Anglo American kicks off $1bn share buyback as earnings jump July 25, 2019 Anglo American put a smile on the face of investors this morning after posting a better-than-expected rise in earnings and launching a $1bn ($800m) buyback. The mining giant raised its dividend payout by almost 30 per cent after underlying earnings before interest, tax, depreciation and amortisation (Ebitda) rose 19 per cent to $5.45bn in the [...]
Metro Bank share price plummets in wake of profit drop and departure of chair July 25, 2019 Metro Bank’s share price hit an all time low this morning, as investors fretted over the troubled lender’s news that profits have fallen and its founder is stepping down as chairman. Shares in the high street challenger bank plummeted 16 per cent to 400p in early morning trading. Read more: Metro Bank’s Vernon Hill is [...]
Metro Bank profits plunge as it bids goodbye to chairman Vernon Hill July 24, 2019 Metro Bank’s woes were laid bare today after the troubled high street lender posted a downbeat financial performance and called time on its colourful founder’s role as chairman. Read more: Metro Bank confirms £500m Cerberus loan talks The under-fire challenger bank reported a sharp drop in profits for the six months to 30 June as [...]
Metro Bank drafts in new non-exec director ahead of results July 24, 2019 Metro Bank has appointed a former senior Bank of Ireland boss to be its latest new independent non-executive director, as the troubled lender ramps up its management reshuffle following a tumultuous six months. Michael Torpey, a former senior executive at Bank of Ireland, is set to to join Metro Bank’s board in September, becoming the [...]
Drop in retirement income sales hits insurer Just Group July 24, 2019 Just Group’s share price tumbled more than seven per cent in morning trading, as the specialist insurer posted a fall in retirement income sales. In a trading update released this morning, the financial services firm said that sales during the first half of the year tumbled 30 per cent to £831m, pushing shares down seven [...]
Struggling Deutsche Bank misses estimates as losses exceed €3bn July 24, 2019 The scale of troubles at Deutsche Bank were laid bare this morning after the German lender posted worse-than-expected losses over the last quarter. Read more: Metro Bank’s chair to step down Dented by costs from a major business overhaul, the embattled bank reported quarterly losses of €3.15bn (£2.7bn) over the three month period, missing its [...]
UBS posts best second quarter in almost a decade despite wealth management troubles July 23, 2019 UBS reported its strongest second-quarter set of results in almost 10 years this morning, trumping analyst estimates for net profit despite nursing losses in its flagship wealth management unit. While the Swiss group also echoed a number of its global financial peers by posting a fall in investment banking, retail and corporate banking helped push [...]
Santander to challenge Orcel in €100m legal battle over botched CEO plan July 23, 2019 Santander has vowed today to fight a high-stakes legal battle with Andrea Orcel after withdrawing its offer to appoint the banker as its new chief executive. The Spanish bank has said it will challenge a €100m (£90m) lawsuit from Orcel, the investment banker who was denied the role of chief executive just four months after [...]
Speculation mounts over potential job cuts at UniCredit July 22, 2019 Fears of a severe job cull at UniCredit emerged this evening, rocking Europe’s banking sector just weeks after rival Deutsche Bank swung the axe on its own staffing operations. Italy’s largest bank is understood to be weighing up a move to slash 10,000 jobs as part of a new cost-cutting strategy. Read more: Metro Bank [...]
Struggling Metro Bank drafts in two senior directors July 22, 2019 Under-fire lender Metro Bank has drafted in two new senior executives as the firm looks to revamp its reputation after a turbulent six months. The high street bank said this afternoon that it has appointed a new chief information officer and chief transformation officer following a major accountancy error that has rocked investor confidence. Read [...]
