‘Bond market tantrum risks’: Gilt traders brace for Labour leftward pivot as Starmer future uncertain
Nine up-and-coming fintech startups to watch (and Lloyds thinks so too) August 2, 2016 A handful of startups from around the world are hoping to disrupt the big banks with new innovations after being chosen as ones to watch in the world of fintech by one of London's top accelerators and top global businesses. Startupbootcamp's fintech programme, backed by the likes of Lloyds and PwC, have chosen nine new up-and-coming early stage fintech [...]
New York deli Dean & DeLuca is setting up shop in Mayfair August 2, 2016 Famous New York deli Dean & DeLuca is bringing its gourmet food offering to Mayfair. The shop – favoured by celebrities such as Taylor Swift and Helen Mirren – is opening on 117 Mount Street early next year, joining big name brands such as Christopher Kane and Roksanda. Read more: London's most exclusive postcodes now home [...]
Commerzbank shares tank as pre-tax profits almost half and it warns there could be more to come August 2, 2016 Shares in Commerzbank have plummeted to their lowest-ever level today, after the bank revealed a slump in profits in its half-year results and warned the current business environment could continue to hamper its performance. The figures Pre-tax profits at the bank fell to €575m (£485.8m) for the first half of 2016, down from €1bn the year before. Meanwhile, revenues before [...]
This blockchain startup just hired a top chief from RBS’s investment bank August 2, 2016 The blockchain startup founded by a well known former JP Morgan executive has hired another top financier, the latest in a string of hires as the company expands. Carol Mathis, the chief operating officer of Royal Bank of Scotland's investment banking arm has joined Blythe Masters' Digital Asset Holdings, the fintech firm backed by Santander, JP Morgan [...]
Bookmaker William Hill snaps up gaming software firm Grand Parade to keep up with digital shift August 2, 2016 William Hill has made moves to catch up with the gambling industry's shift to digital with the £13.6m acquisition of digital gaming software firm Grand Parades. Recently a huge amount of merger and acquisition activity has swept through the gambling sector. Paddy Power and Betfair came together in a £5bn tie-up, while Gala Coral and Ladbrokes merged in a £2.2bn [...]
Santander UK makes bid for RBS’ Williams & Glyn unit August 2, 2016 Santander UK has put forward a bid to buy what would be RBS' Williams & Glyn unit. RBS was instructed to sell the Williams & Glyn unit, which is more than 300 branches strong, by the end of 2017, as part of its £45bn state bailout deal. However, the bank warned in April that it might [...]
Labour’s faces electoral “Armageddon” if it splits in the aftermath of its leadership election, the party’s largest individual donor has warned August 2, 2016 Labour faces “Armageddon” if it divides the aftermath of this summer's leadership challenge, according to the party's largest individual donor. The party is set to choose a new leader on September 24, but millionaire businessman John Mills said failure to unite afterward the contest would be a disaster for its electoral prospects. “I really hope [...]
Engineer Rotork tumbles as it warns on impact of low oil prices August 2, 2016 Rotork fell to the bottom of the FTSE today as its clients deferred spending due to the oil price downturn. The figures Rotork's group revenue fell 3.7 per cent to £263.9m in the first six months of 2016, driven by weak order growth last year, and was down from £274.2m a year earlier. The company's pre-tax profit fell 32 per [...]
Before the bell: What you need to know before the US market open August 2, 2016 Japan has launched a £34bn stimulus package, the Reserve Bank of Australia has chopped its its benchmark interest rate to a record low 1.5 per cent and Europe's banks are getting sold off. Here's what you need to know before the US market open at 2:30pm. The US pre-market is pointing down ahead of the open. The S&P is [...]