Barclays is working with startup Flux to make your receipts digital and paperless November 13, 2017 Barclays is the latest major bank to turn to a startup as we approach the era of Open Banking, when high street banks will have to work even harder to keep up with newer and more digital rivals. The bank is working with Flux, a UK fintech, for making receipts digital, initially in a trial [...]
Sabre insurance reveals plans for £213m float with boss saying: “It’s not all young drivers in hot hatches” November 13, 2017 Quirky British car insurer Sabre today announced plans to raise £213m from a London stock market listing. The move will enable private equity firm BC Partners to realise part of its investment into the Dorking-based firm. BC, which paid £240m in 2013 for the firm, will retain a “significant stake” in Sabre post-float. Sabre specialises [...]
Barclays is working with startup Flux to make your receipts digital and paperless November 13, 2017 Barclays is the latest major bank to turn to a startup as we approach the era of Open Banking, when high street banks will have to work even harder to keep up with newer and more digital rivals. The bank is working with Flux, a UK fintech, for making receipts digital, initially in a trial [...]
Deutsche Bank opts for Barclays, Citigroup and Credit Suisse to be senior bookrunners on its asset management arm IPO, Reuters reports November 11, 2017 Deutsche Bank has chosen Credit Suisse, Barclays and Citigroup to be the senior bookrunners for the flotation of its asset management unit, according to reports. A source close to the matter told Reuters Deutsche Bank had selected the heavyweight lenders to assist the initial public offering, though a spokesman for Deutsche Asset Management declined to [...]
Bakkavor causes confusion by announcing IPO pricing a week after cancelling float November 10, 2017 Bakkavor has caused confusion this morning after announcing the pricing details for an IPO which it said last week would no longer go ahead. The group, which makes prepared foods for supermarkets, said last Friday that it had not received sufficient institutional demand for its proposed offering and that it would not be in the [...]
Theresa May to meet EU business bosses in Brexit charm offensive November 9, 2017 Prime Minister Theresa May will meet EU business organisations on Monday as part of a charm offensive to coincide with the next round of Brexit negotiations. May will tell the business leaders the government is committed to an “implementation period of around two years” after Brexit, 10 Downing Street announced this evening. Firms on both [...]
Deutsche Bank CEO John Cryan hints at thousands of job losses as employees are replaced by tech November 8, 2017 The chief executive of Deutsche Bank has hinted thousands of jobs could soon be cut at the global institution, as technology developments including machine learning slash the need for human workers. John Cryan suggested that tens of thousands of jobs could be eliminated as the bank, which has a hefty investment banking presence in London, [...]
HSBC and Barclays throw weight behind green finance projects November 6, 2017 HSBC and Barclays added their weight to the growing area of green finance today, with separate commitments to environmentally friendly schemes. HSBC today said it will provide $100bn in sustainable financing and investment by 2025, with support for “clean energy and lower-carbon technologies”. Unveiling a series of measures on the environment, HSBC announced it will [...]
FTSE 100 hits another record closing high as commodity prices rise November 6, 2017 A meagre gain of less than two points today was enough for the FTSE 100 to post its second consecutive record close, in spite of a stronger pound. London’s benchmark index closed at 7,562.28 points, a 0.03 per cent gain from Friday’s close. Oil companies and miners were among the leading performers as commodity prices [...]
Challenger bank Aldermore recommends £1.1bn takeover offer from FirstRand | City A.M. November 6, 2017 After a month that has seen its share price rocket, Aldermore finally announced this morning that it would recommend a takeover offer from South Africa’s FirstRand valuing the business at £1.1bn. FirstRand, which with a £15.8bn market value is South Africa’s largest financial services institution, announced in October that it had made an approach to [...]