Barclays’ investment bank chief Tom King could be set to retire next month February 17, 2016 Tom King, head of Barclays' investment bank, is reportedly planning to retire as early as next month. King, who is based in New York and has worked for Barclays since 2009, has long been expected to step down from his post at the top of the bank's investment banking business, but multiple media reports out [...]
Oil production freeze deal: All eyes of Iran as Opec members try for its participation February 17, 2016 International attention will fall on Iran today, as Opec members try to secure its participation in what will be the first global oil deal in 15 years, potentially by offering its special terms. Today’s outcome is crucial because Saudi Arabia and Russia have said that the agreement to freeze production at January levels is contingent [...]
EU referendum: BT chairman Sir Mike Rake says British voters will choose to remain in the European Union as he takes up role at the International Chamber of Commerce February 17, 2016 Sir Mike Rake, who chairs both telecoms giant BT Group and the payment processing company Worldpay, has said that he expects Britain to remain in the European Union, even if the forthcoming EU referendum proves to be a closely-contested vote. “If common sense prevails and the facts can be got in the public domain, the [...]
FTSE 100 index opens higher as oil price rebounds on production freeze as Anglo American, BHP Billiton and Glencore share prices jump February 16, 2016 The FTSE 100 index opened higher this morning after markets were encouraged by quantitative easing hints from European Central Bank president Mario Draghi yesterday, as well as the rebounding price of oil. The UK's blue chip index rose 0.93 per cent to 5,878 points, led higher by Anglo American, BHP Billiton and Glencore. "European markets picked up where [...]
FTSE 100 index rallies after Asian markets as the share prices of Reckitt Benckiser and IAG rise February 15, 2016 The FTSE 100 index shot higher today after a rally on most Asian stock markets, despite poor trade data coming out of China. The UK's blue-chip index rose 2.26 per cent to 5,836 points in early afternoon trading, led higher by Reckitt Benckiser and British Airways owner International Consolidated Airlines Group (IAG). "No severe sell-off in Chinese markets after a [...]
Greed is not so good: Britain’s bankers are more stressed than ever February 15, 2016 It might be time to feel sorry for Britain's bankers. Apparently turning into social pariahs after the financial crisis has taken its toll on their mental health. Demand for insurance to protect revenues against the cost of paying staff who are too stressed to work has surged, according to data from financial services group Willis [...]
European bank share prices bounce – but report warns negative rates could make the sector’s woes even worse February 15, 2016 European banks looked more positive today, as markets continued Friday's rally. In the UK, HSBC was up 0.76 per cent to 443.75p, while Barclays was up 2.5 per cent to 161p. Lloyds was up 1.5 per cent to 59.39p, while Royal Bank of Scotland group rose 1.7 per cent to 244.3p. That came after HSBC confirmed [...]
Sir John Vickers warns Bank of England “too big to fail” bank buffers are not enough February 14, 2016 New requirements for banks to hold enough capital to prevent them from going under in the event of another financial crisis have been questioned by Sir John Vickers. In a stark warning Vickers, the author of 2011's Independent Commission on Banking (ICB) report in the wake of the financial crisis and subsequent bailouts, has called the wisdom of the BoE's [...]
FTSE 100 index closes higher as price of oil rebounds and share prices at miners and banks including HSBC, RBS, Lloyds and Barclays rise and Rolls-Royce’s share price rockets February 12, 2016 Having taken a pounding on Thursday, the FTSE 100 index closed sharply higher today as the price of oil rebounded. The UK's blue chip index closed 3.08 per cent higher at 5,707 points, led higher by Rolls-Royce, banks and miners. The price of oil rose more than three per cent to nudge over $31 a barrel this morning, after an Opec minister [...]
City Moves for 12 February 2016 | Who’s switching jobs February 12, 2016 JOHNS&CO High-end estate agents JOHNS&CO has appointed two new directors. Clynton Nel and Chris Boswell both join from Hamptons International. Clynton, who has joined the team as residential director, will be based in the firm’s new Marsh Wall office in Canary Wharf. He has over 13 years’ experience in the property industry, specialising in renewals [...]