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 [...]
Snakes and Ladders: Who is moving jobs in the City this week? October 21, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. City firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of [...]
Jes Staley set ‘to stay on at Barclays for two more years’ October 19, 2020 Jes Staley is reportedly set to stay on as chief executive of Barclays, despite the lender coming under pressure to replace the controversial American. The bank is not expected to announce any succession plans when it reports third quarter earnings on Friday despite activist investor Edward Bramson recently renewing his attack on Staley, The Telegraph [...]
UK can be a ‘free agent’ in financial markets after Brexit, says think tank October 19, 2020 The UK can be a significant “free agent” in the global banking and financial markets once Brexit is over, a new report claims. As negotiations continue in the next few weeks and Bois Johnson steps up his no-deal rhetoric, the UK’s banking and finance industry is in for a seismic change. A report by think [...]
G4S rebuffs Gardaworld’s takeover offer as it “significantly undervalues” company October 19, 2020 G4S (GFS) has dismissed Gardaworld’s hostile takeover bid, after the outsourcing giant claimed its 190p per share offer “significantly undervalues the company and its prospects”. In a filing to the London Stock Exchange, G4S said its board had unanimously rejected Canadian rival Gardaworld’s offer because it was “not in the best interests of shareholders or [...]
Gardaworld advisers set for £312m payday in G4S bid October 18, 2020 Advisers to Gardaworld are in line for a £312m payout from the Canadian firm’s hostile takeover bid for outsourcing giant G4S. Banks, lawyers, accountants and PR professionals are set to share a reward package ranging from £13m to £312m if Gardaworld’s £3bn bid is successful. In a takeover document published yesterday, Gardaworld said it will [...]
Champions Cup final: Exeter aim to increase English dominance in club rugby’s European showpiece October 16, 2020 Exeter Chiefs take on Racing 92 this weekend in the European Champions Cup final, one of the last remaining fixtures of an interrupted rugby season. Both teams will be looking to lift the trophy for the first time when they clash at Ashton Gate in Bristol on Saturday afternoon. A win for Exeter would extend [...]
Snakes and Ladders: Who is moving jobs in the City this week? October 14, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Despite the unnatural quiet that has replaced the fast-paced bustle of the Square Mile over the last few months, behind the scenes things are still moving. While the pandemic has [...]
Amanda Staveley slashes £1.6bn claim against Barclays in half, High Court hears October 12, 2020 Financier Amanda Staveley has cut her £1.6bn damages claim against Barclays by more than half, the High Court heard. Staveley’s private equity firm, PCP Capital Partners, is claiming a loss of around £660m from the bank, according to PCP’s closing statement. Lawyers for Barclays said PCP was now claiming a maximum of £771m, down from [...]