Half of UK logistics firms to make acquisitions despite volatile market October 5, 2022 Almost half of UK logistics firms is set to make an acquisition in the next year despite challenging market conditions. Data published today by Barclays Corporate Banking reported that 45 per cent of UK businesses were considering the move as a way to achieve economies of scale and expand services. This is the highest figure [...]
City Moves: Who’s switching jobs in the Square Mile? October 4, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. GPP Financial services provider GPP, part of Titan Wealth, has poached its new chief executive officer from American investment banking giant BNY Mellon’s Pershing business. Geoff Towers will be responsible for leading GPP as a core part of the [...]
Banks and housebuilders bear brunt of market chaos September 29, 2022 Wild swings in UK debt markets and concern over borrowers’ capacity to pay costlier mortgages have whacked London-listed housebuilders and banks this week. Britain’s biggest property developers have been among the hardest hit listed companies during this week’s market sell-off. FTSE 100-listed construction firms Taylor Wimpey and Barratt Developments have shed more than 20 per [...]
Banks need WhatsApp alternative fast to dodge hefty fines, warns former FCA official September 28, 2022 Banks and brokerages need to roll out new messaging platforms fast to “crack down” on the use of Whatsapp by staff, a former City regulator warned today, after US regulators slapped a group of Wall Street giants with $1.8bn worth of fines.
‘It’s baffling’: Startups slam Barclays’ contract win from Tech Nation September 25, 2022 The tech startup community has pushed back against reports that Tech Nation may be facing threat after the government reportedly handed its £12m contract to Barclays. As first reported by The Sunday Times, the banking titan has nabbed the contract from the entrepreneur network, which is best known for providing support for aspiring founders and [...]
Binance unveils global advisory board, chaired by former US Senator September 22, 2022 Binance has created a new global advisory board (GAB), comprised of experts in public policy, finance, economics, and corporate governance.
Britain’s millionaires still feel like they are cash poor September 22, 2022 In 2021, global wealth grew by 12.7 per cent according to the latest Credit Suisse Global Wealth Report, published this week. There are now over 60 million millionaires in the world, more than twice as many as in 2011, a mere decade ago. Britain has 4,180 people who are worth over $100m each, and a [...]
Barclays faces £40m lawsuit over breast implant scandal September 16, 2022 Barclays is facing a £40m High Court lawsuit over claims it dishonestly transferred assets, owned by one of Britain’s largest cosmetic surgery providers, to prevent women who were given dangerous breast implants from receiving compensation. The High Court lawsuit, which is scheduled to be heard this October, claims Barclays’ Business Support Unit helped restructure Hospital [...]
JP Morgan’s investment banking fees could drop 50 per cent, executive says September 13, 2022 JP Morgan Chase’s investment banking revenues could drop by as much as 50 per cent in the third quarter of 2022, one the Wall Street bank’s most senior executives has warned. The bank’s president and chief operating officer Daniel Pinto said he expects JP Morgan’s investment banking fees to be 45-50 per cent lower than [...]
What can Sunak-friendly fintech expect under Truss? September 12, 2022 Some fintech bosses are reconsidering what a Truss leadership may mean for the sector.