The FTSE fell sharply at the open as bank stocks slid and Opec spooked oil markets November 28, 2016 The FTSE 100 is recovering slightly after posting a sharp fall at the open on Monday, as oil and bank stocks weighed on the index. The Bank of England is set to announce the results of its stress tests for UK banks on Wednesday. The stress tests investigate how the banks would fare in a [...]
Wife of jailed Libor trader vows they will move on with their lives after his request for appeal is rejected November 27, 2016 The wife of an ex-Barclays trader jailed for Libor-rigging offences has promised they will move forward with their lives after his request to appeal was turned down. Alex Pabon, along with fellow former Barclays bankers Jay Merchant and Jonathan Mathew, was found guilty of conspiracy to defraud in July. City A.M. revealed in August the trio had applied to appeal their [...]
What you need to know about the Bank of England’s stress test on Wednesday November 27, 2016 Wednesday will be judgement day for lenders across the UK, as the Bank of England is due to release its most recent set of stress test results. The annual stress test is designed to measure the financial health of the UK's seven major lenders – Barclays, HSBC, Lloyds Banking Group, Nationwide Building Society, the Royal Bank of [...]
City Moves for 24 November 2016 | Who’s switching jobs November 24, 2016 AEW AEW has appointed Hans Vrensen as European head of research and strategy. Hans, who will be based in London and oversee teams in London and Paris, will report to Rob Wilkinson, CEO of AEW Europe and will work closely with AEW’s global platform. Hans’ responsibilities at AEW will include advising the investment and asset management [...]
Eh? Rolls-Royce and Game are among the 25 best UK companies to work for. Supposedly. November 23, 2016 An engineering giant which has issued a string of profit warnings, two retailers which recently came out of administration and a bank which was the centre of a major scandal this year are among UK employees' 25 favourite companies to work for, according to new research. Rolls-Royce came top of jobsite Indeed's Top Employers in Britain list. The [...]
Goldman Sachs and Santander have left a major blockchain group November 22, 2016 Goldman Sachs and Santander have both exited one of tech's top blockchain consortiums which is backed by some of the world's biggest financial institutions. Both institutions have quit membership of the R3 group and will not be investing in its latest reported funding round. Santander did not comment on its decision to depart R3, however, it's understood it will [...]
Red tape? What red tape, asks Atom Bank boss November 21, 2016 Up and coming lenders are not facing as many regulatory hurdles as you might think, the boss of one of the UK's newest challenger banks has said today. Speaking at the Confederation of British Industry annual conference, Mark Mullen, chief executive of Atom Bank, noted that the "regulatory hurdles have got better", not worse, since the [...]
Citi and JP Morgan top regulators’ list of systemically important banks, as HSBC and Barclays move to lower tier November 21, 2016 Citigroup has joined JP Morgan Chase as one of the world's top two "systemically important banks", according to an updated list published today by the Financial Stability Board (FSB). Banks in the top tier will have to hold 2.5 per cent of their assets as buffer capital in case of another crisis. This means that US [...]
The Titanic’s grade II-listed London ticket office has been turned into £5m luxury apartments November 21, 2016 Got £5m burning a hole in your pocket and an interest in gruesome maritime history? This might be for you: a developer has just unveiled a block of luxury flats in the building where the Titanic's ticket office was located. Grade II-listed Oceanic House, in Trafalgar Square, has been redeveloped into six luxury apartments, including [...]
Fraud squad to ask for Barclays tribunal to take place behind closed doors November 20, 2016 The fraud squad will tomorrow ask for an employment tribunal for an ex-Barclays exec to take place in private, on the grounds it could compromise its ongoing investigation into the bank. Since 2012, the Serious Fraud Office (SFO) is currently investigating Barclays' handling of an emergency funding exercise back in 2008. As part of that, the fraud [...]