Barclays: Robotics is the future for Britain’s struggling manufacturers November 30, 2015 The UK's struggling manufacturing sector has bags of potential, according to a new report from a major British lender. Barclays has said today it believes that further automation and utilisation of robotics could add as much as £60.5bn to the sector, and the economy as a whole, over the next 10 years. It would take [...]
Mario Draghi to boost Eurozone asset purchases November 30, 2015 The Eurozone is geared up to receive a policy boost this week, with the majority of analysts expecting the European Central Bank (ECB) to ramp up its €1.1 trillion (£780bn) asset purchase programme this Thursday. “President Draghi and board members have been unequivocally dovish, indicating that the ECB was working on different options to ease policy further, [...]
Bankers bonuses under threat as industry faces cut backs November 29, 2015 Some of the biggest banks in Europe and the US are cutting back on bonuses after a decline in yearly profits. Credit Suisse is rumored to be considering slashing its bonus pool by up to 60 per cent, while Deutsche Bank is expected to reduce its payouts by 30 per cent. Barclays is reportedly looking [...]
Bank stress test results: Britain’s seven biggest lenders including Standard Chartered, HSBC, Lloyds and Barclays, under pressure from regulators November 29, 2015 Britain's biggest banks are bracing for announcements from the Bank of England Tuesday which may force them to cut dividends in order to satisfy regulators’ capital requirements. Seven leading lenders – HSBC, Barclays, Lloyds Banking Group, Standard Chartered, Royal Bank of Scotland, Santander and Nationwide – were subject to the Bank of England’s latest round [...]
The FTSE’s best two day run since October – London Report November 27, 2015 THE FTSE 100 closed higher yesterday evening as miners made gains, despite BHP Billiton sliding. The UK’s top blue-chip index closed 0.88 per cent up, at 6,393 points, following the 0.96 per cent gain on Wednesday on the back of the chancellor’s Autumn Statement that sent housebuilders’ stocks higher. Glencore led the pack, closing 5.85 per [...]
At the close: FTSE 100 enjoys best two back-to-back days since October as it closes higher as miners make gains November 26, 2015 The FTSE 100 closed higher today as miners made gains, despite BHP Billiton sliding. The UK's top blue-chip index closed 0.88 per cent up, at 6,393 points, following the 0.96 per cent gain yesterday on the back of the chancellor's budget plans that sent housebuilders' stocks higher. Glencore led the pack, closing 5.85 per cent up at 95.88p per [...]
Class action suit being brought against Barclays, UBS, Royal Bank of Scotland and others for conspiring to limit competition November 26, 2015 Big-name banks including Goldman Sachs, Barclays, UBS and the Royal Bank of Scotland have been accused of conspiring to limit competition by a pension fund in the US. The class action lawsuit filed yesterday says that the banks, which also include Bank of America Merrill Lynch, JPMorgan Chase, Citigroup, Credit Suisse Group, BNP Paribas and [...]
Class action suit brought against Barclays, BNP Paribas and eight more November 26, 2015 Big-name banks including Goldman Sachs, Barclays, UBS and the Royal Bank of Scotland have been accused of conspiring to limit competition by a pension fund in the US. The class action lawsuit filed yesterday says that the banks, which also include Bank of America Merrill Lynch, JPMorgan Chase, Citigroup, Credit Suisse Group, BNP Paribas and [...]
Barclays fined £72m by Financial Conduct Authority for failing to undertake proper financial crime checks – but share price is up November 26, 2015 The Financial Conduct Authority (FCA) today announced it was fining Barclays £72m for "failing to minimise the risk it may have been used to facilitate financial crime." In 2011 and 2012 Barclays oversaw a £1.88bn transaction between a number of "politically exposed" ultra-high net worth individuals, who are seen to be especially vulnerable to the risk of [...]
City Moves for 26 November 2015 | Who’s switching jobs November 25, 2015 EDENTREE INVESTMENT MANAGEMENT David Katimbo-Mugwanya has been appointed fixed income fund manager at the investment management firm. He joins from Epworth Investment Management, where he managed both institutional client and charity portfolios. WESLEYAN The mutual financial services provider has appointed Ahmed Farooq as chief financial officer. He joined Wesleyan in 2010, and was previously managing [...]