Boris Johnson’s best moments as London mayor: The good, the bad, and the slightly awkward May 5, 2016 You might have missed the news, but Boris Johnson is clearing his desk today as a new mayor of London is soon to be named. As Bojo packs his bags, The Capitalist looks back on his best, worst and most awkward moments from his time in office. The Good The Time He Was First Elected former mayor [...]
Barclays’ plans to offload 12 per cent of its Africa business won’t affect talks with former chief executive Bob Diamond May 4, 2016 Barclays' plans to sell off a 12 per cent stake of its African business has not derailed talks between the bank and it's former chief executive Bob Diamond, City A.M. understands. "It doesn’t make the slightest jot of difference," a source with knowledge of the early-stage negotiations told City A.M. Atlas Merchant Capital, the US-based arm of Bob Diamond's banking investment [...]
Paddy Power Betfair lost big at the Cheltenham Festival but posts healthy growth in first quarter financial results May 4, 2016 Newly-merged Paddy Power Betfair's share price has fallen over three per cent after the company posted its first quarter revenues this morning, as the company was hit by "adverse" sales results following a harrowing Cheltenham festival. The figures Paddy Power Betfair's revenues were up 16 per cent to £339m across all four of the company's divisions: online, [...]
Before the bell: What you need to know before the US market open May 4, 2016 US stock futures are heading south in New York, following most European markets moving downwards in early afternoon trading. Asian markets recorded small losses by their close this morning. A little earlier the S&P was down by 0.64 per cent, while the Nasdaq was off by 0.72 per cent, and the Dow 0.53 per cent [...]
Barclays has just started offering a 100 per cent mortgage (but bank of mum and dad is still required) May 4, 2016 We all know how well 100 per cent mortgages worked before the financial crisis – but now Barclays has become one of the first lenders since the crisis not to require a deposit from first-time buyers. Well, sort of. The lender said it has made changes to one of its first time buyer mortgages which means borrowers [...]
Britain’s challenger banks had a bumper 2015 – but now they’re facing the challenges of scale May 4, 2016 Amid the misery and bad news associated with UK banks since the crisis, one of the positive rays of light has been the challenger banks. They have grown quickly, with several listing last year as the sector continues to attract both customer and investor interest. The challengers have also long been feted by politicians as [...]
Leicester City: Premier League champions could boost tourism to Britain May 3, 2016 Leicester City's historic Premier League triumph could provide a boost to Britain's £26bn tourism industry, according to experts. The Premier League was already the number one sporting draw for international tourists ahead of this season, but Leicester's incredible against-the-odds campaign could further increase the value of "football tourism" and provide the town with an influx of [...]
Nutmeg chief Nick Hungerford is stepping down May 3, 2016 One of the UK’s best known fintech entrepreneurs Nick Hungerford is stepping down as chief of the Nutmeg, the wealth management startup he co-founded. The firm, which has landed millions of pounds in backing from the likes of Schroders, has named revenue chief Martin Stead his successor and Hungerford will become a non-executive director. Here’s what [...]
Employers rely on this many workers from elsewhere in the EU May 3, 2016 UK employers rely on a workforce made up of over one million EU workers, a study out today has found. According to the research by Adecco and the Social Market Foundation, there are 1.6m employees in the UK who hail from somewhere else in the European Economic Area (EEA) or Switzerland, which equates to around [...]
Why this boutique investment bank sees positives no matter which way the EU referendum goes May 2, 2016 It's difficult to find many investment banks feeling cheery about 2016. Global first-quarter revenues dropped to their lowest levels since 2009. Banking giants have reported double-digital percentage profit falls. And thousands of jobs have been lost. But Zeus Capital, a boutique investment bank founded in 2002, offers a success story. Albeit while operating on a [...]