London Stock Exchange considers selling Milan bourse to secure Refinitiv deal July 31, 2020 The London Stock Exchange has said it is considering selling part or all of its Italian stock exchange group in a bid to secure its takeover of Refinitiv. The company said it had begun “exploratory discussions” which could result in MTS, Borsa Italiana’s bond trading platform, or the entire Italian arm being sold. “There can [...]
TSB swings to a loss due to rise in impairment charges July 31, 2020 TSB has reported a £66m pre-tax loss as credit impairment charges increased by £87.5m in the first half of the year. The figures TSB reported a statutory loss before tax of £65.5m, compared to a pre-tax profit of £21.1m in the first half of 2019. The bank said credit impairment charges increased by £87.5m, which [...]
Barclays urges staff back to the office as HSBC eyes September return July 29, 2020 Barclays boss Jes Staley has indicated he wants employees to return to the office, as HSBC reportedly tells its staff they can work in Canary Wharf from September. Speaking to Bloomberg TV today, Staley said: “It is important to get people back together in physical concentrations.” He has previously said big city offices “may be [...]
UK pension scheme invests £5.5bn into ‘environmentally friendly strategies’ July 29, 2020 Britain’s largest pension scheme Nest has pledged to tighten its climate change policy with an investment of £5.5bn into environmentally friendly strategies. The government-backed scheme said it would decarbonise its £12bn investment portfolio in a bid to tackle climate change. Nest said it aims to be “net-zero” across its investments by 2050 or earlier, with [...]
Smith and Nephew swings to a loss as sales decline during lockdown July 29, 2020 Medical device maker Smith and Nephew reported a huge drop in revenue as leading to a loss before tax of $34m. The figures Smith and Nephew reported an 18.7 per cent drop in revenue in the first half of the year, leading to a loss before tax of $34m (£26.2m). It also reported an operating [...]
Deutsche Bank boosted by bond trading amid pandemic July 29, 2020 Deutsche Bank reported its biggest surge in fixed income trading revenue in eight years amid the coronavirus crisis. The figures Deutsche Bank reported pre-tax profit of €158m compared to a pre-tax loss of €946m in the second quarter of 2019. It also reported net profit of €61m compared to a net loss of €3.1bn in [...]
Wizz Air shareholders revolt against CEO bonus July 29, 2020 Wizz Air shareholders have voted down its directors’ executive pay for the year, a week after shareholders raised concerns about a possible bonus payment to its chief executive. CEO Jozsef Varadi was set to receive a £485,000 bonus despite Wizz Air missing its profit target for the year to 31 March. More than half of [...]
Jupiter Fund Management profit halves as outflows decline July 29, 2020 Jupiter Fund Management reported that profit halved in the first half of the year as net assets fell after outflows jumped during the pandemic. The figures Jupiter reported pre-tax profit fell by 50 per cent to £40.8m and assets under management (AUM) was down 8 per cent to £39.2bn as net fund outflows jumped to [...]
HSBC to ‘at least double’ black employees in its upper ranks July 28, 2020 HSBC has reportedly told staff it will “at least double” the number of black employees in its upper ranks but said it will have to collect the data first. In an internal memo first seen by the Guardian, chief executive Noel Quinn admitted that the bank’s failure to publish data on ethnicity had created a [...]
Germany advises against travel to Spain’s virus-hit regions July 28, 2020 Germany has advised holidaymakers to avoid travel to several regions in Spain that have seen a rise in the number of coronavirus cases. “We currently advise against unnecessary tourist trips to the autonomous communities of Aragon, Catalonia and Navarre due to high infection numbers and local lockdowns,” the foreign ministry said today. Many European countries [...]
