Metro Bank’s Vernon Hill to step down despite saying he’d die in job July 23, 2019 Metro Bank is set to part ways with its controversial chairman and co-founder Vernon Hill just two weeks after he said he would “probably die” in the role. Read more: Metro Bank drafts in two senior directors The high-street lender will announce it is launching a search for a new chairman when it posts its [...]
What is PM Boris Johnson worth? More than £300,000 in City donations July 23, 2019 Newly-elected Tory party leader Boris Johnson collected over £300,000 in donations from City and business figures in the build-up to his campaign to be the next Prime Minister. Johnson, who received over 90,000 votes in the Tory leadership election, will be appointed Prime Minister tomorrow after Theresa May hands in her resignation. Read more: Boris [...]
Regulators delay introduction of new tougher rules on derivatives after industry pleas July 23, 2019 Global regulators have delayed the introduction of new rules that would require smaller fund managers to set aside cash to cover their derivatives transactions. The Basel Committee on Banking Supervision (BCBS) and the International Organisation of Securities Commissions (IOSCO) said today the new rules would be implemented from September 2021, a delay of a year. [...]
Interserve names former Seadrill finance chief as new CFO July 23, 2019 Interserve has appointed former Rolls-Royce finance boss Mark Morris as its chief financial officer. Morris, who was previously finance boss at drilling contractor Seadrill, will join the outsourcer on 1 September. Read more: Interserve losses narrow to £111m Last year, he helped the firm through a major restructuring to keep the driller afloat. Seadrill, once [...]
BoE chief economist cautions against interest rate cut with employment strong July 23, 2019 Bank of England chief economist Andy Haldane has said he would be “very cautious” about cutting interest rates in the near future as the economy is stronger than it appears. Read more: Banks can cope with no-deal Brexit but risks remain, says BoE Speaking in Scunthorpe today he said low unemployment and relatively high consumer [...]
Stobart suffers bloody nose as investors revolt against pay July 23, 2019 A campaign by former Stobart boss Andrew Tinkler to oust chief executive Warwick Brady floundered today but a chunk of investors gave the firm a bloody nose in a spat over pay. Tinkler, who has been engaged in a number of court battles with Stobart over his failed attempt to oust former chairman Iain Ferguson [...]
Vodafone chairman defends dividend cut as firm fends off pay revolt July 23, 2019 Vodafone has defended its controversial decision to slash its dividend as the firm fended off threats of a shareholder revolt. Chairman Gerard Kleisterlee admitted the last year had been a “low point” for Vodafone and the industry as a whole, but insisted the decision to slash the payout had not been taken lightly. Read more: [...]
Boris Johnson would be in Slytherin at Hogwarts, voters say July 23, 2019 Boris Johnson may be incredibly popular among Conservatives, but the general public’s impression of him is rather less positive. In fact, when asked which Hogwarts house the soon-to-be Prime Minister would belong in, 42 per cent of people answered Slytherin. Read more: Businesses react to Prime Minister Boris Johnson However – that may be no [...]
Is India the world’s future investment hub? July 23, 2019 | City Talk Could the investment profession's future be in India?
IMF warns over Brexit and trade wars as it cuts global growth forecast July 23, 2019 The International Monetary Fund (IMF) has cut its forecast for global economic growth over the next two years and said that a disorderly Brexit could damage global investment and trade. Read more: Race begins for IMF top job as Christine Lagarde submits resignation The Fund lowered its prediction for global growth by 0.1 percentage point [...]