Back of the net: Watches of Switzerland hails demand for sport products as sales tick up August 13, 2019 The return of the Premier League season has put a smile on many faces, but none more so than Watches of Switzerland, the UK’s biggest seller of Rolex watches. The newly-listed luxury retailer, which reported a double-digit rise in revenue this morning, has hailed an increased appetite for sport watches for its recent sales growth. [...]
Ring time: Open outcry trading sessions to be extended by London Metal Exchange August 12, 2019 The London Metal Exchange is set to extend its final open outcry trading sessions, backing its historic method of buying and selling on the floor over a potential shift towards electronic platforms. Frenzied five-minute dealing windows are to be doubled to 10 minutes on the trading floor of the world’s oldest and largest market for [...]
Lloyd’s of London ramps up modernisation drive as it hits electronic trading target August 12, 2019 It is one of the oldest institutions in the City, but there are signs of modernisation at Lloyd’s of London. The historic specialist insurance market has hit a milestone after completing over 50 per cent of its under-writing deals electronically, meeting a target it set itself for the second quarter of this year. For more [...]
Expectations for UK economy fall to lowest level since 2011 August 12, 2019 Public expectations for how the UK economy will fare over the next 12 months are at their lowest level in more than seven years, according to a new report released today. The Office for National Statistics (ONS) has said the outlook for the general economic situation for the year ahead is worse than at any [...]
Royal London sales hit by DB transfer drop despite rise in profits August 12, 2019 Royal London, the UK’s largest mutual life insurer, has reported a drop in new business sales during the first half of the year. The pensions provider blamed an industry-wide reduction in defined benefit (DB) transfers today for a four per cent year-on-year fall in new business sales to £5.8bn for the first six months of [...]
Vacancy rates hit worst level in over four years August 12, 2019 The decline of the British high street has deepened this summer with vacancy rates hitting a four-year high and sluggish footfall underlining a torrid selling season for retailers. Empty store fronts climbed to their highest level since January 2015 in July, following a turbulent 12 months during which some of Britain’s most iconic retailers permanently closed [...]
Recruiters warn City job hunters over old social media posts August 11, 2019 That embarrassing tweet you did and forgot all about five years ago could cost you a top job in the City, recruiters are now warning. Old social media posts could come back to haunt those that made them, with many financial employers starting to scrutinise Twitter and Facebook accounts as part of their jobs-vetting process. [...]
Chinese government gives nod for SDIC plans to float in London August 11, 2019 A Chinese state-backed energy group is pressing ahead with an initial public offering (IPO) in London after being given the green light by its goverment. China’s State Development and Investment Corp (SDIC) is set to issue 10 per cent of its share capital as Global Depositary Receipts (GDRs) on the London Stock Exchange, giving the [...]
Top investment bank fees slide across the board in 2019 amid deals slowdown in Europe and US August 9, 2019 Fees at all but one of the world’s 20 largest investment banks tumbled in the first half of 2019, as fewer mergers in Europe and a global slowdown in initial public offerings (IPO) dented corporate pay cheques. Europe’s investment banks earned a combined $13.3bn (£11bn) worth of fees in the first half of 2019, plunging [...]
World bond market sets quarterly record after boom in first-half activity August 8, 2019 The world’s green bond market hit a record quarterly high in the last three months, as investor appetite in environmental assets picked up pace. Issuers brought $66.6bn (£54.8bn) of green bonds to market globally in the second quarter of 2019, propelling issuance in the first half of the year and shattering records. Read more: Climate [...]
