Real Madrid top Deloitte Football Money League as Champions League revamp boosts Premier League’s rivals
Deutsche Bank forecast to be in the red for 2016, with a net loss of almost €1bn predicted January 29, 2017 Deutsche Bank is predicted to announce it is almost €1bn (£850m) in the red when it releases its full year results for 2016 on Thursday morning. A consensus of analysts has forecast the German banking giant will report a net loss of €910m for the full year and €1.6bn for its fourth quarter. However, some analysts are predicting a full year loss [...]
Government loses Supreme Court Article 50 case January 25, 2017 The Supreme Court has dismissed the government's appeal in its long-awaited judgment in the Article 50 case later this morning. The court voted by a majority of eight to three to dismiss the case, meaning MPs must be given a vote before the Brexit process can begin. However, it also said it had unanimously decided [...]
And then there was one: Sports Direct splits from top brokers January 23, 2017 Sports Direct has split from three of its brokers, announcing today that Liberum Capital would be its sole broker from hereon. The controversial retailer's former collection of brokers was made up of City heavyweights Goldman Sachs, Citi and Haitong. Haitong and Citi are both neutral on the company's shares, while, last May, Goldman Sachs stopped recommending [...]
Fraud squad successfully puts funds linked to Chad oil corruption claims on ice January 23, 2017 The fraud squad has today secured a property freezing order worth over £4m. The Court of Appeal decided to enforce the property freezing order against Ikram Mahamat Saleh, covering £4.4m plus interest, which represents the sale proceeds of 800,000 shares in Canadian oil and gas company Caracal Energy, formerly known as Griffiths Energy International. The Serious Fraud Office [...]
Financial adviser DeVere Group launches new private bank January 23, 2017 Those looking for a place to stash their cash have a new option, with financial consultants DeVere Group today launching a private bank. DeVere Group Bank St Lucia, which the group understands to be the first private bank to be independently owned by a financial advisory firm, was created out of the firms acquisition of Arton Bank. DeVere snatched up [...]
Business secretary backs City as a “huge national asset”, and hopes there won’t be fewer bankers as a result of Brexit January 23, 2017 The business secretary has today given his backing to the City of London, calling the financial sector a "huge national asset". His comments come just days after bosses from UBS and HSBC warned they could move thousands of jobs overseas because of the Brexit vote and, in particular, the risk they might lose valuable access rights to [...]
Leading City group adds to growing calls for bespoke Brexit deal January 23, 2017 A City-centric group has today added to the calls on the government to seek out a bespoke deal for access to the EU post-Brexit. The International Regulatory Strategy Group (IRSG), which is co-sponsored by TheCityUK and the City of London Corporation and is chaired by former treasury minister Mark Hoban, is urging the government to seek out [...]
Red tape warriors to the rescue: London’s top compliance staff to save City’s status post-Brexit January 22, 2017 Banking experts have identified an unexpected reason why big banks could keep major operations in London following Brexit – the capital's high numbers of top quality compliance staff. Bosses at HSBC and UBS said last week they could move thousands of staff out of London due to Brexit, triggering worries the UK could lose its [...]
What you need to be on the look out for in the Article 50 judgment on Tuesday January 22, 2017 The Supreme Court is due to deliver its long-awaited decision in the Article 50 case on Tuesday. If you plan on following along with the legal eagles, here is what you need to know. Remind me – what is this case all about? The case centres on whether the government can trigger Article 50 without first getting approval [...]
