Boris Johnson gears up for war with a cabinet of resurrected soldiers July 26, 2019 They say you can’t make an omelette without breaking some eggs. Apparently, you also can’t build a governmental team capable of taking Britain out of the EU without breaking apart any sense of unity or collaborative sentiment in the Conservative party. Boris Johnson has appointed a cabinet of the living dead, not in the way [...]
Metro Bank drafts in new non-exec director ahead of results July 24, 2019 Metro Bank has appointed a former senior Bank of Ireland boss to be its latest new independent non-executive director, as the troubled lender ramps up its management reshuffle following a tumultuous six months. Michael Torpey, a former senior executive at Bank of Ireland, is set to to join Metro Bank’s board in September, becoming the [...]
City law firm Simmons & Simmons buys legal engineering startup to turbocharge Libor replacement July 23, 2019 City law firm Simmons & Simmons today said it had acquired legal engineering firm Wavelength to help its clients on large projects such as the replacement of Libor. Wavelength describes itself as the first regulated legal engineering business in the world. Its chief executive Peter Lee said Wavelength applies data science, technology and design to [...]
Struggling Metro Bank drafts in two senior directors July 22, 2019 Under-fire lender Metro Bank has drafted in two new senior executives as the firm looks to revamp its reputation after a turbulent six months. The high street bank said this afternoon that it has appointed a new chief information officer and chief transformation officer following a major accountancy error that has rocked investor confidence. Read [...]
Who joins Lloyds Bank on this list of cheap UK shares to buy? July 22, 2019 By Graeme Evans from interactive investor. Performance of UK-exposed stocks is at an eight-year low and this is the cheapest region around. Cheap-looking UK-focused stocks were in the spotlight as asset managers increasingly turn their attention to Europe in the face of darkening skies for global equities. The attraction of European equities was highlighted by UBS in an [...]
Dividends hit record but experts warn that underlying picture is worsening July 22, 2019 A three-month period of record dividends might normally bring a smile to the face of shareholders, but a spate of huge one-off special payouts has been masking a wider market slowdown over the last quarter. Temporary boosts from a falling pound and several large special dividends pushed the total sum paid out to a record [...]
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 [...]