The Treasury has held secret meetings with the US Department of Justice to speed up a hefty RBS fine February 10, 2018 The UK Treasury has held a secret meeting with US officials to chivvy along a several-billion pound fine for Royal Bank of Scotland (RBS), Sky News has reported. The fine, which has been estimated by some analysts to be worth more than £5m, would draw a line under the bank’s pre-bailout misconduct relating to the [...]
European mega asset manager Amundi has lifted its 2020 profit expectations – but not as much as expected, causing shares to slide February 9, 2018 One of Europe’s largest asset managers, Paris-headquartered Amundi, has lifted its 2020 targets this morning, though not as much as analysts were hoping. The firm said in an update this morning that all targets announced at the time it floated in 2015 have been surpassed. It added that it would lift its expectations for the [...]
Strong results from Hargreaves Lansdown fail to beat a FTSE slump February 6, 2018 Investment platform Hargreaves Lansdown succumbed to the FTSE slump this morning, as its share price fell more than three per cent despite a strong set of first-half results. The figures Hargreaves’ net revenue climbed 17 per cent year-on-year to reach £216m, smashing through consensus predictions of £212.9m. Profit before tax meanwhile jumped 12 per cent [...]
Britain’s big banks decline to follow Lloyds lead on bitcoin credit card bans February 5, 2018 Lloyds Banking Group has banned customers from buying bitcoin and other cryptocurrencies using credit cards, but other big British banks say they currently have no plans to clamp down on the risky assets. A wave of lenders around the world have placed restrictions on customers using debt to buy digital currencies, including JP Morgan Chase, [...]
Co-operative Bank appoints Bob Dench as new chair to try to steer turnaround February 2, 2018 The Co-operative Bank has poached Bob Dench from Paragon Banking Group to be its new chairman as the struggling lender tries to turn around its business, it announced today. Dench will join the board as chair on 14 March, after Dennis Holt, who has been chair since October 2014, steps down to retire in May. [...]
‘Supermarket giants doomed’ – no, just history repeating February 2, 2018 Investors, analysts, journalists or other market commentators often become convinced some scenario or trend definitely will or will not play out. Check back a few years later, however – always anyone bothers – and that certainty may prove unwarranted. Three or four years ago, for example, many were arguing it was ‘game over’ for supermarket [...]
Dragons’ Den star Julie Meyer’s bust venture capital firm Ariadne Capital owed almost £2m to employees and advisers, administrators’ report reveals February 1, 2018 The venture capital and corporate finance firm of former Dragons’ Den star Julie Meyer, which was put into administration at the end of last year, owes almost £2m to unpaid employees and advisers, City A.M. can reveal. Ariadne Capital, which was founded and owned by TV personality Julie Meyer, owes £530,692 to 14 current and [...]
Dragons’ Den star’s bust corporate finance firm owed almost £2m to employees and advisers, administrators’ report reveals February 1, 2018 The corporate finance firm of former Dragons' Den star Julie Meyer, which was put into administration at the end of last year, owes almost £2m to unpaid employees and advisers, City A.M. can reveal. Ariadne Capital, which was founded and owned by TV personality Julie Meyer, owes £530,692 to 14 current and former employees, according [...]
Craft beer maker FourPure to create 20 new London jobs with £2.5m brewery investment in Bermondsey January 31, 2018 Craft brewer FourPure has put £2.5m into expanding its Bermondsey brewery, increasing capacity by 400 per cent. The project will create 20 new jobs and allow the brand, which is stocked in the likes of M&S, Tesco, Asda and Ocado to keep up with demand. Co-founder Daniel Lowe said the company was now talking to [...]
Facebook, Apple, Alphabet, earnings preview: The “big tech” backlash has yet to reach Wall Street January 28, 2018 A flurry of earnings from the world’s biggest tech companies are this week expected to show consumer and investor appetite has not yet been dampened by a growing backlash. Apple, Facebook, Google parent Alphabet, Amazon and Microsoft are worth almost three trillion dollars between them and make up half of the top 10 most highly [...]