Competition and Markets Authority (CMA) delays publication of retail banking review until August March 7, 2016 The Competition and Markets Authority (CMA) has confirmed plans to delay the publication of its long-awaited review into the retail banking market, saying today that the results of the probe will not be published until the end of the summer. In a statement this morning, the CMA put forward more recommendations to help customers understand [...]
Barclays appoints CMC Capital’s Carlo Calabria as chairman of mergers and acquisitions in Europe, the Middle East and Africa March 7, 2016 Barclays has appointed founding partner of CMC Capital Carlo Calabria as chairman for mergers and acquisitions in Europe, the Middle East and Africa (EMEA). Calabria is one of nine new people employed to Barclays' investment banking operations from CMC Capital. "Carlo will work closely with Pier Luigi Colizzi, Head of M&A EMEA, to help accelerate the [...]
Aviva set to report £100m impact from UK floods while Prudential will post another year of earnings growth March 6, 2016 Aviva is set to reveal the UK floods in December put a £100m dent in earnings for 2015 when it reports its annual results on Thursday. The impact of the floods, as well as the recently announced acquisition of RBC Insurance in Canada, is likely to drag operating earnings per share from 49.2p to 47p, [...]
From pensions panic and Barclays bungles to Brexit blues and half pint horrors: Here’s what got us talking this week March 4, 2016 There was a hush hush high profile wedding. There were some fancy cars. And there was the disappointing discovery that having a job actually costs you money. Here's what got us talking 1) Pensions panic Retirees at both ends of the spectrum continued to fret over changes to their pension scheme. In one corner, we [...]
From Barclays to UBS and Lloyds: Here’s how much City banking interns earn March 4, 2016 If you’re planning to give up your university summer break, you may want to make sure you’re being adequately reimbursed – especially if you’re working long hours in one of London’s biggest banks. But asking about pay in an interview can be awkward, so where do you turn? Careers website Glassdoor.com has all the information you need [...]
UCAS forms at the ready: Manchester Metropolitan University is offering students the chance to get paid while studying, and Pinsent Masons is just one of the companies paying students to study March 4, 2016 With competition for entry-level jobs scarily high, choosing whether to plump for a university degree or some extra years of work experience can be a daunting decision. However, some employers and educational establishments are looking at ways to offer bright young things the best of both worlds. In just under a fortnight's time, Manchester Metropolitan University [...]
Mastercard plots £1bn bid for Vocalink after banks told by regulator to give up stakes in payments handler March 3, 2016 Mastercard is plotting a bid for bank-owned payments handler Vocalink, it has been reported. Sky News said the credit card issuer has approached the board of Vocalink over a deal that could be worth up to £1bn. The approach comes shortly after the new payments industry regulator said Vocalink’s current ownership structure is "hampering competition and [...]
Consumer goods groups challenge financials to become biggest sector in FTSE 100 as Barclays, HSBC, RBS and Standard Chartered share prices plummet year-to-date March 3, 2016 Consumer goods groups are challenging the dominance of financial firms in the FTSE 100 for the first time in a decade. The two sectors are neck-and-neck, with consumer goods actually overtaking financials briefly during February, rising to account for 20.85 per cent of the FTSE 100, compared with 20.61 per cent, before slipping back down again. [...]
New Barclays much like the old Barclays, a hard pill to swallow for GlaxoSmithKline and Wilson’s next Legal & General move March 3, 2016 John McFarlane is a man fond of bold actions and even bolder words. The Barclays chairman confidently predicted last July that the bank’s shares – then worth 260p – would double within three years. After this week, though, even returning to the anaemic level of last summer looks a lofty ambition. “Investors” and “long-suffering” have become inseparable [...]
City Moves for 3 March 2016 | Who’s switching jobs March 3, 2016 Watson Day Chartered surveyor firm Watson Day has appointed Richard Turnill as a partner. He joins partners Nick Threlfall, Ian Gutteridge, Julian Scannell and Kevin Dempster, who founded Watson Day in 1989. Richard qualified as a chartered surveyor in 2007, following a graduate position at Cluttons. In 2009 Richard joined Glenny’s south east London and [...]