Standard Chartered to cut around 100 jobs worldwide as bank seeks to cut costs by $1bn – reports June 8, 2023 Standard Chartered is laying off employees across Singapore, Hong Kong and London following a series of cuts across the sector in recent months. According to Bloomberg News, the bank could cut over 100 employees although it is yet to determine a final number. In Asia, roles have been cut in middle-office functions, like human resources [...]
JP Morgan leads rivals on AI recruitment as UK banks struggle to attract talent June 7, 2023 JP Morgan is leading the field in AI recruitment as banks around the world race to capitalise on the opportunities created by the new technology. According to a new report from consultancy Evident, JP Morgan is hiring twice as many AI-related jobs as its rivals. The Wall Street giant advertised 3,651 jobs in AI between [...]
Telegraph and Spectator to be put up for sale as bank takes over parent firm June 7, 2023 The Telegraph newspapers and Spectator magazine are set to be put up for sale after their parent organisation was forced into receivership due to unpaid debts. The firm’s holding company B.UK, owned by the billionaire Barclay family, was placed into receivership by the Bank of Scotland after the firm failed to strike a deal on [...]
CBI: Rishi Sunak refuses to say business body will be back in the room June 7, 2023 The Confederation of British Industry survived a confidence vote on its future yesterday, after members voted in favour of the scandal-hit lobbying organisation’s transformation plan. However, overnight the Prime Minister Rishi Sunak suggested that may not be enough for the body to be invited back into key meetings on business policy with the government. Matters [...]
FTSE 100 close: London index retraces losses on softer pound June 6, 2023 London’s FTSE 100 retraced losses today, shaking off investor fears over the risk of the effects of a US recession rippling throughout the global economy. The capital’s premier index climbed 0.37 per cent to 7,628.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, jumped [...]
Cost of weekly shop continues to rise as Brits opt for TV nights in June 6, 2023 Brits are continuing to fork out more on their weekly shop, with households spending 8.9 per cent more on groceries year on year, with the nation increasingly turning to takeaways and nights in front of the telly in efforts to cut down on spending costs. During May, consumer card spending rose just 3.6 per cent [...]
Barclays, Lloyds, Halifax and Bank of Scotland to shut 63 more branches – including in London June 2, 2023 Two of the country’s biggest banking giants have announced they are slashing another 63 branches, taking away services from local communities around the UK. Barclays and Lloyds Banking Group between them announced a series of closures which are due to take place later this year or early next year. Barclays said on Friday it was [...]
Could JP Morgan boss Jamie Dimon run for President of the United States? Billionaire investor Bill Ackman thinks so June 1, 2023 Billionaire investor Bill Ackman has argued that JP Morgan boss Jamie Dimon should run for president after comments earlier this week suggesting Wall Street’s longest-serving bank boss would consider running. In a tweet, Ackman said “we need an exemplary business, financial, and global leader to manage through what is likely to be a critically important [...]
Bumper Bank Holiday drives footfall levels up June 1, 2023 Bumper bank holidays in May helped hike footfall levels as work-free Brits flocked to the high streets to drink and shop in a welcomed boost for businesses. Footfall over the last month climbed 3.6 per cent, the second month in a row in which levels have risen following a 3.3 per cent jump in April, [...]
Goldman Sachs to make another round of job cuts as dealmaking slump continues – reports May 31, 2023 Goldman Sachs is considering another round of job cuts over the next few weeks as the drought in dealmaking continues to weigh on performance. According to Reuters, the layoffs – which would total not more than 250 – could include senior figures like partners and managing directors. The news was first reported by the Wall [...]