Pound jumps on signs a Brexit deal can still be done October 19, 2020 The pound surged as investors bet that Brexit talks would resume – despite the UK’s tough rhetoric – and eventually result in some kind of free-trade agreement. Sterling was up 0.7 per cent by mid-morning at $1.30. It had risen 0.5 per cent against the euro to stand at €1.107. Prime Minister Boris Johnson struck [...]
Jes Staley set ‘to stay on at Barclays for two more years’ October 19, 2020 Jes Staley is reportedly set to stay on as chief executive of Barclays, despite the lender coming under pressure to replace the controversial American. The bank is not expected to announce any succession plans when it reports third quarter earnings on Friday despite activist investor Edward Bramson recently renewing his attack on Staley, The Telegraph [...]
UK can be a ‘free agent’ in financial markets after Brexit, says think tank October 19, 2020 The UK can be a significant “free agent” in the global banking and financial markets once Brexit is over, a new report claims. As negotiations continue in the next few weeks and Bois Johnson steps up his no-deal rhetoric, the UK’s banking and finance industry is in for a seismic change. A report by think [...]
Covid-19 and “stakeholder capitalism”: actions speak louder than words October 19, 2020 The idea that companies should be run for the benefit of all their stakeholders, not just shareholders, is not new. “Stakeholder capitalism”, as it’s become known, was actually the dominant corporate model long before “shareholder primacy” (i.e. prioritising shareholders) really took hold in the Anglo-Saxon world in the 1970s. It remains the norm in some [...]
Love in a time of Covid: A guide to lockdown dating October 19, 2020 Shakespeare’s assertion that “the course of true love never did run smooth” has never felt quite so true as it has during the pandemic for couples who don’t live together. This has become especially complicated with the introduction of different restriction levels across regional boundaries. From the beginning of lockdown, clarity on how to live [...]
Half of UK financial services staff want shift to flexible working October 19, 2020 Half of Brits working in the financial services sector want to shift to a more flexible working model after the coronavirus pandemic ends, a new survey has revealed. The outbreak of Covid-19 has sparked a major change in working habits, as stay-at-home orders have fuelled a sharp rise in home working. A survey by KPMG [...]
McLaren CEO Mike Flewitt on a difficult year and an electrified future October 19, 2020 We have coffee with McLaren CEO Mike Flewitt, discussing the new 765LT, a "horrible" year and McLaren’s plugged-in hybrid future.
Boohoo kicks off search for new auditor as PwC steps down October 19, 2020 Controversial fast fashion retailer Boohoo (BOO) has launched a search for a new auditor, with PwC stepping down in the wake of a report into abuses in the clothes company’s supply chain. Boohoo said in a statement that it had “recently launched a competitive tender process for the group’s audit”. It said that PwC – [...]
Amigo enters Asset Voluntary Requirement with regulator October 19, 2020 The City regulator has told Amigo’s new board it cannot transfer any assets outside of the group without its permission. Amigo (AMGO) has entered an Asset Voluntary Requirement (AVR) with the Financial Conduct Authority (FCA) which means the lender will need its approval to transfer assets outside of the group. It also means it needs [...]
