Prestigious brands suffer falling sales in China – but luxury hasn’t lost its lustre just yet November 19, 2015 Fom Hermes handbags and Tiffany jewellery, to Moet champagne and Hennessy cognac, luxury companies have had a storming run on the stock markets since the turn of the millennium. Alongside high-end brands with very exclusive products, the luxury sector also includes names considered commonplace in the West, such as Nike, L’Oreal and Swatch – which [...]
Alarm bells sound for global growth: What does it mean for investors? November 19, 2015 The state of the world economy is spooking analysts. In October, the IMF downgraded its global growth forecast for 2015 to 3.1 per cent, from the 3.3 per cent it predicted in July. Last week, the OECD added to the gloom, trimming its 2015 forecast for world output growth to 2.9 per cent on the [...]
Fintech Lookahead 2016: The disruptors you should be looking out for November 19, 2015 What can we expect to see from the fintech industry over the coming year? And what kinds of companies are leading the charge? In its 2015 Global Banking Annual Review, McKinsey said that “banks are under attack from new technology companies and others seeking to poach their customers. To date, banks’ losses to attackers have [...]
FTSE 100 sees third consecutive rise as miners surge – London Report November 19, 2015 Tourism-related stocks came under pressure yesterday on concerns about international security after last week’s attacks in Paris, though Britain’s top share index got support from gains in commodity shares. The blue chip FTSE 100 index was up 10.21 points, or 0.2 per cent, to 6,278.97 points by the close, buoyed in late trade by a [...]
Capgemini: The finance industry can’t afford to ignore bitcoin technology blockchain November 18, 2015 Blockchain technology is winning new friends by the day, with computer consultancy Capgemini announcing in a fresh report that financial services can no longer “afford to ignore” the distributed ledger technology that underpins bitcoin. Calling blockchain a “fundamental” shift for the finance industry, the report suggests that distributed ledgers will both slash costs and be [...]
Barclays investors unfazed as bank slapped with $150m forex fine by New York State Department of Financial Services November 18, 2015 Barclays has just been slapped with an additional $150m (£98m) fine for its manipulation of the Forex markets by the New York State Department of Financial Services. The British bank has also agreed to "terminate" its global head of electronic fixed income, currencies and commodities as part of the settlement. The fine owes specifically to misconduct on [...]
Best of the Brokers for 18 November 2015 November 18, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com STANDARD CHARTERED Jefferies believes the $17bn revenues implied in Standard Chartered’s 2018 returns on an equity target of eight per cent will be “tough to achieve”, given the ongoing pressure at the bank. Five per cent returns would be more achievable in 2018 [...]
Barclays faces new £66m forex fine November 17, 2015 Barclays is facing another $100m forex fine, according to reports in the Financial Times, as analysts suggest more litigation costs are yet to come. Sources have told the FT that Barclays is set to have to pay at least $100m in a penalty imposed by the New York Department of Financial Services for the forex [...]
Where can I use Apple Pay in the UK? The A-Z of shops, restaurants and apps which will accept mobile payment with iPhone 6 and 6 Plus November 17, 2015 Apple launched its mobile payment service, Apple Pay, in the UK in its first mobile payment move beyond the US, capitalising on the boom in mobile and contactless payments among consumers. iPhone 6 and 6 Plus users can now pay with just the tap of a smartphone, or Apple Watch, across the high street and [...]
Where can I use Apple Pay? Tesco Bank and TSB customers can now use contactless mobile payment with iPhones 6, 6 Plus, 6s, 6s Plus and Apple Watch November 17, 2015 The roll out of Apple Pay continues, with UK banks TSB and Tesco Bank now supporting the contactless payment method which can be used with iPhone and Apple Watches. They bring the total number of banks to jump on board with Apple Pay to thirteen after it launched in July with most of the major banks involved. Barclays is [...]