Trio of ex-Barclays bankers accused of lying in Old Bailey fraud trial October 8, 2019 Three senior former Barclays executives were today accused of lying about disguised payments to Qatar to facilitate a massive investment in the bank at the height of the financial crisis. The three senior former executives – Roger Jenkins, Thomas Kalaris and Richard Boath – are standing trial at the Old Bailey on fraud charges. The [...]
City Moves for 8 October – Who’s switching jobs at Oaknorth, Weil and DMH Stallard October 8, 2019 Today’s City Moves includes Oaknorth, Weil and DMH Stallard Oaknorth Next-generation credit platform Oaknorth has announced the appointment of Sunil Chandra as its new chief executive officer (CEO). Sunil has spent the last 12 years at Google’s headquarters in San Francisco, where he served as vice president of the company. At Google, Sunil scaled the [...]
Brexit: Macron says EU could decide on Boris Johnson’s ‘final’ offer by end of this week October 7, 2019 French President Emmanuel Macron has said the EU could make a decision on Prime Minister Boris Johnson’s Brexit proposals by the end of the week. Discussions between the two leaders yesterday saw Macron urge Johnson to engage in further discussions with the EU “swiftly” in order for the bloc to decide on the PM’s proposals [...]
City Moves for 7 October – Who’s switching jobs at Equiteq, Festicket and Smith & Williamson? October 7, 2019 Today’s City Moves includes Equiteq, Festicket and Smith & Williamson? Eqiteq Global investment bank Equiteq has appointed Sohail Ahmed as its new managing director. Based in London, Sohail will engage with the community of entrepreneurs and private equity transacting in the knowledge economy, as well as lead on investment banking project delivery. Sohail has extensive [...]
Former Barclays trio face Qatar trial at Old Bailey October 6, 2019 Three former Barclays executives charged with fraud in connection with Qatar’s part in the bank’s emergency cash injection during the financial crisis face trial tomorrow. The highly-anticipated trial, which is set to last into 2020, will look into how the British bank secured billions from Qatari investors and avoided a taxpayer-funded bailout in 2008. The [...]
Profits plunge at Barclay brothers’ Ritz hotel October 6, 2019 The billionaire Barclay brothers saw profits plunge at The Ritz Hotel in Mayfair, while their casino business also suffered losses. Profit before tax almost halved from £12.8m to £7.9m according to the hotel’s latest financial filings for last year. Read more: Barclay brothers Ritz Hotel casino swings to £11.7m loss The drop in profit came [...]
Labour: Pre-Christmas General Election will happen if PM asks for Brexit delay on 19 October October 6, 2019 Shadow attorney general Shami Chakrabarti has said Labour will agree to an election “this side of Christmas” if Boris Johnson asks the European Union for a Brexit extension on 19 October. Johnson has until this date to broker a Brexit deal with the EU or else he will be forced to ask for an extension [...]
Commons to grill Boris Johnson over ‘final offer’ on Brexit October 3, 2019 The Prime Minister will face a grilling in the Commons today, after the government published its “final offer” to Brussels yesterday. Boris Johnson, who also confirmed plans to prorogue parliament for a second time in order to bring forward a Queen’s Speech, enjoyed rapturous applause in front of the party faithful after his conference speech [...]
The hurdles holding back home ownership October 3, 2019 There is good news and bad news when it comes to the numbers of first-time buyers in 2019. The good news is that, despite existing homeowners taking a more cautious approach in this uncertain political and economic climate, sales are up almost six per cent compared to this time last year. However, the positive statistics [...]
Metro Bank shares jump after new bond deal and departure of chairman Vernon Hill October 2, 2019 Metro Bank’s share price jumped in trading today after the embattled lender revealed the succesful relaunch of a £250m bond issue and the planned departure of chairman Vernon Hill. Shares in the group climbed 30 per cent to 234p in trading this afternoon as investors reacted to the firm’s double announcement. The challenger bank had [...]