Italian stock market soars as new coalition takes shape August 29, 2019 Italy’s stock market jumped two per cent this morning and bond yields hit record lows as Prime Minister Guiseppe Conte took a big step towards forming a new government. Read more: Italian bond yields hit record low on hopes of new coalition Conte said he had accepted President Sergio Mattarella’s invitation to form a new [...]
German CDU leader pledges to keep balanced budget as recession looms August 26, 2019 The leader of Germany’s ruling party has resisted calls to increase government spending to stimulate the economy, saying the “black zero” balanced budget policy is “indispensable”. Read more: German business confidence slumps to lowest point since 2012 Annegret Kramp-Karrenbauer, the leader of German Chancellor Angela Merkel’s Christian Democrats (CDU), said at a news conference: “The [...]
City Moves for 23 August – Who’s switching jobs at Oxford Properties, WH Ireland and Mediconnect? August 23, 2019 Today’s City Moves includes Oxford Properties, WH Ireland and Mediconnect. Oxford Properties Global real estate investor, developer and manager Oxford Properties Group, has announced a series of changes to its leadership team and the appointment of Dean Hopkins as chief operations officer. The changes come at a time of rapid worldwide growth for Oxford, which [...]
UK officials ‘unshackled’ from EU meetings ahead of Brexit August 20, 2019 The government has told UK officials and ministers to stop attending “most” European Union meetings from the start of next month. The move, which will come into effect from 1 September, is billed as enabling officials to “focus on our future relationship with the EU and other partners around the world”. From that point on, [...]
City Moves for 19 August – Who’s switching jobs at Morgan Lewis, Saranac Partners and Sativa? August 20, 2019 Today’s City Moves includes Morgan Lewis, Saranac Partners and Sativa. Morgan Lewis Morgan Lewis has appointed corporate lawyer Ayesha Waheed, who focuses on international energy and infrastructure transactions, as a partner resident in London. Ayesha has significant experience throughout Europe and in emerging markets in Africa and Asia, particularly south east Asia. She arrives from [...]
Watchdog’s ban on ex-Barclays executive holding senior positions overturned August 16, 2019 A ruling by the financial watchdog banning former Barclays executive Andrew Tinney from holding senior positions at financial institutions has been overturned. Tinney, former chief operating officer of Barclays Wealth, was also cleared of misleading the Financial Conduct Authority (FCA) and the US Federal Reserve Bank of New York, but a finding he “acted without [...]
Rabobank profits fall by a quarter as lender hit with charges August 15, 2019 Pre-tax profit at the Dutch lender Rabobank fell by 26 per cent in the first half of the year, the company said today, after it was hit with impairment charges and struggled with low interest rates. Read more: Four lenders awarded £40m from RBS banking competition funds The figures Rabobank’s operating profit before tax dropped [...]
Venture Capital funding hits record high August 14, 2019 Venture capital (VC) funding in the UK soared to a record high during the first half of this year, bolstered by a growing appetite for tech investments. Funding in VC rose to £4.3bn during the first half of 2019, rising 45 per cent on the same period last year. Read more: Barclays stops banking cryptocurrency [...]
Atom Bank, iwoca, Modulr Finance and Currencycloud awarded £40m from RBS banking competition fund August 14, 2019 Four UK financial firms have been handed a combined £40m today from an RBS fund aimed at boosting business banking competition. Atom Bank, iwoca, Modulr Finance and Currencycloud were awarded the new capital as part of an effort to boost lending and payments services to SMEs in the UK. Read more: Barclays stops banking cryptocurrency [...]
Barclays stops banking cryptocurrency exchange Coinbase August 14, 2019 Barclays is no longer providing banking services for cryptocurrency exchange Coinbase, according to reports by Reuters. The bank had been providing services to Coinbase since the exchange’s European expansion in March last year, making it easier for its users to purchase cryptocurrencies with sterling and withdraw funds. Coinbase, which is based in San Francisco, brokers [...]