Cheltenham Festival 2016: Rich Ricci’s £20,000 gamble pays off as Annie Power banishes bad memories with Champion Hurdle win March 15, 2016 Jockey Ruby Walsh toasted Rich Ricci’s five-figure gamble after Annie Power put last year’s heartache behind her with a dominant win in the Champion Hurdle on the first day of the Cheltenham Festival. The mare was only entered into the race last week at a cost of £20,000 to former Barclays investment banking chief Ricci [...]
Barclays gives top bosses, including new chief executive Jes Staley, £8.7m in shares March 15, 2016 Barclays revealed today that it slashed the value of shares awarded to its top bosses this year following a drop-off in share price, handing new chief executive Jes Staley and others stock worth £8.7m – nearly half of the £16.4m announced in March of last year. Barclays said the total number of shares awarded to directors and senior executives today was [...]
Berenberg warns investors should be underweight Britain’s big banks, including Barclays, Lloyds and Royal Bank of Scotland (RBS) March 15, 2016 Analysts at Berenberg have said investors should be wary of Britain’s big banks, amid expectations that mortgage profitability will fall below 10 per cent. “We think interest rates will remain at low levels and, as a result, expect mortgage margins to fall by six basis points per year,” Berenberg’s banks team said in a note [...]
How to become an Isa millionaire: Embrace consistent saving and the wonders of compounding to make a million without clever stock picking March 15, 2016 It sounds like an unachievable dream, but people with more than £1m within their Isa are not quite as rare as you might think. Last March, Barclays Stockbrokers revealed that 67 of its clients had already achieved that financial milestone, while Telegraph research put the total number in the UK at around 200. Although Isas have only [...]
Cheltenham Festival 2016: Where to people-watch and be seen at the races this week March 14, 2016 “In terms of the City, it’s huge," was the view of Peter Burrell, chief exec of jockey Frankie Dettori’s manager Seven Stars, on the topic of Cheltenham Festival when The Capitalist caught up with him last week. Ascot may have royal prestige, but the races in Gloucestershire are designed with city slickers in mind. Whether it’s [...]
National Apprenticeship Week starts today, but City big-guns have been investing in young talent for years March 14, 2016 Today marks the start of National Apprenticeship Week, when London’s businesses raise awareness of the opportunities open to aspiring financiers and school-leavers. Apprentice programmes may be making headlines this week but the founder of one City-based charity says that the Square Mile’s top dogs have been investing in youngsters for years. David Pinchin, who founded [...]
Budget 2016: Chancellor George Osborne to kick start £16bn B&B sell-off March 12, 2016 Chancellor George Osborne is gearing up to kick start a £16bn sale of bailed-out banking group Bradford and Bingley (B&B) loans in next week's Budget. Osborne decided to include the projected sale of the mortgage lender on Wednesday, following weeks of discussions with Treasury officials. The timing of the auction is unclear, and it may not conclude for months, giving investor's appetites [...]
The UK is the sport industry capital of the world – its businesses must lead the way with corporate responsibility March 11, 2016 In case you hadn’t noticed, the UK is sport mad. We watch, discuss, engage and play sport with great passion. So it’s not surprising that we are pretty damn good at the business of sport as well. Led by the Barclays Premier League we have an industry worth an estimated £24bn per year. But more [...]
Don’t worry, be happy: FTSE 100 shakes off its ECB woes to open higher, pushed up by Aviva March 11, 2016 The FTSE 100 stormed back into positive territory this morning, after a miserable finish to yesterday's trading. The market was up 1.5 per cent at 6,131.6 points, after it edged perilously close to the 6,000 mark yesterday, when comments by European Central Bank chief Mario Draghi hinted rates are unlikely to be cut any further. [...]
Businesses and law enforcement must work closer together to stamp out cyber crime, warn cyber security experts March 10, 2016 Cyber crimes could be better prevented and dealt with if businesses and law enforcement worked closer together, a panel of cyber security experts has urged this evening. Esther George, author and former senior policy advisor for the Crown Prosecution Service, told a roundtable event hosted by access rights management consultancy 8Man: "If [businesses] would share some of [...]