Bloomberg Square Mile Relay returns to London for its 10th edition — can Barclays beat the likes of JP Morgan and Macquarie once again? September 22, 2016 Over 1,000 runners will swarm the streets surrounding Guildhall this evening as the Bloomberg Square Mile Relay celebrates its 10th anniversary in the City. Bloomberg's 10-legged relay race has been exported to financial hubs in Shanghai, Singapore, Hong Kong, Dubai, Sydney and New York but returns to the site of its inception in 2007 on Thursday evening when [...]
City Moves for 22 September | Who’s switching jobs September 22, 2016 Societe Generale Societe Generale has appointed Carlos Goncalves as head of global technology services. He replaces Bertrand Lemarignier who will take up a new position within the group. Carlos started his career in the research and development team of Portugal Telecom before joining Societe Generale in 1993 as part of the IT department. Carlos was initially in [...]
Before the bell: What you need to know before the US market open September 21, 2016 Markets are already cheering the US Federal Reserve and Mylan's chief executive is set to answer questions on the latest drug pricing scandal. Here's what you need to know before the US open at 2:30pm. The US pre-market is climbing ahead of the open, betting the Fed will not move to hike interest rates when it [...]
Banking shares bolster FTSE 100…except for RBS September 21, 2016 Banks' investors have a reason to celebrate this morning, as share prices among lenders are on the rise – with the exception of RBS. At time of writing, Barclays is the biggest riser of the FTSE 100, while shares in HSBC, Standard Chartered and Lloyds Banking Group are also up, after the Bank of Japan [...]
Why big banks have lost their way, according to the boss of Arbuthnot Latham September 20, 2016 Banking's biggest players have forgotten how to fine tune their wealth offerings, creating opportunities for some of the sector's smaller firms, according to the boss of one long-established private bank. Speaking to City A.M., Ian Henderson, chief executive of Arbuthnot Latham, said his bank's strategy was "around continuing to nibble away at customers either disenfranchised or unhappy with [...]
This consulting firm has created an “editable” blockchain and people are puzzled September 20, 2016 Blockchain, heralded in part for keeping an immutable record of transactions, could soon become editable. Accenture has patented a prototype for making changes to it in "exceptional circumstances" to take into account errors recorded such as so-called fat finger moments, or, human error. “As we focus on new uses for blockchain technology beyond the realm of cryptocurrency, absolute immutability will become both [...]
Sterling falls below $1.30 to five-week low September 20, 2016 The pound has lost its shine today, falling below crucial levels against both the euro and the dollar. By early afternoon sterling was trading down 0.6 per cent against the greenback at $1.2959 as speculation ahead of the US Federal Reserve's meeting grips the currency markets. Against the euro, the pound dipped 0.5 per cent to [...]
Two banks are betting on the US raising interest rates tomorrow September 20, 2016 The world's most important central bank meets tomorrow to decide whether to raise interest rates for only the second time since the financial crisis. This week is realistically the US Federal Reserve's last chance to change rates before the US election. While the rate-setting Federal Open Market Committee (FOMC) will meet just one week before the 8 [...]
City Moves for 20 September 2016 | Who’s switching jobs September 20, 2016 Newcore Capital Management Newcore Capital Management, the alternative real estate investment manager, has made two appointments to support its growth strategy. Neil Sarkhel has joined as an associate and Iain Cobban has joined as an assistant investment manager. Neil will be responsible for underwriting potential acquisitions and disposals, while leading on a number of business [...]
Shares in European lenders finish lower after Deutsche Bank is asked to pay $14bn over mortgage-backed securities claims September 16, 2016 Shares in British banks finished at the bottom of the FTSE 100 after Deutsche Bank after it admitted it had been asked to pay a massive $14bn (£10.6bn) fine by the US Department of Justice (DoJ). Shares in the lender were down 8.5 per cent at €11.99, its worst day of trading since the day after the Brexit vote, after it said in [...]