Bosses of Citi, JPMorgan and Barclays slam equivalence as “‘insufficiently load-bearing’ for post-Brexit financial services trade September 11, 2018 Banking bosses have stressed that the government must push for a vastly improved equivalence regime, warning that the current system is "insufficiently load-bearing". Speaking before MPs of the Treasury Select Committee this morning, executives from Barclays, Citigroup and JPMorgan said they were already implementing their no deal contingency planning to ensure they were able to [...]
CYBG’s £1.7bn takeover of Virgin Money approved by shareholders September 10, 2018 Shareholders have backed banking group CYBG's £1.7bn takeover of Virgin Money. CYBG, which owns Yorkshire Bank and Clydesdale Bank, and Virgin Money held general shareholder meetings this morning where three motions related to the deal were passed with an overwhelming majority. Read more: Virgin Media wins landmark legal case against council over land access All three resolutions were passed [...]
iPhone XS, Apple Watch 4, Mac Mini: Everything you need to know about Wednesday’s Apple event September 7, 2018 Apple is set to announce a whole new slate of products on Wednesday, including updates to the iPhone, iPad, Apple Watch and Mac lines. Here's a roundup of what we've heard might come across the Steve Jobs Theatre stage this year. Three new iPhones Yes, you read that right. This year, Apple is slated to [...]
Impeach Trump? It wouldn’t affect the US economy one jot, says Barclays September 6, 2018 Impeaching President Donald Trump would have little to no effect on the fortunes of the US economy, according to Barclays. Trump said the economy would crash in the event of his impeachment, leaving everybody “very poor”, in an interview with Fox News last month. In reality, whether Trump sees out his four-year term in the [...]
Weir Group share price falls on ‘softening’ industry demand September 6, 2018 FTSE 250 firm Weir Group’s share price sunk up to six per cent on news of “softening” demand for original equipment this morning. Shares fell to £16.76 in early morning trading, as the engineering firm issued an unwelcome update about its North American oil and gas market activity. “There was a considerable softening in demand [...]
Private equity firm BC partners exits Sabre Insurance with £116m share sale September 5, 2018 Sabre Insurance founder Angus Ball and private equity fund BC Partners today sold £116m shares in the car insurance company. The share sale means that former majority shareholder BC Partners has sold its remaining holding in the company while Ball now holds a 1.8 per cent share. Read more: Private equity firm Apollo takes Aspen [...]
City Moves for 5 September 2018 – who’s switching jobs at Barclays, Earthport and Capital One? September 5, 2018 Today's City Moves covers green banking, cross-border payments and bank holding. Take a look at these movers and shakers: Barclays Barclays has made two appointments to strengthen its green banking client offering. Rhian-Mari Thomas has been appointed as global head of green banking; Victoria Land (pictured) will lead DCM origination in SRI and green bonds. [...]
British manufacturing growth slower than expected as export sweet spot ends September 3, 2018 The British manufacturing export boom ended in August as the sector grew at the slowest pace in more than two years, according to a closely followed survey. The purchasing managers' index (PMI) for the manufacturing sector fell to a 25-month low of 52.8 for the month, the figures from IHS Markit showed, as export orders [...]
Swiss bank UBS closes in on US rivals in FTSE 100 broker rankings September 3, 2018 Swiss bank UBS has closed the gap on its US rivals at the top of the FTSE 100 stockbroker ranking list for the third quarter (Q3), moving up to joint third place with 22 clients. UBS, which acts for blue chip companies such as oil major BP, mining giant BHP Billiton and consumer goods company [...]
TSB plunges to bottom of banking customer service poll following IT meltdown August 31, 2018 TSB has plummeted from 4th to 11th in a banking customer service poll following its recent IT disasters. Forty nine per cent of those who graded TSB’s service in the MoneySavingExpert.com poll rated it as “poor” with just 23 per cent describing its service as “great”. Read more: TSB forced to delay switch from Visa to [...]