Premier Oil trims net debt as oil production gathers pace July 17, 2019 Premier Oil cut 2019 operating costs and trimmed its debt pile in the first half of 2019, it told shareholders today. The London-listed firm cut net debt from $2.33bn at the end of 2018 to $2.15bn (£1.73bn) in the first half of 2019, slashing it by $180m to stay on track to cut full-year debt [...]
Recruiter Hays takes Brexit blow on UK hires July 16, 2019 Recruitment agency Hays recorded flat revenue growth in the last quarter of its financial year, it said today, as UK income declined in a “tougher” private sector market. The FTSE 250 firm blamed a lack of appetite in the UK and Ireland’s private sector for a two per cent fall in fees. Read more: Recruitment [...]
City Moves for 11 July – Who’s switching jobs? July 11, 2019 Today’s City Moves includes Norton Rose Fulbright, BDO and Historic Royal Palaces. Norton Rose Fulbright Global law firm Norton Rose Fulbright is to launch a legal operations consulting practice led by Stephanie Hamon, formerly of Barclays. The practice will launch in August and will provide management and operational advice to in-house legal teams at major [...]
European banking stress tests too soft, auditor group warns July 10, 2019 Stress tests designed to assess the health of European banks have not taken some systemic risks into account, according to a major auditing report released today. The European Court of Auditors (ECA) has found “shortcomings for assessing resilience against systemic risk” in the stress tests carried out by the European Banking Authority (EBA), raising questions [...]
Investors forecast returns of 10.7% – millennials expect more July 10, 2019 Investors expect total annual returns of 10.7 per cent over the next five years, according to a major new global study. Regionally, returns expectations were highest in the Americas, at 12.4 per cent. In Asia, investors expect 11.5 per cent and the figure was lowest in Europe at 9.0 per cent. The returns include growth [...]
Ex-Deutsche Bank exec acquitted in Euribor trial July 4, 2019 A former Deutsche Bank executive has been acquitted of helping to rig the Euribor benchmark interest rate during the financial crisis. Andreas Hauschild, a former managing director at the bank, was found not guilty on one count of conspiracy to defraud by a jury at Southwark Crown Court today. Read more: Ex-Barclay’s trader Philippe Moryoussef [...]
Logistics sector optimism hits record lows over Brexit fears July 4, 2019 Optimism in the logistics sector has plummeted to record lows as the industry battles Brexit fears. According to the Logistics Confidence Index compiled by Barclays and BDO, the industry has reported net pessimism for the first time since records began in 2012. Read more: Amazon to create 2000 UK jobs in post-Brexit vote of confidence [...]
City Moves for 2 July – Who’s switching jobs? July 2, 2019 Today’s City Moves includes Weatherbys Private Bank, Personal Group and Ocean Outdoor Weatherbys Private Bank David Green has joined Weatherbys Private Bank as head of credit from C. Hoare and Co and will be responsible for ensuring that the bank’s prudent and responsible approach to lending continues. Prior to nearly 19 years at C. Hoare [...]
Ex-Barclays trader Philippe Moryoussef takes UK to European human rights court over Euribor rigging conviction July 1, 2019 A former Barclays trader convicted of rigging the Euribor benchmark has launched a European Court of Human Rights claim against the UK. French national Philippe Moryoussef was tried in his absence by Southwark Crown Court in 2018 and convicted of conspiracy to defraud, receiving an eight-year sentence. He remains in France. In a statement today, [...]
Senior women in finance call for female-led IPOs to triple July 1, 2019 Senior women from top financial institutions have called for the number of female-led businesses going public to triple by 2025. Leading women from major banks, law firms and insurance companies gathered at the opening of the London Stock Exchange this morning to call for change as part of a campaign by the WealthiHer Network. Read [...]