Hays issues profit warning as political uncertainty slows hiring January 16, 2020 Recruitment firm Hays issued a profit warning today, blaming political uncertainty for a slow three months to the end of December. The group anticipates first half operating profit to be around £100m, down from the £124.1m reported in the same period last year. London-listed shares fell by as much as nine per cent in early [...]
55-year-old ex-Citigroup banker who was called ‘old’ by his boss wins age case January 15, 2020 A former Citigroup investment banker has won an age discrimination case after his boss said “you are old and set in your ways”. The Employment Tribunal Court found that Niels Kirk, a managing director of energy banking, had been unfairly dismissed following the comments by his boss, Manolo Falco. The tribunal concluded that Kirk, who [...]
IBM takes control of TSB’s IT after digital meltdown January 15, 2020 TSB today handed control of its IT systems to tech giant IBM in a deal to overhaul its banking platforms as the bank attempts to escape the shadow of a disastrous digital meltdown. Spanish bank Banco Sabadell, which has owned TSB since 2015, hired IBM for €1bn (£856m), according to Reuters. Read more: TSB Bank [...]
This is the age when most Brits achieve job satisfaction January 15, 2020 The average British worker will not be satisfied with their job until they reach the age of 45, according to research released today. A survey commissioned by global job site Indeed found that by this point in their career employees will have had eight different jobs and four major setbacks. Read more: The super-rich millennials [...]
The number of floats in London dropped to a decade-low last year January 15, 2020 Geopolitical uncertainty contributed to a subdued initial public offering (IPO) market in London last year, as listings fell 56 per cent year-on-year. In what was the capital’s quietest year for a decade, just 35 companies floated raising £5.9bn, down from 79 listings raising £9.5bn in 2018. The number of admissions to London’s junior Aim market [...]
Revolut valued at $5bn ahead of new funding round January 14, 2020 UK-based fintech Revolut is reportedly set to be valued at $5bn (£3.85bn) in an upcoming funding round. Investor Technology Crossover Ventures (TCV) is leading a funding round that is expected to close in January, according to documents seen by Financial News. The documents showed that investors had placed a pre-money valuation of $5bn on the [...]
Harry Dunn death: Chances of extradition are very low, says PM January 14, 2020 Boris Johnson today said that the chances of extradition for the wife of a US intelligence officer accused of killing teenager Harry Dunn are “very low”. Speaking to BBC, the Prime Minister said: “I think the chances of America actually responding by sending Anne Sacoolas to this country are very low. That’s not what they [...]
City’s top talent turns its back on financial services in favour of tech January 14, 2020 The financial services sector is failing to attract graduate talent amid concerns that the City is “too conservative.” Traditional City institutions are losing out to advertising agencies and technology firms as a new generation of recruits prioritises flexible working and a better work-life balance, according to a new report. Global brand specialist Siegel+Gale surveyed 1,275 20-25 year olds who were [...]
Relx buys ID Analytics for $375m January 13, 2020 Relx today said it had agreed to buy ID Analytics from Norton Life Lock (NLL) for $375m (£288m). ID Analytics will become part of Lexis Nexis Risk Solutions, part of Relx’s risk and business analytics arm and its fastest-growing division. Founded in 2002, San-Diego based ID Analytics provides credit and fraud risk solutions for enterprises [...]
Decline in German automotive production weighs on its economy January 13, 2020 Structural change and a sharp decline in automotive production in Germany is weighing on the economy, according to a report published today. The Munich-based ifo Institute estimated that the automotive industry workforce has shrunk by 1.3 per cent since the beginning of 2019, a much sharper decline than in the rest of the manufacturing industry [...]
