Barclays investment bankers face ‘double-digit’ cut to bonus pool January 24, 2020 Barclays investment bankers are reportedly facing a double-digit fall in their bonus pool for 2019, as chief executive Jes Stanley pushes for the lender to meet profitability targets amid growing pressure from an activist investor. Barclays Investment Bank reported a strong third-quarter performance with a 41 per cent jump in net profit. But the division’s [...]
Finablr shares plunge after owner pledges stock as collateral for Travelex debt January 24, 2020 Shares in payments firm Finablr plunged to a record low today after its owner pledged more than half the company’s stock as security for debts incurred buying foreign exchange company Travelex. In an update to the stock exchange this morning, Finablr disclosed that majority owner B. R. Shetty had pledged 392.2 million shares, over 56 [...]
Virgin Money begins the search for a new chairman January 24, 2020 Virgin Money today announced that its chairman, Jim Pettigrew, will be stepping down from his role. Pettigrew will retire in September 2021 – when his tenure on the board will hit the new nine-year limit for chairmen. Virgin Money said that Pettigrew’s departure is “in line with the board succession plan and good corporate governance [...]
Johnson’s reshuffle is about more than just jobs – the party is looking for the PM’s philosophy January 23, 2020 As Labour continues the post-election round of self-flagellation in search of a new leader and direction, most returning Tory MPs have only one thing on their mind: the impending reshuffle. Tipped to happen in the first two weeks of February, the only questions are who is likely to get the heave-ho, and whether Dom Cummings’ [...]
City Moves for 21 January – Who’s switching jobs at Grosvenor, UHY Hacker Young and Bfinance? January 21, 2020 Today’s City Moves includes Grosvenor, UHY Hacker Young and Bfinance Grosvenor Property firm Grosvenor has announced the appointment of Tor Burrows as director of sustainibility and innovation — a new role designed to galvanize delivery of our environmental goals for 2030 which will see the business become net carbon zero. Tor will sit on the [...]
UK will not automatically deport EU nationals after Brexit January 18, 2020 The UK will not automatically deport EU nationals who have not applied to stay in the country after Brexit, European Parliament Brexit coordinator Guy Verhofstadt said on Friday. Verhofstadt met with Brexit minister Stephen Barclay on Thursday and said he had been given assurances there would be a grace period for those who have not [...]
First Travelex UK customer-facing systems restored after cyber attack January 17, 2020 The chief executive of Travelex has spoken out for the first time following a cyber attack two weeks ago that caused a global blackout in the foreign exchange provider’s online services. In a scripted video uploaded to a backup Travelex website, Tony D’Souza said the IT system used by staff was now working again. D’Souza [...]
Brexit will not affect holidays to the EU, says travel industry January 17, 2020 The UK’s travel industry body has stressed “nothing will change” for British tourists booking holidays to the EU until the end of 2020. ABTA, which represents thousands of travel firms, discovered that one-third of Brits are unsure about the impact of Brexit on their travel plans. So it has updated its advice on how Brexit [...]
City Moves for 17 January – Who’s switching jobs at Charlotte St Partners, Bird & Bird and Hassium? January 17, 2020 Today’s City Moves includes Charlotte St Partners, Bird & Bird and Hassium Charlotte St Partners Strategic communications advisory firm Charlotte Street Partners has appointed Sarah Buchanan-Smith as partner, based in the company’s London office. Sarah will focus on developing Charlotte Street’s financial communications and investor relations offering, with a particular emphasis on supporting new and [...]
UK retail sales decline knocks sterling lower January 17, 2020 UK retail sales fell in the “golden quarter” of Christmas trading, the latest statistics showed today in a further sign of the challenges facing the British high street. In the three months to December 2019, the amount spent and the quantity bought in the retail industry fell 0.9 per cent and one per cent respectively, [...]