RBS profits sink as bank warns future earnings face pressure from Brexit uncertainty April 26, 2019 RBS profits fell in the first three months of 2019, it revealed a day after its chief executive announced his intention to resign. Ross McEwan yesterday announced he would step down after five-and-a-half years at the helm, saying he had achieved his strategy to refocus the bank after its £45.5bn government bailout. However, today the bank warned [...]
Bramson may lose the battle but still win the war in his clash with Barclays’ board April 26, 2019 Arguments about the merits of Barclays’ voyage into investment banking feel almost as old as the industry itself. Next week’s showdown between the lender’s board and Edward Bramson, who wants to muscle his way onto it, might prove to be a mere footnote in that story – or, ultimately, warrant a full chapter. Bramson will [...]
CBI: UK retailers enjoy sales boost for the first time in five months April 25, 2019 UK retail sales grew for the first time in five months in April, according to a major business group, in the latest sign that consumer spending is holding up despite ongoing political uncertainty. Read more: Retail sales jump higher than expected in March However, Easter falling later this year probably helped the figures, said the [...]
Fieldfisher merges with Irish firm McDowell Purcell in Brexit-related expansion April 25, 2019 City law firm Fieldfisher has struck a merger deal with Irish firm McDowell Purcell as it looks to secure a route into the EU market post-Brexit. The deal gives Fieldfisher a Dublin office and 16 new partners and 50 lawyers. A string of UK and US law firms have established Dublin bases following the 2016 [...]
Tory MPs decide against party rule change to oust Theresa May April 25, 2019 Influential Tory MPs have decided against a party rule change that could have forced Theresa May out as Prime Minister. The 1922 committee of Tory MPs had been meeting over the past couple of days to mull changing rules that would have allowed another leadership challenge against May despite her winning a vote of no [...]
Leaving EU behind: The potential winners and losers from a soft Brexit deal April 25, 2019 After three failed votes, Prime Minister Theresa May has another six months to get her Brexit deal through the House of Commons. Despite her securing an extension from the EU, the Brexit deadlock seems as intractable as ever. Still, some form of soft Brexit remains a likely option, so it’s worth exploring the potential impact [...]
Backbench Tory MPs table further talks on Theresa May leadership challenge April 24, 2019 A group of influential Tory MPs will meet again today to discuss the possibility of ousting Theresa May as Prime Minister after talks last night failed to reach a decision. The 1922 committee is mulling a change to the party rulebook that would allow them to launch a fresh challenge against May, despite her winning [...]
WH Smith: High-flyer divides City April 24, 2019 | City Talk By Graeme Evans from interactive investor. Latest results are fuel for another assault on a record high. Here’s why Smith splits the Square Mile. With £1 billion worth of dividends or buybacks since 2007, WH Smith (LSE:SMWH) shareholders can have few complaints about the retailer’s tried and tested strategy when it comes to selling stationery, [...]
Theresa May breaks the record for most unpopular Conservative minister April 24, 2019 Theresa May has broken the record for the least popular Conservative cabinet minister to date, as ranked by Tory party members, over her decision to postpone Brexit. The Prime Minister’s net satisfaction rating plummeted to -73.5 this month from -51.2 in March, according to a poll by Conservative Home. Read more: Theresa May seeks new vote [...]
Runners and riders: Meet the candidates who could replace Mark Carney as the Bank of England governor April 24, 2019 Speculation has begun over the next governor of the Bank of England after the Chancellor Philip Hammond launched the hunt for Mark Carney’s successor this morning. Carney’s tenure began amid post-crisis reform of financial system regulation but his latter years have been characterised by Brexit, which his successor will also have to navigate through. Read [...]