See us after class: Disappointing back to school week for FTSE 100 as retailers drag it lower September 9, 2016 The FTSE 100 had a decidedly wobbly start to the school year, finishing the first full week of September 1.7 per cent lower than it started. Having come tantalisingly close to the 7,000 mark last week, it finished today at 6,776.95 points, 1.2 per cent down. "You’d be forgiven for falling asleep this afternoon," complained SpreadEx financial analyst [...]
City Moves for 8 September 2016 | Who’s switching jobs September 8, 2016 Colliers International Global real estate advisor Colliers International has appointed Sorcha Murphy to its EMEA corporate solutions team as an associate director. Sorcha joins Colliers from JLL, where she’s spent the past 10 years in their corporate solutions department, working as a portfolio manager on some of their largest corporate accounts. Whilst employed by JLL, Sorcha worked [...]
Andrew Tyrie blasts banks as they come clean on overdraft fees September 6, 2016 Influential Tory backbencher Andrew Tyrie has blasted UK banks for their bewildering array of overdraft fees and charges and called for customers to be given more information about their accounts. Tyrie, who chairs the Treasury Select Committee (TSC), also criticised recent proposals from the Competition and Markets Authority (CMA) to encourage customers to switch bank accounts. [...]
Barclays raids JP Morgan for new boss of Corporate and Investment Bank September 5, 2016 Barclays has turned to fellow banking giant JP Morgan for the new boss of its Corporate and Investment Bank, it was announced today. Tim Throsby, currently global head of equities at JP Morgan, is expected to join Barclays as president of Barclays Corporate & International and chief executive of Barclays Corporate and Investment Bank in January next year. Throsby, [...]
Now you can open a HSBC account with a selfie September 5, 2016 Forget passwords and pins, but now its not even fingerprints or eye scanning that is replacing these traditional security measures — it's selfies. HSBC will now let its business customers open an account simply using a selfie thanks to facial tracking technology, a type of biometrics which is becoming increasingly popular among firms as a way of making [...]
CBI beefs up London leadership team in preparation for Brexit negotiations September 5, 2016 Business group the CBI has refreshed its London leadership team as the organisation prepares for a turbulent few years representing the capital’s firms in the wake of the Brexit vote. Vivian Hunt, managing partner for top consulting firm McKinsey’s UK and Ireland offices will become chair of the CBI London council, while CBI insider and [...]
Telegraph publisher reports falling profits in “challenging” environment September 3, 2016 The publisher of the Daily Telegraph has reported falling profits, in line with many other Fleet Street titles this year. The figures Telegraph Media Group (TMG) which is owned by Sir David and Frederick Barclay, has reported an operating profit of £51.7m in the 53 weeks to 3 January this year. The company’s operating profit in [...]
Foreign exchange trading flops as London loses market share, according to the Bank for International Settlements September 1, 2016 Foreign exchange trading around the world has fallen over the course of three years, with London in particular losing market share. Global foreign exchange trading averaged $5.1 trillion (£3.8 trillion) a day in April, down from $5.4 trillion for the same month in 2013. It is the first time a fall has been recorded by the Bank for International Settlement's [...]
Man arrested in connection to banker Oliver Dearlove’s murder September 1, 2016 Police investigating the death of banker Oliver Dearlove have arrested a man on suspicion of murder. The 31-year-old man was arrested this morning and is currently in custody at a south London police station. Thirty-year-old Dearlove, who was a relationship manager for Duncan Lawrie Private Bank and who was living with his girlfriend in Eltham, died in hospital after being assaulted [...]
PCP Capital Partners alleges Barclays loaned $3bn (£2.3bn) to Qatar to fund purchase of bank’s shares September 1, 2016 An investor is alleging Barclays handed Qatar a $3bn (£2.3bn) loan so it could purchase the bank's shares. PCP Capital Partners has filed documents containing the allegation at the High Court. According to documents seen by Sky News, which first reported the story today, the alleged loan was made in 2008, at a time when the [...]