Why don’t banks care about SMEs? July 9, 2019 For a service sector dealing almost solely with numbers and structured data, the world of small business lending could not be better suited to disruption by digital machines. But recently, Bank of England governor Mark Carney rightly pointed out that, despite small and medium sized enterprises (SMEs) facing a £22bn funding gap, almost half don’t [...]
Metro Bank shares fall further amid boardroom bust-up July 8, 2019 Shares in Metro Bank closed down more than 3.5 per cent today amid reports of rising tensions in the boardroom. Read more: Metro Bank and Network Rail bosses voted among most popular by staff Top executives at the high street bank have reportedly been pushing chairman Vernon Hill to resign from the board amid torrid [...]
Court told of Treasury’s ‘pervasive’ impact on controversial RBS unit GRG July 8, 2019 The government’s influence over a disgraced wing of RBS in the years following the financial crisis was “pervasive”, a court was told today. An internal bank memo from June 2010 raises concerns about the Treasury’s involvement in the global restructuring unit (GRG) of RBS. The GRG has been accused of driving small businesses into the ground as [...]
EU calls for European to replace Lagarde as IMF boss July 8, 2019 Top EU officials have called for a European candidate to replace Christine Lagarde as head of the International Monetary Fund (IMF), with the Netherlands launching a bid to fill the post. The IMF is seeking a replacement for Lagarde, who was nominated by EU leaders last week as the next president of the European Central [...]
UK productivity drops for third quarter in a row as crisis continues July 5, 2019 UK productivity fell for the third successive quarter in the first three months of the year, according to official figures released today, as Britain’s productivity crisis rumbled on. Read more: Urgent action needed to tackle stagnating productivity, economists warn Labour productivity – output per hour worked – fell by 0.2 per cent year on year [...]
Prudential UK property fund delays withdrawals for up to six months July 4, 2019 Last week Bank of England governor Mark Carney said these types of funds were "built on a lie"
Runners and riders: Who’s in line to take the top job at the IMF? July 4, 2019 George Osborne has become the surprise front-runner to take Christine Lagarde’s old job as head of the International Monetary Fund (IMF) after reports emerged that he was eyeing the role. Read more: George Osborne vying for top role at IMF The post at the international lender of last resort has become vacant after Lagarde was [...]
Is this market losing its marbles? July 4, 2019 The chart that caught the eye of the Schroders Multi-Asset Investment team this month shows that the relationship between the ISM Manufacturing Purchasing Managers’ Index (PMI) and the S&P 500 index has broken down. The PMI is based on a survey of purchasing managers from more than 300 manufacturing firms. It is a widely followed [...]
George Osborne vying for top role at IMF July 4, 2019 George Osborne is mulling a bid to become the next head of the International Monetary Fund (IMF), according to reports, after its current managing director Christine Lagarde was tapped for the top job at the European Central Bank (ECB). Read more: IMF chief Christine Lagarde among surprise picks for EU top job Currently editor of [...]
A long-term fund wouldn’t prevent another Woodford scandal – it completely misses the point July 4, 2019 Last week, Mark Carney said Woodford-style funds are “built on a lie”