JP Morgan boss Jamie Dimon: ‘I could beat Trump… because I’m as tough as he is, I’m smarter than he is’ September 12, 2018 The chief executive of bank JP Morgan today claimed he could beat US President Donald Trump in an election. "I think I could beat Trump… because I'm as tough as he is, I'm smarter than he is," he said. Dimon, 62, who has previously ruled out a presidential run, said today that as a rich [...]
Gap between UK and US bankers’ bonuses widening as EU rules bite September 12, 2018 The gap between bankers’ bonuses in the UK and US is widening due to EU rules on bonus caps. Bankers in the UK have seen their bonus pool shrink nine per cent over the last three years, falling to the same level it was in 2008 at $19.6bn (£15bn). Read more: Hammond: BoE boss Carney [...]
Litigation funder Vannin Capital lines up £1bn London float September 10, 2018 Litigation funder Vannin Capital said today it is planning to list in London next month in a float that market sources say could hit a £1bn valuation. The listing will comprise an approximately £70m issue of new shares by the company and the sale of shares by existing shareholders to facilitate a free float of [...]
UBS launches new debt product for ethical investors that sticks to UN principles September 10, 2018 UBS has launched a new World Bank-backed debt product aimed at ethical investors. The Swiss bank has partnered with corporate governance research company Sustainalytics to introduce the global sustainability signatories index, which is composed of 100 companies that have signed up to the United Nations (UN) global compact, a corporate sustainability initiative. Signatories of the [...]
UK’s computer games industry grows turnover by a third in a year September 10, 2018 The UK’s computer games industry grew by a third in the last year to hit £697m, according to new research published today. Revenue grew 34 per cent last year to £697m from £522m the previous year, research from online business finance supermarket Funding Options showed. Read more: This exhibition at the V&A is a deep [...]
Sweden in deadlock after polls show leading blocs neck-and-neck September 9, 2018 Sweden's centre-left and centre-right blocs are in a dead heat after an election in which the far-right Sweden Democrats were set to become the second-largest party in the historically liberal country. Partial results, with 80 per cent of districts counted, showed the ruling centre-left Social Democrats, headed by Stefan Lofven, and Greens and their Left [...]
Labour would make companies found employee share schemes September 9, 2018 Labour would make all private companies with more than 250 people set up “ownership funds”, giving workers financial stakes in their companies and a greater say in how they are run. Shadow chancellor John McDonnell revealed the plans in an interview with the Observer as Labour gears up for a general election which he predicted [...]
John Lewis could face profit hit after heavy discounting September 9, 2018 Retailer the John Lewis Partnership may take a £50m hit to profits after slashing prices this summer in the wake of the collapse of House of Fraser. The Waitrose-owner was forced to cut prices after department chain House of Fraser collapsed into administration leading to mass stock clearance. Read more: Changing tastes shows retail’s centre [...]
Institutional investors to keep UK holdings stable as Brexit creeps up September 6, 2018 A majority of institutional investors plan to keep their holdings of UK assets stable into early 2019 as Brexit negotiations approach a crunch phase, according to a quarterly survey. The ‘Brexometer’ survey of 101 professional investors by State Street, which manages $2.7 trillion (£2.1 trillion) in assets globally, showed that appetite for increased holdings of [...]
City watchdog chair Charles Randell says Big Four needs to improve audit quality ‘as a matter of urgency’ September 6, 2018 City watchdog chairman Charles Randell launched a withering attack on the Big Four accountancy firms today, calling for the profession to address audit quality "as a matter of urgency". In a speech marking 10 years since the start of the financial crisis, Randell said it was “very disappointing” to see that the Financial Reporting Council’s audit [...]
