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 [...]
Tories draw up new Brexit battle lines June 30, 2019 The Conservative party’s final two contenders for prime minister bulked up their plans for a showdown with Brussels over the weekend, while the frontrunner – Boris Johnson – also sought to talk up his pro-business credentials. Confronted about an incident last year in which Johnson said “f*** business” during a Brexit debate, the former London [...]
City lookahead: Analysts forecasting drop in sales at Sainsbury’s June 30, 2019 Sainsbury’s is expected to reveal a dip in sales when it posts its quarterly results later this week, as a spell of poor weather and an increasingly competitive retail market weighs on the supermarket giant. The grocery chain is forecasted to post no improvement in its sales on Wednesday, underlining the firm’s current challenges in [...]
Legoland owner Merlin Entertainments secures £4.8bn takeover offer June 28, 2019 Legoland and Madame Tussauds owner Merlin Entertainments today said it has secured a £4.8bn takeover offer led by the owners of Lego. Merlin said it has reached an agreement on an offer of 455 pence per share tabled by Kirkbi, the investment vehicle of the Danish billionaire family behind Lego, and private equity firm Blackstone. [...]
Debate: Is there any merit to Labour’s ‘financial totalitarianism’ plans to tackle climate change? June 27, 2019 Q: Is there any merit to Labour’s ‘financial totalitarianism’ plans to tackle climate change? Yes – Angus Satow is co-founder of Labour for a Green New Deal. The free market is failing us. Despite enjoying free rein following Margaret Thatcher’s deregulation programme, the UK’s financial system has been completely unable to tackle the climate crisis. [...]