Barclays profits fall as investment banking unit struggles ahead of Bramson showdown April 25, 2019 Barclays profits fell 10 per cent over the first three months of 2019 as its under-fire investment bank endured a “weak quarter” ahead of next week’s showdown with activist investor Ed Bramson. But chief executive Jes Staley said the investment bank outperformed all but one of its US rivals and gained market share for the [...]
A quarter of millennial festival-goers have fallen for ticket scams April 25, 2019 Tickets for some of the world’s most popular music festivals are so sought-after they sell out in minutes. Read more: MPs, stop trying to tout the demise of the secondary ticket market But new research has revealed ticket re-sales are a hotbed for opportunistic scammers, who are fleecing desperate music fans for hundreds of pounds. [...]
UK digital advertising spend jumps to £13bn as brands opt for smartphone ads April 24, 2019 Digital advertising spend hit £13.4bn last year as smartphone adverts overtook desktop for the first time, new figures have revealed. Data from digital advertising body IAB and PwC show UK ad spend jumped 15 per cent in 2018 amid a boom in digital formats. Read more: Digital advertising firm Teads posts double-digit revenue rise Ad [...]
Debenhams owners to outline plans to shut 20 stores April 23, 2019 Debenhams is poised to outline plans this week to bring forward the closure of 20 of its stores, according to Sky News. The new owners of the department store chain, which include Barclays and hedge fund Silver Point, will launch a company voluntary arrangement (CVA) in the next 48 hours that will allow it to [...]
Barclays shareholders urged to vote against executive pay over ‘inadequate’ response to whistleblowing scandal April 23, 2019 Barclays shareholders have been urged to vote against executive pay plans after the bank’s “inadequate” response to a whistleblowing scandal involving chief executive Jes Staley. Shareholder advisory group ISS criticised the measures taken by the bank following Staley’s attempts to unmask a whistleblower in 2016 and advised shareholders to vote down the remuneration report at [...]
Recruiter Hays’ share price slips after it lags fee expectations in trading update April 16, 2019 Shares in recruiter Hays dipped today after it announced lower-than-expected growth in its third quarter trading update. Read more: Profits grow at Robert Walters in a 'solid' first quarter Hays said net fee growth for the quarter was six per cent, below the consensus figure of seven per cent. The firm was hit by a [...]
Travelex-owner Finablr to raise $200m in London listing April 16, 2019 The owner of foreign exchange company Travelex today announced its intention to raise $200m (£153m) in a float on the London Stock Exchange. United Arab Emirates-headquartered payments and foreign exchange business Finablr said it expects to raise $200m with plans for a free float of at least 25 per cent of the company. The company’s brands [...]
Can European banks be saved by mergers and a fresh round of deal making? April 16, 2019 The comparisons with US peers just got a lot harder for European banks after a strong showing from JP Morgan to kick off earnings season. But could there be fresh revenue on the way for European investment banks, even if it is of their own making? There’s a mooted capital raising for Deutsche Bank before [...]
Activist Bramson implores Barclays shareholders for seat on board in new letter April 15, 2019 Activist investor Ed Bramson has once again appealed to Barclays’ shareholders to give him a seat on its board in the run up to the bank’s 2 May annual general meeting. Read more: Barclays launches another attack on Bramson as public tit-for-tat rolls on Bramson’s company, Sherborne Investors, today sent a letter to Barclays shareholders, marking [...]
The City’s towers rise up from ancient streets, and the contrast is sublime April 12, 2019 We can become desensitised to the rich history and incredible architectural tapestry that makes the City what it is. We can shuffle from Tube station to office to restaurant and home again, all without stopping as often as we should to take note of our surroundings and consider our immense good fortune that we work [...]