EU watchdog proposes software capital relief to increase banks’ safety buffers October 14, 2020 The European banking watchdog has proposed allowing lenders to include the value of software investments in capital calculations, a move that could increase banks’ capital buffers by billions of euros. The European Banking Authority (EBA) said lenders will be allowed to “amortise” or taper the value of software for capital purposes over three years. Under [...]
Our Pick: Pictures of the Day – October 14 October 14, 2020 Every day we’ll take a look at the best pictures from around London and the rest of the world Read more: Mayor suggests London restrictions on their way Read more: Sign up to our morning newsletter, the Morning Bell
FTSE 100 and US stocks slip into the red in choppy session October 14, 2020 The FTSE 100 bucked the European trend and slipped into the red along with US stocks as investors weighed up the path of the coronavirus pandemic, company earnings, and geopolitics. London’s main stock index rose in morning trading. But a sharp climb in sterling set the index back in the afternoon. It was last down [...]
Sterling jumps amid hopes of a post-Brexit trade deal October 14, 2020 The pound jumped past the $1.30 mark after suggestions that the EU and UK could yet reach a post-Brexit trade deal cheered investors. Sterling was up 0.8 per cent by around 2.30pm UK time at $1.203. It was 0.6 per cent higher against the euro at €1.108. Prime Minister Boris Johnson and European Commission boss [...]
Snakes and Ladders: Who is moving jobs in the City this week? October 14, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Despite the unnatural quiet that has replaced the fast-paced bustle of the Square Mile over the last few months, behind the scenes things are still moving. While the pandemic has [...]
Retail property values forecast to fall up to 40 per cent due to pandemic October 14, 2020 Retail property values are expected to fall up to 40 per cent over the next year due to the impact of the coronavirus pandemic on the UK high street, according to a survey of investors. Commercial real estate investors are seeking more “pandemic resistant” assets, such as logistics, the analysis found. Research by Duff & [...]
The maths of why growth companies are beating value October 14, 2020 One of the side effects of low interest rates is that, because of the way that companies are valued, investors place a higher value on companies (and investment projects) which have a low probability, high payoff, a long time in the future. This helps explain why investors have been prepared to pay up for loss-making [...]
English football clubs ‘will not be allowed to go bust’ due to Covid-19 October 14, 2020 Clubs in the English Football League (EFL) will not be allowed to go bust as a result of the coronavirus crisis, a senior government minister has said. Oliver Dowden, secretary of state for digital, culture, media and sport, said he had received assurances from both the EFL and the Premier League that they had the [...]
HS2 costs rise £800m just weeks after construction starts October 14, 2020 The cost of controversial rail link HS2 has risen another £800m, the government has admitted, just six months after the project was newly approved. Ministers said that the extra costs were related to removing more asbestos than had been expected, as well as on developing the terminus at Euston station. The increases were revealed in [...]
Goldman Sachs profit surges, Bank of America and Wells Fargo hit by loss provisions October 14, 2020 Goldman Sachs has reported a dramatic increase in third-quarter profit as increased trading revenues boosted the investment bank, while consumer-focused peers Bank of America and Wells Fargo were hit by increased provisions for bad loans. Goldman Sachs boosted by spike in trading activity Goldman reported a 94 per cent increase in quarterly profit, beating estimates [...]
