Talk of a US recession in 2020 is a little premature October 16, 2018 Several analysts have come out of the woodwork in the past few weeks predicting not just a US growth slowdown, but the start of a recession in 2020. These calls were amplified after a week of stock market volatility. Bond vigilantes are pointing to rising real yields (that have been adjusted for inflation), while bear [...]
HSBC hiring senior former JP Morgan banker to co-head its global investment bank October 11, 2018 HSBC is set to announce the hire of a senior former JP Morgan banker to co-head its global investment bank. It is understood that the hire of Greg Guyett, who held senior roles at JP Morgan in the UK, US and Asia, will be announced in the next few days. Guyett’s hire, first reported by [...]
Goldman Sachs to open first non-London UK office October 11, 2018 Goldman Sachs is set to open an office in Milton Keynes – the investment bank's first UK office outside of the capital – to serve as a customer centre for its new retail banking platform Marcus. The office, which will open in summer 2019, will initially house 150 staff with the option to extend employee numbers to [...]
Royal Bank of Scotland introduces 1.5 per cent savings rate days after Goldman Sachs October 11, 2018 Royal Bank of Scotland (RBS) today announced a new savings rate of 1.5 per cent just weeks after Goldman Sachs entered the British market. The instant access savings account will pay the annual rate, which will put it near the top of the best-buy tables for some customers, up to the first £10,000, whereas Goldman's [...]
N Brown shares plunge as ‘disappointing’ offline sales hit revenues October 11, 2018 Fashion retailer N Brown took a kicking from investors at the opening bell this morning, as its share price dived more than 20 per cent amid a “disappointing” set of results. The JD Williams and Simply Be owner revealed a drop in product revenue during the six months to 1 September, as offline sales dragged [...]
Does Goldman Sachs retail bank Marcus really warrant all the hype? October 10, 2018 Marcus sounds worlds apart from the financial beast that is Goldman Sachs. But that’s the point – Marcus is meant to sound approachable, a bank for normal people. Named after one of the company’s founders, Marcus Goldman, this new challenger bank has proved popular since it first launched in the US back in 2016. It’s also [...]
Goldman Sachs’ retail bank attracts 50,000 customers in first two weeks October 9, 2018 More than 50,000 customers have signed up to investment banking giant Goldman Sachs' retail bank Marcus since it launched two weeks ago. The brand, named after co-founder Marcus Goldman, offers an annual equivalent rate of 1.5 per cent, including a 12-month bonus rate of 0.15 per cent. Read more: Goldman Sachs creates savings account “We’ve been [...]
London comes top in overseas investment ranking as Asian demand flourishes October 8, 2018 London has kept its crown as the world’s most popular city for global real estate investment, according to a new report that sheds light on the burgeoning overseas demand for commercial property in the capital. Buoyed by an influx of Asian money, London has now held its position as the top city for cross-border investment [...]
Character assassination: Business bosses are starting to realise that Twitter has a price September 30, 2018 It is not boardroom discord or tumbling profits that are causing mayhem for Elon Musk, the maverick and publicity-hungry Tesla chief who is set to lose his role as chairman. It’s his Twitter habit. His case exemplifies how Twitter, the social media platform that can send 280 poorly chosen characters right round the world in [...]
The guardians of the art industry: How a former trader is giving old buildings a new lease of life September 28, 2018 Scott Franklin is like the popular kid at school. When the former City trader shows me around the renovated Victorian warehouse in Clerkenwell, everyone we pass seems pleased to see him – which strikes me as unusual for someone whose role resembles that of a landlord. Franklin, who is the founder of Property Guardian [...]