Compliance salaries set to rocket in 2016, as misconduct fallout takes the spotlight November 23, 2015 Junior compliance associates could be raking it in next year, with salaries expected to rise 6.8 per cent in 2016, well above the average three per cent salary rise forecast across all professions. According to figures released today by Robert Half, junior compliance associates can expect the third biggest salary percentage increase of all the [...]
Chinese brokerage firm Guotai Junan International shares fall after chief executive Yin Fung goes missing November 23, 2015 Shares in Guotai Junan International fell more than 17 per cent today at the Chinese brokerage firm after its boss mysteriously disappeared. Guotai Junan said it had been unable to get in contact with Yin Fung, chairman of the board, executive director and chief executive since Wednesday 18 November, in a statement to the Hong Kong Stock exchange today. [...]
HSBC investors back mooted move from UK November 23, 2015 Major HSBC shareholders have said they would back the bank if it were to relocate away from London. HSBC announced earlier this year it was currently reviewing whether it would remain in the UK, with Hong Kong and the US widely regarded as possible options. A spokesperson for Aberdeen Asset Management, one of HSBC’s top 10 [...]
Insurer Towergate reports fall in income to £87m, down 10 per cent, in third-quarter 2015 results November 23, 2015 Towergate Insurance announced today that it has seen its group income topple to £87m for its third quarter of 2015, down 10 per cent compared to £97m last year. Income for the year to date was also down 10 per cent, falling to £271m for the nine months ended 30 September 2015 from £300m for the same period last [...]
Argos owner Home retail group share price jumps amid takeover talk November 23, 2015 Shares in Home Retail Group shot to the top of the FTSE 250 today, amid speculation that the Argos owner is being circled by a number of private equity firms. Shares in Milton Keynes-based company, which also owns Homebase, jumped as much as seven per cent to 110.6p per share in early morning trading. However, Home Retail Group has still lost nearly half [...]
The Eurozone is growing at its fastest rate for four-and-a-half-years – Markit’s purchasing managers’ index November 23, 2015 The Eurozone economy is growing at its fastest rate for four-and-a-half-years, but is unlikely to be growing fast enough to deter policy makers from expanding the currency-bloc’s €1.1 trillion (£770bn) asset purchase programme, economists have said. Markit’s flash purchasing managers’ index (PMI) – compiled from a survey of businesses and released this morning – climbed [...]
How innovation can return UK manufacturing compete with China and return to the global stage November 23, 2015 Britain's manufacturing industry is suffering its worst decline in years, nevertheless this trend is far from terminal. There are many innovations being thought up in Britain that could help boost its performance internationally. Specifically, by encouraging collaboration amongst inventors and manufacturers in the UK, innovations can be developed on home soil, which would bring crucial [...]
UK house prices have reached an all-time high – but price growth is slowing in London November 23, 2015 UK house prices surged last month, taking the average cost of a home to an all-time high – but London is falling behind. The country's average rose by 1.9 per cent in October, taking the annual growth to 10.5 per cent. That means the national average cost of a house now stands at £224,242, according [...]
Switerland’s Alternative Bank Schweiz world’s first bank to apply negative interest rates to savers and charge them for deposits November 23, 2015 A small Swiss bank has caused a stir, after becoming the world's first financial institution to apply negative interest rates to individual clients. While a number central banks around the world have taken benchmark interest rates below the zero mark, individual savers had been shielded from this, meaning they weren't charged to keep cash in [...]
How low can oil prices go? Here’s what the industry thinks November 23, 2015 Venezuelan oil minister Eulogio del Pino yesterday warned that the Organisation of the Petroleum Exporting Countries (Opec) cannot allow an oil price war, and urged it to take action to stabilise the crude market soon. In response to the question of how low oil prices could go next year if Opec fails to take action, del Pino said "mid-20s". With the future direction of [...]