Financial institutions beware – big tech is moving into banking March 6, 2019 Despite Brexit uncertainties and stock market collapses, British banks concluded their 2018 earnings season with improved performance. Profitability increased thanks to cost drives, while balance sheets strengthened through derisking assets. Banks’ ability to grow revenue, however, remains a perennial challenge. The quest to growth may be harder in the digital age. In a recent report [...]
Asset management firm Invesco lobbies US Securities and Exchange Commission over Mifid II implementation March 4, 2019 Global asset management firm Invesco is lobbying for the US financial regulator to allow it to implement Mifid II rules on paying for investment research. The firm attended a meeting with the Securities and Exchange Commission (SEC) last year to push for changes to rules which ban brokers from receiving research payments unless they are [...]
Arrow Global shares rise nine per cent on boosted full-year profits February 28, 2019 Shares in Arrow Global climbed nine per cent this morning as the credit management services provider reported boosted 2018 profits. The firm’s share price hit 197.2p after it reported its 2018 full-year results, up 9.6 per cent from 179.8p, before dropping slightly to 195.2p this afternoon. The figures Arrow announced that underlying profit after tax [...]
Asset management firms ‘inconsistent’ with cost disclosure, City watchdog warns February 28, 2019 Asset management firms are inconsistent with costs and charges disclosure compliance, the city watchdog warned today. The Financial Conduct Authority (FCA) said asset managers must ensure they are “clear, fair and not misleading” in order to avoid confusion over costs for customers. Read more: Asset management firms face overhaul of fund disclosure The FCA's investigation into disclosure [...]
US alternative asset management firm Ares to lend £1bn to Daisy Group for minority investor buyout February 26, 2019 US asset management firm Ares will invest more than £1bn in business telecoms firm Daisy Group to allow the firm's founder Matthew Riley to buy out a minority investor. The investment will also be used to refinance the company’s existing credit facilities, and will support the firm’s future growth plans. Read more: Daisy calls FTSE [...]
Blackrock chief executive Larry Fink calls UK ‘irresponsible’ over Brexit uncertainty February 25, 2019 Blackrock chief executive Larry Fink has slammed the UK as “irresponsible” due to the continued uncertainty surrounding Brexit. The boss of the world’s largest asset management fund told CNBC that a lack of understanding surrounding the UK’s future relationship with the EU has forced firms to take action in order to prepare. Read more: Businesses, [...]
Is this popular measure of stock market value giving a misleading “sell” signal? February 25, 2019 | City Talk One of the most widely watched measures of stock market value, the cyclically-adjusted price to earnings ratio (CAPE), has been giving off a screaming “sell” signal for the US market in the past few years. Last year it rose to a level not seen in its almost 140 year history, other than during the peak [...]
FCA hands £415k in fines to investment groups over float collusion February 21, 2019 The UK’s financial watchdog has slapped two investment management groups with fines for breaking competition rules by sharing information ahead of an initial public offering (IPO). The Financial Conduct Authority (FCA) fined Hargreave Hale £306,300 and River and Mercantile Asset Management (Raman) £108,600. It said the firms had shared “strategic information”, including their intentions on pricing [...]
The rubbish revolution: How to profit from plastic policy changes February 21, 2019 It is estimated that eight million tonnes of plastic packaging end up in the world’s oceans every year. The plastic problem has jettisoned into social consciousness over recent years, helped by TV programmes like Blue Planet and Plastic Ocean. Now our lives are littered with concerns about the impact of this material on the environment. [...]
Interserve’s rebel shareholder Coltrane ups stake in struggling outsourcer February 20, 2019 The rebellious shareholder trying to thwart outsourcing giant Interserve’s rescue deal has upped its stake in the firm, "putting its money where its mouth is" and piling more pressure on the contractor. Coltrane Asset Management, a 27.3 per cent stakeholder which previously owned only 17.5 per cent through shares and 9.8 through other financial instruments, launched [...]