Black British Business Awards announces 2020 winners October 31, 2020 The Black British Business Awards has announced its 2020 winners, who have been awarded for their outstanding business talent. The award recognises rising stars and leaders across industries, including financial services and professional services. Segun Osuntokun, managing partner at law firm Bryan Cave Leighton Paisner in London has been named Business Person of the Year [...]
Natwest returns to profit as virus loan charges fall October 30, 2020 Natwest returned to profit during the third quarter, reporting forecast-beating earnings after setting aside a smaller-than-expected sum to deal with bad loans due to the coronavirus pandemic. Natwest posted an operating profit before tax of £355m for the three months to September on an income of £1.9bn. The figure beat the bank-compiled analyst estimates of [...]
Credit Suisse profit drops as wealth management fees tumble October 29, 2020 Credit Suisse Group said it would renew dividends and begin a share buyback programme despite posting a 38 per cent drop in net profit for the third quarter as a surge in investment banking failed to offset a slowdown in wealth management. The Swiss banking giant reported a profit of 546 million Swiss francs (£461m) [...]
StanChart considers resuming dividend after quarterly profit beats estimate October 29, 2020 Standard Chartered said it would consider resuming dividends after reporting a smaller-than-expected 40 per cent drop in third quarter profit as it lowered coronavirus loan loss expectations. The UK-based, Asia-focused lender posted an underlying pre-tax profit of $745m (£572m) for the three months to September, significantly ahead of bank-compiled analyst forecasts of $502m, Standard Chartered [...]
UK economy: Experts cut forecast as coronavirus cases surge October 29, 2020 Analysts have become significantly more pessimistic about the UK economy, saying the surge in coronavirus cases and new restrictions will weigh on the recovery as the year runs into 2021. Economists say chancellor Rishi Sunak’s more generous employment support scheme will help limit some damage in the jobs market. But they warn that new lockdowns [...]
FTSE 100 falls and US stocks mixed as coronavirus cases rise October 27, 2020 The FTSE 100 fell in afternoon trading after a choppy morning session, while US stocks were mixed amid rising coronavirus cases and some worrying economic data. London’s main stock index was last down 0.8 per cent at 5,745 points, having also fallen yesterday. Read more:HSBC to overhaul business model and accelerate plan to slash costs [...]
Wall Street leads global stocks slump as Covid-19 infections rise October 26, 2020 Wall Street suffered its worst daily decline in weeks today as global stock markets posted losses amid a rise in new Covid-19 infections. There was a sea of red across the major US indices as markets closed this evening, with the S&P 500 posting its sharpest daily fall in four weeks. The downbeat sentiment across [...]
Banks hike mortgage interest rates amid boom in applicants October 24, 2020 Banks are reportedly hiking mortgage interest rates in order to deter prospective buyers as they struggle to meet a spike in demand for home loans amid a buoyant housing market. Lenders are turning away mortgage business as the ability to process applications has been slowed by home-working during the coronavirus pandemic. The housing market has [...]
FTSE 100 jumps amid strong earnings but US stocks mixed October 23, 2020 The FTSE 100 jumped on the final day of a tough week for markets, as investors found some optimism in company earnings, but US stocks were more mixed. The UK’s main stock index was boosted by upbeat results from lender Barclays (BARC). New stimulus measures from chancellor Rishi Sunak yesterday also helped stocks. Read more: [...]
Jes Staley confirms intention to stay on as Barclays beats expectations October 23, 2020 Jes Staley has signalled his intention to remain at the helm of Barclays after the bank reported better-than-expected results in the third quarter. In a call with reporters Staley said he would like to lead the bank for two more years, after Barclays today reported a return to profit for its consumer division. Between July [...]