Reports: Deutsche Bank cutting 23,000 jobs September 15, 2015 Deutsche Bank is laying off a quarter of its workforce, according to news agency Reuters. Some 23,000 jobs are affected, mostly in the bank’s technology and back office operations and through selling its PostBank unit, sources have said. The layoffs come just three months after new chief executive John Cryan took over the helm of [...]
Peckham High Line: Boris Johnson backs plans for Peckham rails tracks to be turned into New York’s High Line-style urban park September 15, 2015 Boris Johnson has thrown his weight behind a project to turn disused railway tracks in Peckham into an “elevated urban park” to rival New York’s High Line. The London mayor said he will invest £285,000 in 20 local community projects across 15 boroughs as part of his £9m High Street Fund set up last year [...]
British Land’s Leadenhall Building Cheesegrater has two new tenants Petredec and Fidelis Insurance September 15, 2015 The City's iconic Cheesegrater has two new tenants, leaving just five floors available at the Leadenhall Building. British Land and Oxford Properties, the developers behind the Cheesegrater (aka Leadenhall Building), today announced that global energy company Petredec and Fidelis Insurance were moving in. Oil and gas company Petredec, which will use the office space for its European [...]
Aberdeen Asset Management buys Advance Emerging Capital September 15, 2015 FTSE100-listed Aberdeen Asset Management is to buy investment manager Advance Emerging Capital outright. The deal for AEC – which currently has £409m assets under management across a range of funds, including the Advance Developing Markets fund and the Advance Frontier Markets fund – is expected to complete during the fourth quarter. The [...]
iPhone 6s sales on track to beat Apple’s records September 15, 2015 Apple said yesterday that sales of its new iPhone 6s and 6s Plus are on track to beat last year’s record-breaking iPhone 6 and 6 Plus sales on the first weekend they hit the shops. “Customer response to iPhone 6s and iPhone 6s Plus has been extremely positive and pre-orders this weekend were very strong [...]
Hastings Insurance Group IPO: Insurer looks to raise £180m in London float September 15, 2015 Hastings Insurance Group will kickstart its plans to float on the stock market today, City A.M. understands. The insurer is set to announce that it wants to raise as much as £180m from the IPO, according to Sky News, which first reported the story. Hastings declined to comment. The firm, which specialises in motor insurance, [...]
IBM hires ex-Thomas Cook boss Harriet Green to lead new data-focused business September 14, 2015 IBM has confirmed the appointment Harriet Green, former chief executive of Thomas Cook, to lead two new business divisions – the Internet of Things and Education Business. In a statement, the New York-based technology company said these units were being launched to “apply the company’s considerable strengths in Big Data, advanced analytics and cognitive [...]
HSBC latest to withdraw as nomad on Alternative Investment Market September 14, 2015 HSBC is the latest bank to leave Aim, the London stock exchange’s market for smaller growing companies. The bank has withdrawn its status as a nominated adviser (nomad), making it the latest major banking adviser to be leaving the Alternative Investment Market. HSBC hasn't had any clients on the market for over a year, and [...]
Santander UK doubles fees for 123 current account holders, blaming low interest rates and tough banking regulations September 14, 2015 Santander UK is more than doubling its fees on 123 current accounts, raising the yearly rate to £60. Three million customers are affected by the fee hike, which the Spanish banking giant is blaming on changes in banking regulations and low interest rates. Monthly fees will be raised to £5, more than twice today’s rate [...]
Metro Bank targets wealthy customers with new head of private banking Julie Barnsley September 14, 2015 High street challenger Metro Bank has announced a new head of private banking services, Julie Barnsley. The bank hopes to draw in wealthier clients with Barnsley’s appointment, and capitalise on the recent surge in demand for their private banking services, which now accounts for one fifth of the business. Read more: Financial challengers Zopa and Metro [...]