Jeremy Corbyn could hit bank profits as hard as a no-deal Brexit, warns Citi April 15, 2019 The election of Labour leader Jeremy Corbyn as prime minister would have as damaging an effect on UK bank profits as a no-deal Brexit, according to a note from investment bank Citi. Read more: Comrade Corbyn’s statist policies would tank the British economy Labour is edging ahead of the Conservatives in the polls, with the popularity [...]
Brexit will not impact the ability of companies to raise debt, survey says April 15, 2019 Brexit is not a big concern for companies when it comes to their ability to raise debt, a survey published today showed. A survey of senior treasury and finance executives at Ftse 250 companies showed 74 per cent did not think Brexit would have an impact on their ability to raise debt. One Ftse 100 [...]
Lawyers at Kirkland & Ellis worry boozy grad event could see firm landed with frat boy rep April 15, 2019 Lawyers at US law firm Kirkland & Ellis say a recent boozy graduate recruitment event that saw two lawyers go home with students could land the firm with a frat boy reputation. The firm’s head of compliance was looking into the incident last week, insiders say, ahead of reports that emerged on Friday. Legal gossip [...]
Major companies could be exempt from joint audit rules in competition watchdog report April 14, 2019 The UK’s competition watchdog reportedly could exclude some major companies from a new rule that would require many business to appoint joint auditors. Sky News reported that the Competition and Markets Authority (CMA) is set to publish its long awaited report into the audit sector this week. According to the report, the CMA has been [...]
TSB launches fraud guarantee for customers after last year’s IT crisis April 14, 2019 TSB will tomorrow announce a fraud refund guarantee that means the bank’s 5.2m customers will be covered if they are an innocent victim of fraud. The pledge follows an IT meltdown at TSB last year that saw fraud rise to 70 times its normal level and more than 1,300 customers losing money. Read more: TSB to [...]
Provident Financial ‘astonished’ at admissions by suitor Non-Standard Finance that it broke company law April 14, 2019 Provident Financial said today it is “astonished” by suitor Non-Standard Finance’s (NSF) statement after trading ended on Friday which admitted it had broken company law with previous dividend payments. A spokesperson for Provident said: “We are astonished by NSF’s after hours announcement admitting, ten days after Provident questioned certain dividends and buy backs, an apparently wider [...]
JP Morgan beats market expectations for first quarter sending shares surging April 12, 2019 US investment bank JP Morgan beat expectations in its first quarter results today, sending shares up four per cent. The bank, the largest in the US by assets, delivered record revenue and profit figures, boosted by higher interest rates. Revenue in the quarter to 31 March rose 4.7 per cent to $29.85bn (£22.84bn), up from [...]
What do we know about Disney’s streaming service? April 12, 2019 Disney is set to take on the might of Netflix and Amazon with a new streaming service – Disney Plus – which it announced last night at its California headquarters in Burbank. Here are six things we know about the new offering from the mouse-branded entertainment behemoth. 1) It launches in North America in November [...]
Provident Financial blasts Non-Standard Finance over failure to respond to concerns April 12, 2019 Doorstep lender Provident Financial said today it remains “gravely concerned” that Non-Standard Finance (NSF) has failed to respond to questions it raised in relation to NSF’s takeover bid. NSF made a £1.3bn offer for struggling sub-prime lender Provident in February that was rejected by the company, but has continued its pursuit despite opposition from Provident’s [...]
Indian airline Jet Airways grounds all international flights as money woes grow April 12, 2019 Struggling Indian airline Jet Airways has reportedly cancelled all its international flights today, after it grounded 10 aircraft yesterday for financial reasons. The cash-strapped airline has cancelled all international flights, Indian media reports. Read more: Jet Airways chairman Naresh Goyal to stand down from board According to its website, its flights scheduled to depart today [...]
