Financial Conduct Authority takes backward step on its own diversity targets October 30, 2017 The Financial Conduct Authority (FCA) was today forced to issue a reprimand to itself as data showed the City watchdog has moved further away from its own targets on improving diversity. The FCA’s senior leadership team was 36 per cent female on 31 March, a decline from the 39 per cent ratio at the same [...]
UK online retailer Sosandar thinks it can score better margins than Boohoo and Asos October 30, 2017 The giants of e-commerce have become experts at selling catwalk looks to cash-strapped millennials online, but new entrants are looking to take advantage of gaps in the online market. Founders of newcomer Sosandar, Ali Hall and Julie Lavington, are targeting wealthier women who have grown up buying clothes from Asos, but now want to buy [...]
Goldman Sachs’ Lloyd Blankfein says filling London office is “outside our control” because of Brexit October 30, 2017 Goldman Sachs remains committed to its new European headquarters in London but filling it up remains “outside our control” because of Brexit, its chief executive Lloyd Blankfein tweeted today. In his second tweet in the last fortnight on Brexit, Blankfein said: “In London. GS still investing in our big new Euro headquarters here. Expecting/hoping to [...]
Spain’s state prosecutor calls for charges to be brought against Catalan leaders October 30, 2017 Spain’s state prosecutor has called for charges to be brought against Catalan leaders. The prosecutor has said charges of rebellion, sedition and misuse of public funds should be brought against the region. The move comes as Madrid imposes direct rule on the region for the first time in 40 years. Read more: Spain boots out [...]
Apple’s iPhone X demand is sending share prices of IQE, Dialog Semiconductor, Foxconn and more suppliers soaring October 30, 2017 Shares in firms supplying Apple’s new iPhone X have been boosted after strong demand for the devices. Shares in Apple itself closed more than three per cent higher on Friday when the device was finally released for pre-ordering. The tech giant said demand was “off the charts” easing concerns over consumer interest. Read more: Delivery [...]
Non-smokers at a Japanese company are getting six days’ extra paid leave to make up for smokers’ cigarette breaks October 30, 2017 Non-smokers working at Japanese marketing firm Piala are to get six days more paid leave than their colleagues who like a puff, in order to make up for cigarette breaks taken by smokers. The group’s head office is on the 29th floor of a Tokyo office block, and staff are required to go to basement [...]
Open Banking and PSD2 are a boon to banks, not a burden October 30, 2017 The EU’S second payment services directive (PSD2), set to come into force next year, will require banks to share current account information with third parties through APIs — providing the customer gives consent. This will allow new companies to innovate with an important data source, giving the market a much-needed competition boost. While these innovations [...]
Dulux-maker AkzoNobel confirms it’s in merger talks with Axalta October 30, 2017 Paint maker Akzo Nobel has confirmed it is in talks with US coatings company Axalta regarding a potential merger. The Dutch group, which produces Dulux paint, said in a statement: “In response to market speculation, AkzoNobel confirms today it is currently in constructive discussions regarding a merger of the AkzoNobel Paints & Coatings business with [...]
HSBC’s (HSBA) profits jump as the bank looks to Asia for growth October 30, 2017 HSBC’s third-quarter profits have jumped as the bank looks to Asia to fuel its growth. The figures For the three months to the end of September, HSBC reported quarterly profits of $4.6bn (£3.5bn), up 448 per cent from $843m at the same point last year. Read more: HSBC appoints John Flint to succeed Stuart Gulliver [...]
Fintech startup CommuterClub raises £2.3m to grow online season ticket financing from WGC and early-stage investors including tennis star Andy Murray October 30, 2017 A startup which provides financing for commuters to buy rail travel cards has landed a fresh injection of cash, City A.M. can exclusively reveal. The £2.3m for CommuterClub was led by Indian financial services firm Wadhawan Global Capital (WGC), an investor in Zopa and Goldman Sachs-backed fintech startup Neyber, with previous investors also participating. Read [...]