Last Week in the City: Stiff competition in funerals? June 1, 2018 | City Talk Garry White, chief investment commentator, looks at the market-moving events that have shaped the UK equity markets this week (28 May to 1 June 2018). Shares in listed funeral director Dignity slumped after the UK Competition and Markets Authority (CMA) said it will examine the pre-paid funeral sector, a move that could see tougher regulation. [...]
Investment bank Nomura gets German licence for post-Brexit Frankfurt base June 1, 2018 Japanese investment bank Nomura said today it had been granted a licence by German regulators for its new post-Brexit Frankfurt base. Nomura confirmed it had received a licence from German financial regulator BaFin for its new Frankfurt subsidiary. The bank said in a statement: “Nomura’s plans are well advanced and the license is a major [...]
UK Q2 outlook more positive June 1, 2018 | City Talk Last week European markets posted their first weekly loss since March, breaking a run of eight consecutive weekly gains, raising the prospect that we could be on the cusp of a period of consolidation after a run that has seen the FTSE100 run up from lows of 6,840 in March to a new record high [...]
Fintech challenger bank Revolut hits back at Google, Microsoft, Facebook and Twitter over “heavy-handed” approach to crypto ad ban June 1, 2018 Banking challenger and fintech unicorn Revolut has openly criticised the clampdown on cryptocurrency advertising by tech giants like Google and Microsoft, saying that legitimate businesses like its own are going to get “unfairly caught in the crossfire”. The fintech stalwart’s head of mobile, Ed Cooper, has hit back at claims that the ad ban is [...]
Deutsche Bank chief executive Christian Sewing ‘sick and tired’ of bad news as S&P downgrades credit rating June 1, 2018 Deutsche Bank’s new chief executive told employees today he was “sick and tired” of bad news surrounding the lender, after credit rating giant Standard & Poor’s downgraded Deutsche’s credit rating. Christian Sewing reiterated a commitment to Deutsche’s turnaround in his message to staff, saying the bank will prove that it has “earned a better valuation” [...]
Brexit breakthrough: Cabinet ministers poised to back modified max fac customs option as Irish border solution breaks Brexit deadlock June 1, 2018 Ministers charged with determining the UK’s position on post-Brexit customs are poised to argue for a modified version of the “max fac” option, after making a breakthrough on the Irish border issue, City A.M. understands. For nearly a month, Cabinet ministers have been analysing the two options – the new customs partnership, or NCP, initially [...]
Tommy Robinson’s US fan club is exporting the alt-right to Britain June 1, 2018 The thing about conspiracy theories is that the more evidence there is disproving them, the more their supporters dig in their heels. GM crops will turn us into mutants. Vaccines cause autism. Julian Assange was set up by the CIA. Facts, figures, and expert analysis do no good – in fact, they are part of [...]
Kim Kardashian as Donald Trump’s policy adviser? It must be 2018 June 1, 2018 US President Donald Trump has had his much-hyped meeting with Kim – just not the Kim we had been expecting. With foreign affairs in flux, Trump made time to meet American sensation Kim Kardashian West, to discuss the serious issue of prison reform. According to the reports, the reality TV star spoke with the President [...]
End of the Roman empire? Abramovich, visas and the sudden halt of Chelsea’s £1bn stadium project May 31, 2018 Roman Abramovich has transformed Chelsea from financially stricken also-rans to serial winners and global behemoth since buying the west London club from Ken Bates in a £140m deal 15 years ago. But questions about the Russian billionaire’s future as owner have resurfaced after the Blues called an abrupt halt to their plans to redevelop their [...]
Google’s Project Sunroof encourages consumers to switch to solar panels by estimating savings May 31, 2018 Tech company Google will now offer a solar power service that allows users to find out how much money they would save by switching to solar panels by measuring solar potential. The project, which is in cooperation with energy company E.ON, is called Project Sunroof and uses data from Google Earth and Maps to determine [...]