Government kicks off next stage of £12bn student loanbook sell-off February 6, 2017 The government formally kicked off the next stage of its bid to sell £12bn-worth of student loans today. City A.M. revealed bankers from Barclays had been appointed to advise on the deal last month. Read more: Bankers appointed by government for latest student loans sell-off push The sale, which is being structured as a securitisation, is being [...]
Dodd-Frank reform could force UK to loosen financial services regulations February 5, 2017 The UK and the rest of Europe could come under pressure to loosen financial services regulations, analysts have said, after the President of the United States last week set in motion his plans to scale back rules across the pond. Donald Trump signed an executive order for the 2010 Dodd-Frank financial regulations to be reviewed on [...]
Donald Trump continues to make waves in markets round the world as FTSE 100 gains over the week February 3, 2017 The FTSE 100 ended the week in much the same position as it started, closing on Friday at 7,198.28 points, an intraday gain of 0.81 per cent after starting the week at 7184.49 points. Newly minted US President Donald Trump managed to talk down the dollar over the course of his second working week (with [...]
Bank shares rally as Donald Trump’s top economic adviser Gary Cohn signals the death of Dodd Frank February 3, 2017 Bank shares have risen on news Donald Trump will today roll back Dodd-Frank banking regulation, according to a senior member of the US President’s administration. Gary Cohn, the director of the White House National Economic Council, said dismantling the regulation, which is aimed at avoiding another Lehman-style crisis, means US consumers will have "better choices". "Americans are [...]
Government makes savings on latest board appointment for Premium Bond operator February 2, 2017 The government has appointed the new chief executive of National Savings & Investments (NS&I), the firm that looks after over £135bn of Treasury-backed savings. Ian Ackerley takes over from interim boss Steve Owen, who babysat the position after Jane Platt left last August following 10 years in the role. Platt moved on to concentrate on her position as a non-exec [...]
UK’s producers are quick off the blocks as Eurozone sees five-year high in manufacturing activity February 1, 2017 UK manufacturers have shrugged off big input price increases to start 2017 in fine form, while activity in the Eurozone has reached its highest point since a debt crisis almost brought the continent’s economy to its knees, according to closely watched indicators. Growth in the sector’s output reached its highest point since May 2014 as [...]
Tom Hayes has launched the next stage of his Libor appeal to the CCRC January 30, 2017 Tom Hayes, the first person in the UK to be found guilty of playing a role in the Libor-rigging scandal, has submitted an appeal to the Criminal Cases Review (CCRC). Karen Todner, the former UBS and Citigroup trader's solicitor, said Hayes has been the subject of a "gross miscarriage of justice" and she's confident the CCRC will [...]
It looks like Snapchat will IPO on the NYSE January 30, 2017 Snapchat parent company Snap has chosen the New York Stock Exchange for its hotly-anticipated IPO, CNBC is reporting. The NYSE triumphed in the battle with Nasdaq for the hottest tech float in quite some time. Snap is expected to file publicly for the IPO as soon as this week, Recode has reported, going public as early as March. [...]
Is Ireland Brexit-ready? Inside Dublin’s bid to win financial services power from London January 30, 2017 Riding the airport shuttle bus through Dublin’s financial services centre on a sunny January afternoon, and looking forward to a pint of Guinness at the journey’s end, the prospect of the City of London losing jobs to Ireland doesn’t seem too upsetting. Located to the east of the city on the River Liffey, the financial [...]
With reports Barclays has chosen Dublin for its EU HQ, will Ireland be the beneficiary of any City Brexodus? January 30, 2017 Daniel Mahoney, head of economic research at the Centre for Policy Studies, says Yes. Although Theresa May has provided a degree of clarity on the Brexit negotiations, remaining uncertainties mean that financial service firms will, inevitably, seek to implement some restructuring and contingency planning. Ireland is well placed to take advantage of this. Ireland shares [...]