Amanda Staveley launches appeal over Barclays court defeat April 18, 2021 Financier Amanda Staveley has launched an appeal after losing her lawsuit against Barclays over the behaviour of the bank’s bosses negotiating investment deals. In a high-profile trial Staveley sued the lender over claims it gave her private equity firm PCP Capital Partners less favourable treatment than other parties in the emergency £7.3bn fundraising that saved [...]
Coinbase (est 2012) $87bn market cap is ironically more than Barclays (est 1896) April 15, 2021 It was a seminal day for cryptocurrency yesterday, with Coinbase becoming the largest business of its kind to list on the Nasdaq.
Mass sacking at British Gas as 500 engineers lose job amid contract row April 15, 2021 Nearly 500 British Gas engineers lost their jobs yesterday after refusing to sign new contracts which will reportedly cut their pay by around 15 per cent. British Gas owner Centrica told various media last night that around 2 per cent of its staff had chosen not to sign the new contracts, though it refused to [...]
Travis Perkins sales rise as Wickes demerger nears completion April 15, 2021 Travis Perkins is on track to demerge its Wickes home improvement business by 28 April, the company said on Thursday. The group had put the process on hold at the start of the pandemic last year, but trading in Wickes shares will now commence at the end of the month. Nick Roberts, CEO of Travis [...]
‘Fat finger’ trade briefly bumps £3bn off Barclays’ value April 15, 2021 Barclays’ share price fell 10 per cent yesterday morning after a suspected “fat finger” trade, which temporarily knocked more than £3bn from Barclays value. Barclays’ share price had fallen almost 10 per cent by 8:05am yesterday morning, according to reports – an unusual event, particularly for a big bank. After a five-minute pause in [...]
Pfizer hikes cost of Covid vaccine for EU by 60 per cent April 13, 2021 Pfizer has hiked the cost of future orders of its coronavirus vaccine placed by the European Commission more than 60 per cent. Bulgarian Prime Minister Bokyo Borissov this morning said the US pharmaceutical giant has increased the cost of future orders sold to the EU from €12 per dose to €19.50. Borissov added that the [...]
Banks start process to claw back billions from Covid loans April 12, 2021 Some of Britain’s biggest lenders have begun sending letters to customers, warning them that repayments for crisis loans will soon be expected. HSBC, Barclays, NatWest and Lloyds have each begun sending letters to customers, the Mail on Sunday first revealed, with the first set repayments due to start in just two weeks. Banks handed out [...]
COP26: Is the City ready for its leading role in the fight against climate change? April 10, 2021 Windows were smashed at Barclays headquarters this week by climate activists who urged the bank to cut its climate destructive investments. Last week campaigners painted the Bank of England (BoE) black in a bid to raise the alarm on the institution’s funding of Big Oil. Where money goes within the City is under more scrutiny [...]
S&P 500 and Dow climb for third day and close at records April 9, 2021 The S&P 500 and the Dow rose to close at record highs, posting a third straight weekly rise partly on lift from growth stocks, with a late-day rally building gains ahead of quarterly earnings season next week. The Dow Jones Industrial Average rose 299.21 points, or 0.89 per cent, to 33,802.78, the S&P 500 gained [...]
Exclusive: The City will emerge strong from Brexit, says impact investment whizz April 8, 2021 One of the hottest trends within the City’s investment community lately has been impact investing; capital flowing into companies, entities and funds with the intention to generate a measurable, beneficial social or environmental impact. To many institutional investors and pension funds, impact investments are increasingly becoming the standard so this type of investments is more [...]