‘It’s a powerful, symbolic moment’: Chief executive Warren Deutrom on Ireland’s Lord’s Test match against England July 23, 2019 Wednesday is a significant day for Irish cricket: a third Test match in the country’s history, a first against England, at the Home of Cricket, on television and in the midst of a swell of interest in the sport, thanks to a recently concluded World Cup and an approaching Ashes series. For Warren Deutrom the [...]
UK households’ financial optimism hits six-month high July 22, 2019 UK households have struck an optimistic note on their future finances for the second month in a row, to mark a six-month high in their outlook. Financial health expectations moved up a gear in July after households recorded their first positive outlook since the start of 2019 in June. Read more: UK households turn positive [...]
How 15-year-old American tennis star Cori Gauff can avoid the pitfalls of being a child prodigy July 21, 2019 A month ago few people knew who 15-year-old Cori Gauff was – and with good reason. Although she had caused a stir on the junior tennis circuit, Gauff was ranked No313 in the world before the offer of a wild card into Wimbledon qualifying, in her own words, “literally changed my life in seconds”. Gauff [...]
Government launches review into Britain’s financial rules ahead of Brexit July 19, 2019 The City’s financial rules are set to be reviewed by the government ahead of Britain’s departure from the EU. While there are no plans to change the format of the current financial watchdogs, the government has launched a review into how regulation within the financial sector could be changed post-Brexit. Read more: Jeremy Hunt misses [...]
Blackrock profit drop misses expectations July 19, 2019 Blackrock disappointed Wall Street expectations this afternoon after posting a worse-than-expected fall in quarterly profits. The world’s largest asset manager reported net income of $6.41 per share, or $1bn (£800m), falling from $6.62 per share in the same quarter last year and missing Refinitiv estimates of $6.50 per share. Read more: Outgoing RBS boss Ross [...]
No-deal Brexit risk climbs to 30 per cent as Boris Johnson leads Tory leadership contest July 19, 2019 Economists are forecasting that Britain’s chances of leaving the EU without a deal is at its most likely since October 2017, according to a Reuters poll. As expectations mount that Boris Johnson is likely to become the next Prime Minister, a median forecast of 30 per cent of financial experts are predicting Britain and the [...]
Outgoing RBS boss Ross McEwan to take top role at National Australia Bank July 19, 2019 The outgoing head of the Royal Bank of Scotland (RBS) is taking the reigns as new chief executive of the National Australia Bank (NAB). Ross McEwan, a banking veteran who is set to step down from RBS by April next year, has been poached by the NAB as it looks to recover from a financial [...]
Let’s end the government monopoly of financial regulation July 19, 2019 The growth of financial regulation seems inexorable. Andy Haldane, chief economist at the Bank of England, has noted that in 1980 there was one UK regulator for every 11,000 people employed in finance, compared to one for every 300 people by 2011. At that rate of growth, the number of regulators will overtake the number [...]
City Moves for 19 July – Who’s switching jobs at Lloyds Bank, Young’s and R3? July 19, 2019 Today’s City Moves includes Lloyds Bank, Young’s and R3. Lloyds Bank Andy Hulme has been appointed as co-head of Lloyds Bank’s Real Estate and Housing (RE&H) alongside Madeleine McDougall (pictured), who has successfully led the business since 2017. Both Andy and Madeleine will report to Scott Barton, managing director, large corporates, commercial banking. Andy is [...]
Watchdogs rebuff Bank of England’s criticism of Woodford fund scrutiny July 18, 2019 An international financial regulator has defended its current global rules for investment funds today in a pointed retaliation to recent criticism made by the Bank of England. Following the suspension of Neil Woodford’s flagship fund, the Bank of England said the International Organisation of Securities Commissions (Iosco) had not set out how such funds should [...]