Credit Suisse swings back into the black for second quarter of the year – but shares fall July 28, 2016 Credit Suisse may have swung back into the black in the second quarter – but investors were still cautious. The figures The banking giant reported income before taxes of CHF 199m (£153m) for the second quarter of 2016, swinging back into profit compared with a loss of CHF 484m for first quarter of the year but down a massive 88 per [...]
Banking bleakness: This is how people reacted to 3,000 further job losses at Lloyds Banking Group July 28, 2016 In its half-year results this morning, Lloyds Banking Group revealed it would be shedding a further 3,000 jobs by 2017. Persistently low interest rates are proving a problem for the banking sector, and the situation could be about to get even worse: many are predicting the Bank of England will choose to cut rates further [...]
Court could be about to throw a spanner in the works for Corbyn’s Labour dreams July 28, 2016 The fate of Jeremy Corbyn's somewhat controversial battle to stay leader of the Labour party rests on a knife edge, as the high court is due to hand down judgment in a case on the matter later on today. If the case does not go in Corbyn's favour, the Labour party may have to backtrack [...]
Weir Group boss steps down after seven years July 28, 2016 Weir Group announced today that chief executive Keith Cochrane is stepping down. Cochrane, who has held a spot on the board for 10 years and has been chief executive since 2009, will be replaced by Jon Stanton at the start of October. "It has been an honour to lead Weir and I am very proud of what we [...]
Lloyds Banking Group to cull a further 3,000 jobs as lower for longer interest rates take their toll July 28, 2016 Lloyds Banking Group today revealed that it was slashing thousands of jobs and shutting down many branches, as ultra-low interest rates continue to play havoc on the sector's prospects. The bank announced an additional 3,000 role reductions and another 200 branch closures. These cuts will take place by the end of 2017 and are on top of [...]
Jose Vinals to replace Sir John Peace as chairman at Standard Chartered July 27, 2016 Standard Chartered has today announced that it has today appointed Jose Vinals as chairman. Vinals, who is currently the financial counsellor and director of the monetary and capital markets department of the International Monetary Fund (IMF), will join the board on as chairman designate on 3 October, before formally taking over from Sir John Peace at the start of December. [...]
Dignity’s financials are suffering because not enough people are dying July 27, 2016 A lowered death rate would give most people a reason to celebrate but it’s not great news for one listed company. The figures Funeral-related services provider Dignity today reported its profits before tax for the 26 weeks to 24 June had fallen to £41.5m, down 7.8 per cent from £45m the year before. Underlying profits [...]
