Alison Rose confirmed as new RBS boss September 20, 2019 Royal Bank of Scotland confirmed this morning that Alison Rose has been appointed as the firm’s first female chief executive. Rose, who is currently deputy chief executive of Natwest and the boss of the bank’s commercial arm, is replacing Ross McEwan at the helm of the company. Read more: RBS ‘returns from the wilderness’ with [...]
Airbnb plans to go public in 2020 September 19, 2019 Airbnb has revealed its intention to become a publicly-traded company next year. In one of the most prominent market listings scheduled for next year, the property giant has said today that it is looking to float in 2020. Read more: Wework delays IPO The move could see Airbnb, which is an online marketplace for lodging, [...]
LSE boss David Schwimmer feels ‘very good’ about Refinitiv deal after snubbing Hong Kong offer September 19, 2019 The boss of the London Stock Exchange has said he feels “very good” about merger plans with Refinitiv, in a fresh sign of the group’s reluctance to accept a separate takeover offer from its Hong Kong rival. LSE chief executive David Schwimmer expressed his enthusiasm for a $27bn (21.6bn) acquisition of data provider Refinitiv at [...]
Saga profits slump as travel business wanes September 19, 2019 Saga posted a sharp fall in profits during the first half of this year, as challenges in its travel business dragged down the over-50s tourism and insurance giant. Pre-tax profits at the firm tumbled year-on-year by more than 50 per cent from £109.7m to £52.8m. Read more: Lloyd’s of London bosses ‘devastated’ at company misconduct [...]
Next defies retail gloom with rise in profits but shares fall on weak start to autumn trading September 19, 2019 Next reported a rise in pre-tax profits and sales this morning, as the retailer shrugged off tough trading conditions on the high street during the first half of 2019. The group’s share price dropped four per cent in morning trading after it flagged a weak start to the autumn season as a result of the [...]
Westminster needs to do better by the City September 19, 2019 One London-based banker says that on his weekly journey to and from Frankfurt, the plane going to Germany is often twice as full as the one coming back. Such anecdotes, exaggerated though they may feel, nonetheless underline the creeping sense of anxiety over London’s global status. Read more: London holds on to number two spot [...]
London Calling: London holds on to number two slot in financial centres ranking September 19, 2019 London has clung on to second place in a respected ranking of the world’s top financial centres but its position in the top tier is under threat amid Brexit chaos and other global geopolitical shifts. According to the latest financial index published by researchers at consultancy Z/Yen, London has retained its number two spot behind New York following a year dominated by geopolitical uncertainty and a US-China [...]
MPs urge clarity from Sajid Javid over appointment timetable for Bank of England governor September 18, 2019 An influential group of MPs has demanded a timetable from the chancellor for the appointment of the next Bank of England governor. Following reports that the successor to Mark Carney is not likely to be decided by the current autumn deadline, the Treasury committee has today written to Sajid Javid asking him to confirm whether [...]
‘Sobering and devastating’: Lloyd’s of London bosses speak out on sexual misconduct claims September 18, 2019 Top bosses at Lloyd’s of London have expressed deep regret over a swathe of sexual misconduct allegations that have blighted the historic insurance market’s reputation. The chairman and chief executive of Lloyd’s both said this morning that revelations of sexual harassment and assault against women at the firm had been devastating. Chairman Bruce Carnegie-Brown told [...]
Profits slide and sales wane at B&Q owner Kingfisher September 18, 2019 Kingfisher reported falling profits and sales this morning as its struggling B&Q chain held back the firm’s turnaround efforts. Pre-tax profits at the group hit £245m in the first half of 2019, falling from £280m in the same period a year ago. Read more: Retail footfall drops again Blaming “disappointing” performances in its core UK [...]
