Trading places: A tour around the new £1bn Goldman Sachs London HQ October 7, 2019 For Goldman Sachs bankers used to living life in the fast lane, the slow lifts at their recently-opened London HQ are a new source of frustration. “Don’t get me wrong, the place is great, but it takes two minutes just to go up a few floors,” grumbles one employee. Read more: Why Transferwise denied a [...]
Weaker European market expected to be at centre of potential HSBC job cuts October 7, 2019 HSBC’s under-pressure European business is expected to bear the brunt of potential job cuts being made by the bank. The lender is understood to be looking at cutting between 5,000 and 10,000 jobs as part of a cost-cutting drive under interim boss Noel Quinn. Read more: The next BofE governor must be prepared for a [...]
Worst September since records began as industry body warns of spending slowdown amid ‘spectre of no-deal Brexit’ October 7, 2019 Retailers have endured their worst September since records began, according to an industry body that has blamed “the spectre of a no-deal Brexit” for lower spending. Total sales fell by 1.3 per cent in September, compared with a rise of 0.7 per cent in the previous year. Read more: How business rates can help to [...]
Cryptocurrency probes rise October 7, 2019 Investigations by the City watchdog into cryptocurrencies have climbed sharply in the last year amid a growing effort to tackle fraud in the sector. The Financial Conduct Authority (FCA)’s number of live probes into cryptocurrency businesses jumped 74 per cent to 87 in the last 12 months. Read more: Rising recession risk frightens business According [...]
BDO profits jump as partners enjoy pay rise October 7, 2019 BDO has reported a double-digit rise in profit and revenue for the last 12 months, as the accountancy giant ramped up the pressure on its larger under-fire Big Four rivals The beancounter enjoyed its seventh consecutive year of growth after profits rose 26 per cent to £134m and revenues jumped 25 per cent to £578m. [...]
Corbyn kicks up fresh row with Ashley October 7, 2019 A new footballing rivalry was formed over the weekend after Jeremy Corbyn took aim at retail tycoon Mike Ashley for his running of Newcastle United. The Labour leader has taken his war on corporate bosses to the football pitch after branding the high street billionaire “a bad owner” and accusing him of self-interest. “[Clubs] are [...]
HSBC reportedly mulling up to 10,000 job cuts October 6, 2019 HSBC is reportedly set to swing the axe on as many as 10,000 jobs as it becomes the latest banking giant to launch a radical cost-cutting overhaul this year. Read more: The next BoE governor must be prepared for a political storm The lender will see “a substantial reduction” in its headcount as a result [...]
Shareholders tell HKEX to up its offer October 6, 2019 HONG Kong’s stock exchange has reportedly been told to find another £4bn in its war chest if it wants to acquire its London rival. Top shareholders are demanding that the Hong Kong Exchange and Clearing (HKEX) raises the value of its blockbuster offer for the London Stock Exchange (LSE), according to the Mail on Sunday. [...]
FTSE 100 claws back losses as sterling drops October 4, 2019 The FTSE 100 clawed back some of its losses today after a turbulent week of trading. The blue chip index climbed one per cent to roughly 7,150 this afternoon, ending a major selloff which has pushed the London market into one of its worst weeks in recent years. Read more: CMC Markets forecasts jump in [...]
US economy adds 136,000 jobs in September as unemployment rate falls to 50-year low October 4, 2019 The US economy added more than 130,000 jobs in September, with unemployment falling to its lowest rate in half a century. After a week of warning signs about a global financial slowdown, the US reported today that roughly 136,000 jobs were made last month. Read more: Global stocks bleed red The unemployment rate, which has [...]
