Rolex giant Watches of Switzerland begins London IPO debut with £650m valuation May 30, 2019 The UK’s largest seller of Rolex watches has begun life as a listed firm in the Square Mile today, having priced its shares towards the top end of the range it had targeted. Investors start trading in Watches of Switzerland on the London Stock Exchange today after the firm priced its shares at 270p, valuing [...]
Challenger banks struggling to compete with big five banks on cash deposits, study finds May 30, 2019 Challenger banks are struggling to break the stranglehold of the big five banks on the UK's £1.3 trillion cash deposit market, despite often paying better interest rates. The UK's big five banks – Barclays, Lloyds, HSBC, Santander and the Royal Bank of Scotland – hold £827bn of the UK's household deposits, a market share of [...]
UK banks: What to make of Lloyds, RBS and Barclays? May 29, 2019 | City Talk By Graeme Evans from interactive investor. Having underperformed since April's stock market peak, here's what to expect from the domestic lenders. With UK banks making heavy weather of Q1 results and the Brexit shackles still in place, there's a clear lack of momentum behind shares of Lloyds Banking Group (LSE:LLOY), Barclays (LSE:BARC) and The Royal [...]
‘Escalation scenario’ increasingly likely in US-China trade war, warn Barclays analysts May 24, 2019 An “escalation scenario” is becoming “increasingly likely” in the US-China trade war, analysts at Barclays have warned, as China mulls its options for retaliation against US tariffs. Read more: China warns of trade repercussions after Huawei ban The Barclays note came after tough talk from China on the trade conflict, with President Xi Jinping this week [...]
Trainline will float 25 per cent of share capital in ‘£1.5bn’ London IPO May 22, 2019 Trainline has announced its intention to file for an initial public offering (IPO) today with plans to float at least 25 per cent of its issued share capital on the London Stock Exchange. Read more: Trainline mulls £1bn sale as IPO plans build up head of steam The UK rail bookings app's owner, Victoria Investments, could also [...]
Watches of Switzerland targets £660m London listing May 21, 2019 Luxury retailer Watches of Switzerland said today it is targeting a London float that could hit a valuation of £660m. The company sells luxury watch brands such as Rolex, Patek Philippe, Cartier and Hublot. Read more: Jaguar sues watchmaker Christopher Ward over D-Type watches It has 125 shops in the UK and 21 in the [...]
Barclays, Ruby Wax and mental health: How the banking giant is tackling stress in the City May 16, 2019 Square Mile careers are stereotypically fuelled by mantras such as "work-hard, play-hard", achieving "inbox zero", "surviving the rat race". All are excuses for raising your tolerance to stress. As a result the career pathways of the City are often littered with burned-out workers. Read more: Wellbeing should be top of the business agenda Unsurprising, stress [...]
Barclays and the Royal Bank of Scotland among five banks hit with €1bn fine for forex rigging May 16, 2019 The EU Commission has fined five banks €1.07bn (£940m) for rigging foreign exchange markets for 11 currencies, it announced today. Competition regulators fined Barclays, The Royal Bank of Scotland (RBS), Citigroup, JP Morgan and MUFG Bank, while UBS was not fined as it revealed the existence of the rigging to the regulator. In the first [...]
Trainline owner mulls £1bn sale as IPO plans build up head of steam May 15, 2019 The owner of ticketing firm Trainline is reportedly exploring a sale of the company alongside plans for a £1bn stock market listing. Read more: UK's biggest travel booking app Trainline considers £1bn flotation US investment giant KKR, which has owned Trainline since 2015, has approached a number of private equity groups to gauge interest in [...]
Travelex owner Finablr launches London IPO at reduced price in tough market conditions May 15, 2019 United Arab Emirates-based payments company Finablr floated in London today at a reduced price to reflect difficult market conditions. The Travelex-owner said it would raise £306m to give the business a market capitalisation of approximately £1.225bn. Read more: Travelex-owner Finablr to raise $200m in London listing The offer price has been set at 175p, well [...]