FTSE 100 close: Ocado delivers bumper gains while Next zips lower March 29, 2023 London’s FTSE 100 was hoisted higher by the UK’s largest retailers surging today, except high street bellwether Next, which stumbled badly. The capital’s premier index bumped more than one per cent to 7,564.28 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, surged 1.28 per [...]
JP Morgan’s Jamie Dimon to be deposed in Epstein case, plaintiffs’ lawyer says March 29, 2023 JP Morgan chief executive Jamie Dimon will be interviewed under oath in connection with the bank’s relationship with Jeffrey Epstein, the late sex offender and a former client, a lawyer involved in the litigation said on Tuesday. The deposition is expected to occur in early May, according to Brad Edwards, a lawyer representing women who [...]
FTSE 100 close: Barclays charge runs out of steam as Deutsche Bank swings to losses March 28, 2023 London’s FTSE 100 was pulled higher by banks clawing back losses yet again today, with Barclays and Standard Chartered initially leading the charge before running out of steam heading into the close. The capital’s premier index jumped 0.17 per cent to 7,484.26 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with [...]
Tech Nation in talks with Brent Hoberman’s Founders Forum as wind-down date looms March 28, 2023 Start-up quango Tech Nation said it is in talks to sell its brand to Brent Hoberman’s Founders Forum today as it prepares to wind down at the end of this month.
Why the Bank of England and Fed could welcome Credit Suisse and Silicon Valley Bank failures March 28, 2023 There’s been reams and reams of wild predictions about whether we’re slipping into another financial crisis, triggered by the collapse of US tech lender Silicon Valley Bank (SVB) and Credit Suisse’s arranged marriage with its crosstown rival UBS. Blackrock chief Larry Fink even warned in his annual letter to shareholders we’re slipping into a slow [...]
FTSE 100 close: Deutsche Bank surges while Barclays and HSBC yank London index higher March 27, 2023 London’s FTSE 100 kicked off the week in upbeat style, yanked higher by UK banking giants Barclays and Lloyds racking up gains. The capital’s premier index jumped 0.9 per cent to 7,471.78 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.19 per cent [...]
Saudi National Bank chair resigns after bank loses $1.2bn in Credit Suisse investment March 27, 2023 Chair of Saudi National Bank (SNB) Ammar Al Khudairy stepped down today after the bank chalked up a $1.2bn loss on its investment in Credit Suisse. SNB said in a statement that Al Khudairy had resigned for “personal reasons” and the current chief executive, Saeed Mohammed Al Ghamdi, will takeover as chair of the lender. [...]
5 Key Warning Signs That You Need To Update Your CV Now March 27, 2023 The outlook for top tech companies across the UK is, at the moment, very uncertain. Not a day goes by when we don’t hear reports of projects being stalled, hiring freezes being put into place, or worse still another employee posting on LinkedIn that they have been laid off and are #opentowork. While talk of [...]
FTSE 100 close: London index slips after of Bank of England interest rate hike March 23, 2023 London’s FTSE 100 slipped lower today after the Bank of England’s hiked interest rates for the eleventh time in a row. The capital’s premier index dropped 0.89 per cent to just under 7,500 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, lost 0.15 per [...]
UK ‘unicorn’ creation plummets as tech venture capital dries up March 23, 2023 The creation of so-called unicorns in the UK’s tech sector slowed by more than ten times last year as venture capital dried up and companies reined in their valuations to raise cash, new data has revealed.