Barclays faces renewed shareholder challenge on fossil fuels February 26, 2021 Barclays faces a second consecutive year of shareholder pressure on its position as Europe’s largest fossil fuel financier, after a shareholder resolution has been filed for the bank’s upcoming AGM on 5 May. The resolution calls for financing and exposure to coal, oil and gas to fall in line with the Paris Agreement’s climate goals. [...]
Financier Amanda Staveley loses High Court battle with Barclays February 26, 2021 Financier Amanda Staveley who sued Barclays over the behaviour of bank bosses when negotiating investment deals during the financial crash has lost her court battle. The high-profile trial centred around the claim that Barclays gave Staveley’s private equity firm PCP Capital Partners less favourable treatment than other parties in the emergency £7.3bn fundraising that saved [...]
Goldman Sachs boss David Solomon: Working from home is not the new normal February 25, 2021 Goldman Sachs boss David Solomon: Working from home is not the new normal
The highs and lows of Antonio Horta-Osorio’s decade at Lloyds February 24, 2021 The return to dividend payouts announced today is a strong legacy for the outgoing Lloyds boss, who oversaw the successful turnaround of a bank left reeling from the financial crisis. Antonio Horta-Osorio will step down at the end of April, with finance chief William Chalmers set to take over temporarily before HSBC banker Charlie Nunn [...]
Vodafone confirms Frankfurt float for mobile masts business February 24, 2021 Vodafone has confirmed plans to float its mobile masts division on the Frankfurt Stock Exchange by the end of March. The mobile network launched Vantage Towers last year in a bid to cash in on its lucrative infrastructure amid tough competition in the telecoms market. The company operates 82,000 towers across 10 European markets and [...]
A wealth tax could raise as much as £55bn – but is it really the answer? February 22, 2021 Our friends at Tortoise are hosting an all-day summit on the Future of Money this coming Thursday. They’ve opened up the exclusive event to a small number of City A.M. readers, who can register here with the code GUESTOFCITYAM. Here, Tortoise’s Kim Darrah and Giles Whittell look at what a mooted wealth tax could mean [...]
Global dividend payments fared better than expected due to strong fourth quarter February 22, 2021 Global dividend payouts fared better than expected last year after a strong fourth quarter kept total cuts to $220bn. Janus Henderson’s latest Global Dividend Index reveals that although payments fell 12.2 per cent over the year, it was better than the previously forecasted $1.2 trillion. This was largely because fourth quarter cuts were less severe, [...]
Fatberg ‘size of small bungalow’ removed from Canary Wharf sewer February 19, 2021 A fatberg “the size of a small bungalow” has been removed from a Canary Wharf sewer, after Thames Water engineers spent two weeks clearing it. The grease build-up was found underneath Yabsley Street, near the London offices of Barclays, Citibank and Credit Suisse. Canary Wharf residents and workers have been urged to be “careful what [...]
Lloyds and HSBC: What to expect in next week’s earnings February 19, 2021 This week Barclays and Natwest announced a return to dividend payments but laid bare the extent of the pandemic on earnings. Barclays reported a 30 per cent drop in pre-tax profit to £3.1bn for 2020, while Natwest reported a pre-tax loss of £351m for the year. Next week it will be Lloyds and HSBC’s turn [...]
Barclays pay pot for top execs swells to £1.6bn despite profit plunge but Jes Staley takes £2m pay cut February 19, 2021 Barclays pay pot for top execs swells to £1.6bn despite profit plunge but Jes Staley takes £2m pay cut