Bank of England governor appointment set to be delayed September 18, 2019 The highly-anticipated appointment of a new Bank of England governor could be delayed until after a general election. The successor to Mark Carney is not likely to be decided by the current autumn deadline, according to reports in the FT. Carney, whose time on Threadneedle Street is set to come to an end on 31 [...]
Lloyd’s of London profits rise to £2.3bn September 18, 2019 Lloyd’s of London has reported pre-tax profits of £2.3bn for the first six months of 2019. The historic insurance market’s profits before tax climbed from £600m in the previous year, with boss John Neal citing “increased discipline” for the rise. Neal said: “It is encouraging that the Lloyd’s market is showing increased discipline in 2019 [...]
Top EU banking regulator moves to trade body September 17, 2019 One of Europe’s most senior banking regulators has been appointed as the chief executive of the Association of Financial Markets in Europe (AFME). Adam Farkas, who is currently executive director of the Paris-based European Banking Authority (EBA), is set to join the trade body in February next year. Read more: Banks cannot ignore the disruptors [...]
ECB’s Villeroy hints at closer EU integration after Brexit September 17, 2019 The governor of the Bank of France has suggested today that the European Union will move towards closer integration in the wake of Brexit. François Villeroy de Galhau, who is also a European Central Bank (ECB) board member, told business delegates in London that the bloc’s collective response to Britain’s departure might become a further [...]
City of London police chief urges banks to report cyber attacks after Wannacry ‘silence’ September 17, 2019 Major public companies decided not to report cyber attacks to the authorities during the worldwide Wannacry breach over fears that their reputations would be tarnished, according to the City of London’s police commissioner. Ian Dyson, who heads up the Square Mile’s police team, has urged banks to come forward with cyber incidents, claiming that some [...]
Wework delays IPO plans amid investor caution September 17, 2019 Wework has pushed back plans for its highly-anticipated initial public offering (IPO) amid cooling investor appetite. Following a number of setbacks over its ambitions to go public, the fast-rising parent owner of real estate group Wework is expected to postpone its listing until the end of the year. Read more: Wework considers cutting founder’s voting [...]
Hong Kong faces rush hour travel chaos after train derails September 17, 2019 A commuter train derailed in Hong Kong this morning, injuring several passengers and triggering delays during the city’s busy rush hour. Train authorities said that one of its vehicles derailed as it departed a station in the Kowloon area, in a rare episode of travel chaos for the Asian city’s usually seamless transport network. Read [...]
French Connection: Sale talks ‘ongoing’ as losses narrow September 17, 2019 French Connection has said that sale talks are ongoing, as the embattled fashion chain posted narrowing losses and a fall in revenue this morning. Shares fell 12.37 per cent after the retailer announced it is extending a strategic review into the business amid continued discussions over the future of the struggling business, which has been [...]
Aquis Exchange posts rise in revenues and market share September 17, 2019 Pan-European share trading platform Aquis Exchange grew both its revenue and its market share over the last year as it pressed ahead with plans to disrupt the initial public offering (IPO) market. Revenues jumped 165 per cent to £3.4m in the 12 months to the end of June 2019. Read more: Number of private equity [...]
Banks can’t ignore the disruptors any longer September 17, 2019 Inside one of the City of London’s oldest buildings, bankers are discussing the future. Amid trade war turmoil, Brexit uncertainty and climate change concerns, there is one issue above all that dominates the agenda; digitalisation. It is a topic at the heart of the 23rd World Conference of Banking Institutes held at the City’s Guildhall, [...]
