Blockchain and mobile payments are sending banks’ spend on payment tech soaring in 2016 December 15, 2015 Blockchain and mobile payments are sending payment tech spend soaring next year, new research has found. Globally, some 61 per cent of banks expect to increase their payment technology expenditure next year, according to a report from tech firm Ovum. This is a significant rise on 2015, when 52 per cent hiked their spending in [...]
From Mario Draghi on markets to Yanis Varoufakis on creditors: This is 2015 in quotes December 14, 2015 It’s been an action packed year – for better or worse. We’ve had a General Election, watched Greece come close to exiting the Eurozone, witnessed a Chinese economic slowdown and near financial crash- and the year isn’t even over. Here's what the world's good and great had to say while 2015 was happening… Sean Rad [...]
Best of the Brokers for 10 December 2015 December 10, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com ROLLS-ROYCE Analysts at Jefferies described the profit headwind of £100m to £150m in wide-body jet engines announced by the engineering giant as “a worrying development”. Around £50m to £80m of that related to the large engine aftermarket. However, they said the announcement did [...]
Eurozone economy fails to get a boost from cheaper euro as growth is confirmed at 0.3 per cent December 8, 2015 The Eurozone economy failed to be boosted by a cheap euro in the three months to September, as new figures showed the growth of exports falling. Total economic growth came in at 0.3 per cent, with export growth slowing to 0.2 per cent in the period, compared with 1.6 per cent over the three months to June, according [...]
Barclays online banking services crashed again December 7, 2015 Barclays online banking services crashed today, leaving the bank’s customers unable to access their mobile and online accounts for the second time in weeks. Around midday, Barclays customers complained on Twitter that they were locked out of their banking services with the bank, unable to make payments or transfer money. This is the latest in [...]
Dame Colette Bowe on her plans for the Banking Standards Board December 7, 2015 Sitting in a small office around the corner from the Bank of England, former Ofcom chair Dame Colette Bowe says that her new job barely resembles her earlier days as a regulator. “We’re very different from being a regulator,” Bowe tells City A.M. “Regulators have statutory duties, as well as statutory powers. Regulators can say: [...]
FTSE 100 hoping for festive cheer to follow European Central Bank’s Mario Draghi – London Report December 6, 2015 Following widespread market disappointment last week after the European Central Bank came in at below expectations with its interest rates and monetary easing policy, this week the big macro-economic numbers to look out for are coming from China We’ll get the country’s trade balance and then consumer price inflation figures tomorrow. Back here in Britain [...]
Funding crisis puts 1,700 jobs at risk over Christmas at printer Polestar December 6, 2015 An emergency financial review at printer Polestar has reportedly found the firm could run out of money by Christmas. According to a Deloitte report seen by the Sunday Times accountants at Deloitte have warned the printer, which produces the Radio Times, Private Eye and Top Gear, will need to take on additional immediate funding. It’s being [...]
Bank of England to keep interest rates at record lows this Thursday as more economists say rates won’t go up next year December 6, 2015 The Bank of England is widely expected with keep its base rate on hold rate this week, with more economists viewing 2017 as the more plausible option for the first interest rate hike since the financial crisis. The Bank’s monetary policy committee voted eight to one last month to keep the rate which it deals with [...]
Merry Christmas: Barclays could cut another 20 per cent of investment bank jobs December 4, 2015 Barclays is planning to cut another 20 per cent of jobs at its investment bank, it has been reported. The bank has already announced 7,000 job cuts at its investment bank, but these are thought to be on top of that. Last year it slashed 2,500 jobs, and expects to make a similar number of [...]