Fintech Week 2016: How London can become the fintech capital of the world March 2, 2016 Events like last week's Fintech Week show the government's commitment to be more than just words. But there is plenty more the government can – and must – do to ensure London cements its place as the global leader in fintech. There are several short-term pragmatic steps they could take, like setting up centres of excellence in specific fintech streams, [...]
Poundland appoints Kevin O’Byrne as chief executive as Jim McCarthy retires March 2, 2016 Poundland has appointed former B&Q boss Kevin O'Byrne as chief executive, replacing Jim McCarthy who will retire after 10 years in the role. O'Byrne will initially join as chief executive designate from 4 April, taking on the full reins on 1 July. McCarthy will remain available to the board until he retires at Poundland's AGM in September. [...]
Virgin Money’s share price soars as challenger bank confirms dividend after profits jump 53 pc March 2, 2016 Virgin Money's share price leaped eight per cent this morning after posting strong figures for its first full year as a public company, with profits soaring as customer numbers climb. The figures The challenger bank said underlying profit before tax was up 53 per cent to £160.3m for the calendar year, while net margins rose to 165 [...]
Night Tube back on track? RMT members vote in favour of new deal – and here’s the pay rises drivers have agreed March 1, 2016 Members of the biggest transport union RMT have backed a new deal in a move that could – finally – pave the way for the Night Tube to launch. The deal, which has been overwhelmingly accepted in a ballot revealed this afternoon, comes after months of wrangling between Transport for London and the unions, including TSSA and [...]
More than 70 firefighters needed to tackle “massive” Enfield fire, prompting warnings for motorists on M25 March 1, 2016 The London Fire Brigade tackled a "massive" blaze on an industrial yard in Enfield, which affected motorists on the M25 this morning. In total, 10 fire engines and 72 firefighters and officers were needed to bring the fire, on Whitewabbs Lane, under control. The Brigade was called just after 2am this morning, and the fire was under control by 6am. [...]
Barclays shares suspended from trading after falling 11 per cent March 1, 2016 Trading in Barclays was suspended this morning after the bank's share price plummeted more than eight per cent, following another dismal set of results and news of a major restructure. Barclays' share price tumbled 11 per cent in mid-morning trading, before being halted briefly. Trading was resumed shortly afterwards, but the share price was still down around 10.6 [...]
London house prices: UK capital is most expensive place in the world for a company to employ staff, as real estate recovery shifts from east to west March 1, 2016 London has been named the world’s most expensive city to accommodate an employee for the third year in a row, maintaining its position ahead of New York, while costing more than double cities like Sydney, LA and Chicago. San Franciso may be home to a growing number of Silicon Valley workers but despite prices soaring 13 [...]
Barclays’ former boss Antony Jenkins pockets £505,000 bonus despite being sacked in July March 1, 2016 Barclays' ousted chief executive Antony Jenkins has picked up a cool £505,000 bonus, taking his total remuneration to £3.4m for the year. This is a 40 per cent drop on last year's total pay package – and half the bonus he got for 2014 – but it's still pretty healthy considering Jenkins was sacked in July, with [...]
UK Oil & Gas share price soars after claiming “unequivocal proof of concept” at Gatwick Gusher March 1, 2016 UK Oil & Gas's share price soared more than 15 per cent this morning after claiming it has "unequivocal proof of concept" in its Gatwick Gusher wells, claming tests show the flow from Horse Hill could be one of the largest ever found onshore in the UK. Its most recent tests, at Upper Kimmeridge, have found "100 [...]
Barclays’ share price drops as profits and revenues fall on non-core losses – but CET1 ratio improves March 1, 2016 Barclays' share price fell this morning after revealing a slump in profits and revenues for the full year, and a major new strategy ahead of future ring-fencing. The figures Barclays' share price fell six per cent in early trading as investors digested the bank's full year results – Jes Staley's first as chief executive – which showed further declines [...]
