HSBC to hire Morgan Stanley after cutting broking ties with Goldman Sachs June 4, 2019 Banking giant HSBC is set to hire Morgan Stanley as joint corporate brokers to replace rivals Goldman Sachs. Europe’s largest lender has cut ties with Goldman Sachs in favour of rival US investment bank Morgan Stanley following a review by new chief financial officer Ewen Stevenson, Sky News reported. Goldman Sachs steered Europe’s largest lender [...]
Shares in Woodford investment trust plunge after fund suspension June 4, 2019 Shares in Neil Woodford’s investment trust plunged this morning after the former star trader was forced to suspend trading in his flagship fund as investors flocked to the exit. Woodford Patient Capital Trust shares fell more than 19 per cent to a low of 61.3p before recovering slightly to 71.54p this afternoon. Read more: Neil [...]
Michael Gove to meet President Trump in private June 4, 2019 Donald Trump is set for a one-to-one meeting with environment secretary Michael Gove after the US president requested a get-together. A source close to Gove confirmed Trump’s team asked for the meeting last night, and details are currently being ironed out. Gove met Trump in January 2017, when he interview him for the Times in [...]
Metro Bank shares recover as investors approve £375m capital raise June 4, 2019 Metro Bank shares have recovered from yesterday’s slump after investors approved the challenger bank’s £375m capital raise. Shares have risen more than five per cent today to 657p, having dropped 8.5 per cent yesterday as pressure mounted on the bank over legal claims and regulatory probes. More than 92 per cent of shareholders yesterday voted [...]
James Cleverly withdraws from Tory leadership race June 4, 2019 James Cleverly has pulled out of the race to become the next Tory leader, citing a lack of support among MPs. The Brexit minister and former deputy party chairman announced he was running for the leadership at the end of last week. In a statement, Cleverly said: “Last week I announced that I intended to [...]
Eurozone inflation slips to well below ECB target June 4, 2019 Annual inflation in the Eurozone fell considerably in May, according to official statistics released today, taking it well below the European Central Bank’s (ECB) target. Read more: The euro falls as ECB chief Draghi delivers pessimistic verdict on Eurozone economy Inflation in the euro area fell to 1.2 per cent in May, a first estimate [...]
UK M&A value plunges in run up to March Brexit deadline June 4, 2019 The value of UK mergers and acquisitions plunged in the first quarter of this year as business confidence was impacted by the March Brexit deadline. The value of deals that saw foreign companies buy UK firms fell 83.7 per cent compared to the fourth quarter of last year. Read more: US and UK M&A deals [...]
Financial services bosses are the most trustworthy June 4, 2019 Bosses in the financial services sector are the most trusted despite overall trust in chief executives falling since the beginning of the decade. Employees’ trust in their chief executives has fallen eight per cent since 2011, according to a report by The Institute of Leadership & Management published today. A series of high profile bumper [...]
Global signs Love Island podcast deal with ITV June 4, 2019 Media giant Global has secured a two-year deal to host ITV podcasts on its Global Player app and promote them across its radio stations. Global, which is the UK’s largest commercial radio company, will acquire a string of hit podcasts including Love Island: The Morning After, which coincides with the return of ITV’s wildly-popular reality [...]
‘Stuck in the ice age’: Construction industry jobs fall at fastest rate in six years June 4, 2019 Britain’s construction industry suffered yet another blow in May, as the sector lost workers at the fastest rate since 2012. Read more: House building props up construction industry The sector remains in the grip of Brexit uncertainty, analysts warned this morning. This has reduced workloads and made firms reticent to replace departing staff, according to [...]