Trump bump: US manufacturing activity expands at fastest rate since 2014 January 24, 2017 The US manufacturing sector started the new year on a high as Donald Trump assumes the Presidency, according to a survey of business activity. Manufacturing activity in the world’s largest economy expanded at the fastest rate since September 2014, according to flash estimates from data provider IHS Markit. The manufacturing purchasing managers’ index (PMI) rose [...]
BAE Systems to boost O2 multi-platform cyber defences January 24, 2017 Mobile phone firm O2 has joined forces with one of Britain’s best known defence contractors in a bid to bolster its defences against a future cyber attack. BAE Systems has been drafted in to provide customers with a “device to cloud” cyber security service. Read more: BAE Systems to train a third of graduate recruits in [...]
Revealed: The full list of branches HSBC is set to close this year January 24, 2017 HSBC has announced 62 fresh branch closures today as part of its restructuring programme. This takes the total number of branches closing this year to 117. Here's a full list of the 62 branches HSBC just announced its closing: Alfreton Alnwick Ammanford Balsall Common Bedworth Blackpool, Birley Street Bletchley Brigg Bristol College Green Brompton Road Cardiff, Churchill [...]
China now gets more oil from Russia than it does from Saudi Arabia January 24, 2017 Russia last year overtook Saudi Arabia as China’s biggest supplier of crude oil thanks in large part to increased demand from independent refineries, popularly called teapots. This is what statistics data released today by Beijing’s customs authority show. The average daily amount that Russian companies exported to China in 2016 stood at 1.05 million barrels, [...]
More travel chaos for Londoners tonight after train derails at Lewisham January 24, 2017 Commuters are facing severe disruption on the Southeastern network during the evening rush hour after a freight train derailed at Lewisham. Southeastern said all services through the area will be disrupted by the derailment, with some services suspended. A freight train has derailed in the #Lewisham area. All services through the area will be disrupted, [...]