Dame Inga Beale: I’m not surprised by Lloyd’s of London sexual harassment claims September 30, 2019 The controversial drinking culture at Lloyd’s of London is so entrenched that a former chief executive admits she does not know how to tackle it. Dame Inga Beale, who ran the historic institution for five years, spent much time trying to tackle behavioural problems among its staff. Read more: Nearly 500 Lloyd’s of London workers [...]
Fashion giant Forever 21 files for bankruptcy September 30, 2019 Forever 21 has filed for Chapter 11 bankruptcy, becoming the latest retail chain to fall victim to challenges on the high street. The global fashion brand has requested court protection from creditors in the US, joining more than 20 other retailers which have filed for bankruptcy in the last two years. Read more: Retail sales [...]
London retains green finance crown September 27, 2019 London has retained the top spot in a major ranking of the world’s best hubs for green finance. According to a respected global index out today, the capital has kept its eco-crown despite several European neighbours being hot on its heels. Read more: Debenhams finance chief exits Western Europe’s financial sector continues to dominate the [...]
IFS: Johnson’s tax cut pledges will cost billions September 27, 2019 A bonanza of tax cuts promised by Boris Johnson will cost billions of pounds, an influential research group has warned. The Prime Minister’s pledge to raise the threshold of National Insurance contributions (NIC) and higher-rate income tax has come under damning criticism from the Institute for Fiscal Studies (IFS), which said this morning that the [...]
Bank transfer fraud rises above £200m September 26, 2019 Fraudsters duped customers into transferring more than £200m through their bank accounts during the first six months of this year. In the first half of 2019 roughly £207.5m was lost to authorised push payment (APP) scams, which involve bank users sending money from their own account directly to one belonging to a fraudster. Losses surged [...]
FTSE 100 rises as US-China trade talks boost European stocks September 26, 2019 European stocks climbed this morning as investors were buoyed by optimism over trade talks. Trade-sensitive technology stocks led the gains after the bell opened, with markets reacting to comments from China that its tariff negotiations with the US were progressing. The FTSE 100 rose 1.25 per cent to roughly 7,380, shrugging off a series of [...]
New IMF boss Kristalina Georgieva: Global economy must be prepared for downturn September 26, 2019 The incoming head of the International Monetary Fund (IMF) has warned that preparations for a global economic downturn “could soon be tested”. Kristalina Georgieva, who will succeed Christine Lagarde as the new IMF boss next month, said that warning signs are “now flashing”, echoing fears of an upcoming recession in the wake of geopolitical turmoil. [...]
Hong Kong bourse ‘may increase’ £32bn offer for London Stock Exchange, says Swiss peer September 25, 2019 Hong Kong Exchange and Clearing (HKEX) will likely raise its blockbuster offer for the London Stock Exchange (LSE), according to the chief executive of a fellow bourse heavyweight. Swiss stock exchange boss Jos Dijsselhof has told City A.M. that he expects HKEX to up its current £32bn takeover proposal for its London counterpart, but he remains convinced [...]
Deutsche Bank CEO: Central banks lack tools to prevent economic crisis September 25, 2019 The turnaround boss of Deutsche Bank struck a gloomy tone over the future of the world economy today, warning that central banks have already “turned on the money tap to the limit” and forecasting that the current US-China trade war will persist. Christian Sewing, who is chief executive of the struggling German lender, told banking [...]
Hopes of US-China trade truce boosts stocks on Wall Street September 24, 2019 US stocks edged up today amid mounting optimism over trade talks between the US and China. The S&P 500 and Nasdaw Composite both rose by slightly over 0.5 per cent after trading opened. Meanwhile, the Dow Jones industrial average rose 117 points, or 0.4 per cent, led by a rise in Apple’s share price following [...]
