Bank Governor comes in ahead of guidance April 27, 2015 A RECORD 37,500 people completed the 26.2-mile journey through the capital yesterday for the 35th annual London Marathon, with hundreds of City workers taking part including Bank of England governor Mark Carney. The 50-year-old Canadian completed the marathon in a faster than expected three hours and 31 minutes, raising an equally impressing £60,000 for Cancer [...]
Deutsche Bank profits cut in half by litigation costs April 27, 2015 DEUTSCHE Bank’s profits were slashed in half by soaring litigation costs in the first quarter, the lender announced yesterday, after it settled a £1.7bn Libor fine with regulators on Thursday. The German investment bank recorded a strong rise in revenues, joining the industry-wide growth in trading income, but that was more than outweighed by the [...]
General Election 2015: Supreme Creations’ CEO Smruti Sriram wants more investment in young people April 27, 2015 ELECTION COUNTDOWN: 10 DAYS TO GO Every day until the final week of the election campaign, we ask a business leader to say what policies would entice them to vote for a particular party. SMRUTI SRIRAM: CEO, SUPREME CREATIONS I would like to see more policies which focus on empowering young people. [...]
City triumphs in marathon April 27, 2015 CITY titans including Goldman Sachs’ co-head of UK investment banking Anthony Gutman, Barclays’ group chief executive Antony Jenkins and Virgin Money boss Jayne-Anne Gadhia traded their suits for vests yesterday for the London Marathon. Gadhia, who finished in six hours and 23 minutes, raising £56,125 for Cancer Research, told City A.M.: “I’m elated. I’m delighted [...]
Greek PM still in talks with Merkel over a debt deal April 27, 2015 GREEK Prime Minister Alexis Tsipras and German Chancellor Angela Merkel agreed in a phone conversation yesterday to maintain contact during talks between Athens and its lenders to reach a debt deal, a Greek government official said. “During their communication, they expressed their common will for a steady communication throughout the course of negotiations in order [...]
Diageo battles subsidiary boss Vijay Mallya after financial misconduct probe April 27, 2015 Diageo was forced to hold an emergency meeting over the weekend after the chairman of its Indian subsidiary, United Spirits, was accused of financial misconduct. Vijay Mallya, the former majority stakeholder in United Spirits, was asked to step down by Diageo, which purchased 55 per cent of the company for £1.8bn last year. Mallya is [...]
Fashion retailers see a surge in online searches April 27, 2015 UK CLOTHING retailers are benefitting from a jump in smartphone searches for their products. British shoppers’ searches for apparel are up 54 per cent in the first three months of the year compared with the same period in 2014, according to figures released today by the British Retail Consortium (BRC) and Google. “The latest BRC-Google [...]
Confidence in economy climbs to highest level for four years April 27, 2015 People are more confident about the state of the economy than at any other time since 2011. Lloyds Bank’s spending power index climbed to a record high score of 158 in March, according to figures published today. This marks a four point gain on February’s 154 and is now the highest since the index began [...]
Rugby club Wasps to raise £35m in retail bond offering April 27, 2015 Rugby club Wasps is raising up to £35m of debt in a retail bond offer, hoping to tap up fans with a payout of 6.5 per cent on the debt instruments. It is pitching the paper as a safe investment, on the basis that the vast majority of its income is in fact not [...]
General Election 2015: Ed Miliband slings hook on deal with the SNP April 27, 2015 Labour leader Ed Miliband moved yesterday to rule out any prospect of a deal with the Scottish National Party (SNP) after the election. “If there is a Labour government, it would be a Labour Queen’s speech. It’ll be a Labour budget. It will not be written by the SNP. I couldn’t be clearer than that,” [...]
