Litigation funder Vannin Capital eyeing multi-million pound London float April 29, 2018 Litigation funder Vannin Capital is working with advisory firm Evercore on plans for a London float that could value it at close to £1bn. Sky News reports that the litigation funder is working with investment advisory firm Evercore on a potential float and is close to appointing banks Barclays and Jefferies as underwriters on the [...]
FCA’s guidelines are undervaluing consumers’ PPI claims by billions of pounds, barristers allege | City A.M. April 27, 2018 Barristers from St John’s Buildings are claiming that consumers could be underpaid by billions of pounds if banks follow the financial regulator’s guidance on Payment Protection Insurance (PPI) payouts. The Financial Conduct Authority (FCA) is ignoring legal cases which mean consumers may be owed around £14bn more than under its own guidelines, the barristers have [...]
Nex and CME’s advisers to land bumper £110m payout for negotiating £3.9bn takeover April 25, 2018 Advisers who worked on the £3.9bn takeover of trading tech company Nex Group by CME Group, the world’s largest futures exchange, are set to land a combined payout of almost £110m. Nex’s financial and corporate brokers, lawyers and public relations (PR) advisers will get a combined £45m, filings today showed, while CME’s will get £63.3m. [...]
Activist investor Bramson ups stake in Barclays April 25, 2018 Activist investor Edward Bramson has boosted his stake in Barclays ahead of the bank’s quarterly results on Thursday. Bramson has increased his share in the bank from 5.16 per cent to 5.41 per cent via his investment vehicle Sherbourne, according to a stock exchange filing. The bank is set to release its results for the [...]
Barclays boss Jes Staley fined for whistleblower scandal April 20, 2018 Barclays boss Jes Staley will pay a fine after an investigation into his attempts to identify a whistleblower, but has escaped further sanctions. Shares in the bank inched up 0.6 per cent in early trading as investors showed signs of relief that the investigation had concluded. The group announced this morning that the FCA and [...]
What Facebook’s downfall will mean for the future of fintech April 20, 2018 The year began with headlines predicting the entrance of Facebook and Google into the banking market, following the introduction of new Open Banking rules which forced banks and payment companies to share data with third parties if customers agreed. The changes were meant to boost account switching and improve price comparison, but some speculated that [...]
Retail sales fall on weather hit but department stores provide unlikely bright spot April 19, 2018 Retail sales fell in the three months to March as bad weather froze petrol sales, although department stores provided an unlikely bright spot thanks to improved web traffic. The volume of sales fell by 0.5 per cent in the three months to March, in line with economists consensus expectations, according to the Office for National [...]
JP Morgan teams with Blackrock to create new bond market indices focused on the environment and governance April 18, 2018 JP Morgan has teamed with asset management giant Blackrock to create a new suite of indices based on environmental, social and governance (ESG) factors. The JP Morgan ESG (JESG) index will integrate these concerns into a benchmark, and will help bond investors find issuers with strong ESG practices. It will initially be available for three [...]
Barclays sets up venture capital unit April 16, 2018 Barclays has established a new venture capital arm led by its former head of strategy in a bid to add a new revenue source. Barclays UK Ventures will be headed by Ben Davey, who will also join Barclays UK’s executive committee as part of the move. The unit will aim to add a “a significant [...]
Activist investor Ed Bramson reportedly approaches shareholders over Barclays investment bank shake-up April 16, 2018 Activist investor Ed Bramson has started approaching Barclays shareholders in an attempt to gain their backing for big changes to the investment bank, according to reports. Bramson, the boss of Sherborne Investors Management, has told large investors he wants the bank to up returns from its investment bank and increase payouts to shareholders, the Sunday [...]