Hong Kong stock exchange drafts in bankers to aid charm offensive for LSE bid September 22, 2019 Banking giants HSBC and UBS have been drafted in by the Hong Kong stock exchange as it ramps up its shareholder campaign to push through a takeover of its London rival. The two corporate groups are trying to win round shareholders of the London Stock Exchange (LSE) after making a £32bn offer for the group, [...]
M&S finance boss heads for the exit September 22, 2019 Marks & Spencer has confirmed it is parting ways with its finance chief less than two years after he took on the role. The retail giant’s group chief financial officer Humphrey Singer is leaving the business in the latest high-profile departure to rock the company. Read more: UK retail sales unexpectedly fall in August Coming [...]
Thomas Cook makes plea to lenders in last-minute rescue talks September 22, 2019 Thomas Cook is teetering on the brink of collapse as it rushes to find a rescue deal in eleventh-hour talks with its lenders. The world’s oldest holiday company is holding make-or-break discussions with creditors today as it fights to avoid collapsing into administration. The firm has urged its lenders to slash the standby funding they [...]
Helena Morrissey among candidates in running for Bank of England governor job September 22, 2019 Prominent City veteran Dame Helena Morrissey is in the race for the top job as Bank of England governor. The high-flying financier could become Threadneedle Street’s first female boss after making it into a shortlist of candidates being considered to replace Mark Carney next year. Read more: Big banks shift just 1,000 jobs since Brexit [...]
Raab promises Thomas Cook customers they will not be stranded abroad amid rescue talks September 22, 2019 Foreign secretary Dominic Raab has promised Thomas Cook customers that they will not be stranded abroad if the embattled holiday firm collapses. The world’s oldest travel operator is in last-ditch talks this weekend to secure a £200m lifeline and avoid falling into administration. Read more: Thomas Cook asks for government bailout Raab said today that [...]
Big banks shift just 1,000 jobs since Brexit vote, EY reports September 20, 2019 Just 1,000 jobs within the big banks have left the City since Brexit, a new report from EY has found. According to the accountancy giant, among the large investment banks monitored in its tracker under 1,000 jobs have already relocated to the continent. Read more: Worldwide climate strikes set to start The figure represents 15 [...]
FTSE 100: Stocks muted as investors keep eye on Brexit talks and US-China trade war September 20, 2019 European markets have remained muted this morning as traders keep an eye on US-China relations and Brexit trade talks. European stocks opened quietly this morning, with the FTSE 100 and Dax both starting slightly down. Rolls Royce led the blue-chip fallers as shareholders wobbled over the company’s longer-than-expected problems with its Trent 1000 engines. Read [...]
Thomas Cook share price crashes as lenders demand extra £200m to seal rescue deal September 20, 2019 Thomas Cook’s share price plunged more than 15 per cent in early morning trading after it confirmed lenders are demanding an extra £200m as part of efforts to rescue the world’s oldest holiday company. The embattled travel operator said today that investors want £200m to finalise a restructuring strategy, coming on top of a further [...]
Watchdog probes West Coast rail franchise award to First Group and Trenitalia September 20, 2019 Britain’s competition watchdog has said it is investigating the award of the West Coast partnership to First Group and Trenitalia. The Competition and Markets Authority (CMA) is looking at whether the joint operation could lead to “a substantial lessening of competition within any market”. Read more: Saga profits slump The CMA is inviting comments on [...]
Investec warns on profits amid higher costs September 20, 2019 Anglo-South African business group Investec warned on its profits for the first half of 2019 this morning as challenges in its specialist UK banking business dragged down the group. The firm expects headline earnings per share to be roughly 15-18 per cent lower for the six months to 30 September, adding that it would take [...]
