New PwC recruits to set their own hours under flexible working scheme August 30, 2018 Accounting giant PwC has scrapped the traditional nine-to-five week in favour of flexible hours for certain roles. Applicants to the Flexible Talent Network will be able to choose a working pattern that suits them in a bid to attract more diverse talent that may have previously dismissed the firm. Employees will be appointed to projects based on their skills and [...]
Lira continues decline as emerging market currencies struggle August 30, 2018 The Turkish lira has continued to decline today as it fell almost five per cent to 6.78 against the dollar. It is the fourth day of decline in a row for the currency, which has lost almost 40 per cent of its value against the dollar this year, as neither Washington nor Ankara backs down over a crisis [...]
Gam shares slide after Credit Suisse slashes price target August 30, 2018 Shares in Swiss asset management firm Gam plummeted more than ten per cent this morning after Credit Suisse halved its price target for the stock. Gam Holdings' shares were down 10.4 per cent to SFr7.32 (£5.80) at midday after the banking giant cut its target from SFr14.20 to SFr7. The troubled company announced the start of a liquidation process for unconstrained/absolute [...]
Argentina calls for early release of $50bn IMF support as crisis deepens August 30, 2018 Argentina has requested the early release of a $50bn (£38.5bn) credit line from the International Monetary Fund (IMF) after the peso hit new lows amid a deepening financial crisis. The value of the Argentine peso toppled yesterday, prompting the government to call on the IMF to speed up access to the funding in a bid to raise [...]
Business expansion doubles Arrow Global’s profit August 30, 2018 European asset manager Arrow Global today revealed that profit after tax more than doubled this year, driven by business expansion. The figures Profit after tax rose by more than 100 per cent to £8.5m in the first half of this year, compared to £3.7m in the same period in 2017. In the six months to 30 June [...]
G20 imports and exports fall for the first time in two years August 29, 2018 G20 international merchandise trade has fallen for the first time in two years, figures published today show, due to the "significant depreciation" of several currencies against the dollar. Imports to the world's major economies dropped by 0.9 per cent in the second quarter of this year, and exports fell by 0.6 per cent, according to the Organisation [...]
UBS closes robo-advisor Smartwealth after less than two years August 29, 2018 Swiss banking giant UBS has closed its robo-advice service Smartwealth less than two years after its UK launch. The platform, which was established in November 2016, had satisfactory commercial progress, UBS said in a statement, but was shut down after the "near-term potential" was judged to be limited. Customers were told that money will continue to [...]
Turkish lira slumps further after banks downgraded August 29, 2018 The Turkish lira has slumped further against the dollar after ratings agency Moody's downgraded banks yesterday evening, amid a dispute between President Tayyip Erdogan and US President Donald Trump. The currency weakened to 6.4 lira to the dollar early this morning, its weakest since 15 August, and had dipped as low as 6.37 before recovering [...]
Aston Martin profits up as company confirms IPO August 29, 2018 Luxury car manufacturer Aston Martin has confirmed its intention to float on the London Stock Exchange in a flotation that could value it at £5bn, as the company reported increased profits in its half-year results. Read more: Aston Martin to IPO in £5bn stock market listin The figures The UK-based company revealed revenue was up [...]
Ctrl Alt Delete: Technology could replace more than half of banking jobs, warns ex-Barclays boss August 23, 2018 Technology could replace more than 50 per cent of banking jobs, according to former Barclays chief executive Antony Jenkins. The boss of 10x Banking said that computers could replace customer service, middle and back office roles, and that the workforce will have to become more entrepreneurial. Read more: Aberdeen Standard Investments launches AI fund "We've [...]
