Unicredit’s international lenders commit to €13bn rights issue, as bank also ditches €17.7bn of non-core loans December 13, 2016 Italy's largest ever rights issue was announced this morning by Unicredit, the country's biggest bank. The lender pushed the button on a €13bn (£10.9bn) rights issue, in a balance sheet restructuring Unicredit hopes will pave the way for dividend payouts to recommence by 2019. A raft of international banks, including Bank of America Merrill Lynch, J.P. Morgan, and [...]
Barclays says au revoir to French retail division in latest non-core asset sale December 12, 2016 Barclays has today agreed to sell its French retail business, marking the bank's final departure from retail operations in continental Europe. The lender has agreed to sell the 74 retail branches, life insurance business, wealth and investment management arm, and brokerage operations in France to private equity firm AnaCap Financial Partners. No price was disclosed for the deal, but Barclays noted [...]
UK economy gets end of year boost as City jobs market flourishes December 12, 2016 The economy will end the year on a high note with an upswing in the City’s job market, improved growth forecasts and a brighter outlook for business output. A survey from professional services recruiter Morgan McKinley out today shows the City’s job market picking up pace again following the Brexit vote. There was a six [...]
How Dublin is quietly winning over financial hearts in the Brexit battle December 12, 2016 Ever since June’s surprise vote to leave the EU, London’s crown as a financial leader in Europe has been under increasing amounts of pressure. The German financial capital of Frankfurt has so far proven a powerful contender, with senior ministers reporting an increase in firms applying for licences and top politicians for the region being [...]
House of Lords calls for more attention to be given to UK-Ireland relations ahead of Brexit talks December 12, 2016 Brexit could undermine efforts to forge strong relations between the Republic of Ireland and Northern Ireland if special care is not taken, the House of Lords has warned today. The House of Lords EU Committee is calling on those involved in the impending Brexit talks, including the UK government and other EU institutions, to be wary [...]
Single Market status turns complicated as new case makes its way to the High Court December 12, 2016 The UK's future relationship with the Single Market is about to be called into question, as a fresh batch of legal battles head to the courts. Campaigners will be kicking off the legal process today to bring a High Court case on whether the UK's departure from the EU also spells its departure from the [...]
Job market shakes off Brexit blues as number of City roles up for grabs soars in November December 12, 2016 Londoners who plan to spend the festive period polishing off their CVs are in luck, as the City job market has surged back into action following the Brexit vote. Figures out today from professional services recruiter Morgan McKinley show a six per cent year-on-year increase in professional jobs available for November, the first year-on-year rise recorded [...]
Careers advice at first sight as the London Stock Exchange hosts Treasury speed mentoring event December 12, 2016 It might not be well-known for its matchmaking skills, but the Treasury is having a go at revamping a certain dating industry staple. As part of its Women in Finance Charter, the government department, along with Women Ahead, will today be running a speed mentoring event. Here, 40 financial sector leaders will impart their wisdom to 40 women at [...]
Spreadbetters wary of fresh clampdowns from watchdogs December 11, 2016 Spreadbetters are likely to be watching their backs this week, as financial watchdogs crack down on their market. The UK's Financial Conduct Authority (FCA) last Tuesday revealed it was planning to impose stricter rules on contract for difference (CFD) products, saying it was concerned customers did not fully understand the risks involved. German regulator Bafin followed suit [...]
Italian banks in renewed post-referendum scramble for cash December 11, 2016 Italian banks will renew their efforts to sort their ailing finances this week as they assess the fallout of the country's recent referendum. Unicredit, Italy's largest lender by assets, is widely expected to announce a rights issue for as much as €13bn (£10.9bn) when it hosts its capital markets day on Tuesday. The highly anticipated move [...]
