Metro Bank share price makes further gains after successful bond sale and Vernon Hill exit October 3, 2019 Metro Bank’s share price recovered further gains in its share price this morning following a busy day involving the departure of its controversial chairman and a successful bond sale. Shares in the under-fire lender rose more than five per cent to 240p after the bell this morning, adding to a 26 per cent rise during [...]
Imperial Brands CEO Alison Cooper quits after profit warning October 3, 2019 The chief executive of cigarette maker Imperial Brands has announced she will step down from the role. Alison Cooper’s departure comes after the firm issued a profit warning amid regulatory crackdowns on e-cigarettes in the US. Read more: US vaping deaths hit growth at Imperial Brands Last week the company said that a spate of [...]
Pensions watchdog cracks down on dodgy data October 2, 2019 Britain’s pensions watchdog has launched a crackdown on poor record-keeping by schemes, ordering them to urgently review their data to make sure savers get the retirement pay they are entitled to. The Pensions Regulator (TPR) is asking the trustee boards of 400 pension schemes to conduct a data review within six months. These schemes are [...]
PM poised to prorogue parliament again October 2, 2019 The Prime Minister is poised to prorogue parliament for a second – shorter – time, in order to bring forward a Queen’s Speech on the same date of 14 October. The government has been scrutinising the Supreme Court’s recent ruling that Number 10’s initial attempt to prorogue parliament for five weeks was unlawful. However the [...]
EU27 to ‘stick together’ after UK Brexit blueprint revealed October 2, 2019 Angela Merkel has signalled that the EU27 will maintain a united front in response to Boris Johnson’s new Brexit proposals, published just minutes ago. Speaking from Berlin, where she is hosting Dutch Prime Minister Mark Rutte, Merkel said the text would be closely considered, adding: “It’s important that we stick together as 27,” the BBC [...]
Boris Johnson reveals Brexit ‘final offer’ to Brussels October 2, 2019 The Prime Minister has revealed his long-awaited proposals, which he argues removes the need for the Irish backstop and paves the way for an 11th-hour Brexit deal to be clinched. Boris Johnson today wrote to the president of the European Commission Jean-Claude Juncker telling him the proposals allow for “a meaningful Brexit, in which UK [...]
From big hitters to big quitters: Three FTSE resignations surprise the City October 2, 2019 A trio of City big-hitters shocked the Square Mile this morning after revealing plans to resign from their companies. Tesco boss Dave Lewis, Standard Life Aberdeen fund veteran Martin Gilbert and Metro Bank chairman Vernon Hill all said today that they will be leaving their posts. The triple-whammy of surprise announcements was met with mixed [...]
UK’s ‘Two borders, four years’ Brexit offer gets mixed backing October 2, 2019 Boris Johnson’s “final offer” on Brexit has already been rejected by some of the key players, hours before being officially unveiled. As reported by City AM last night, the Prime Minister is set to submit the UK’s legal text to Brussels later today, coinciding with a keynote speech at the Conservative party conference in Manchester. [...]
Martin Gilbert to leave Standard Life Aberdeen and join fintech Revolut October 2, 2019 Veteran investor Martin Gilbert is stepping down from Standard Life Aberdeen next year, calling time on a high-flying career as one of the City’s most prominent asset managers. Poised to take on a new role as chair of fintech giant Revolut, Gilbert said this morning that he will not seek re-election as vice-chairman of the [...]
Sajid Javid confirms budget will take place later this year October 1, 2019 Sajid Javid has confirmed that a budget will take place later this year. The chancellor said there would be a budget in “due course” later in the year following on from last month’s one-year spending round, in which he announced an increase in funding for the NHS, education and the police. Read more: Sajid Javid [...]