Chinese economic crisis: China cuts rates as a pick-me-up after stock market crash August 26, 2015 Aftershocks from Monday’s chaos rippled through global markets yesterday, with shares bouncing back in parts of the west and China providing a shot in the arm for its battered trading floors and wavering economy. Following the worst worldwide stock market rout in years, the FTSE came out fighting and recorded its biggest one-day rise [...]
What’s next for Stephen Hester? August 25, 2015 WITH Zurich’s takeover of RSA looking increasingly likely, the question remains: What happens to Stephen Hester? Hester, the former boss of RBS, became chief executive of RSA in February 2014. Since then, he has led an ambitious turnaround plan for the ailing insurer, raising capital, reorganising the business and building investors’ trust – despite multiple [...]
Summer break inspires City slickers to switch careers for a job in the sun August 25, 2015 Two weeks in a tropical paradise is seemingly enough to tempt even the richest City slickers into packing it all in to become a surf instructor, as apparently over 50 per cent of UK workers seriously consider a career change immediately after the summer holidays. After returning from a summer break, one in two workers [...]
City Moves for 26 August 2015 | Who’s switching jobs August 25, 2015 Close Brothers Asset Management Nicholas Cliffe has been appointed investment director at the investment management firm. He joins from HSBC Global Asset Management, where he spent five years as a discretionary wealth manager. Ashurst The law firm has appointed Shaun Lascelles as a partner in its global private equity team. He joins from the London [...]
Wyndham Championship: Tiger’s still waiting for that title but looks to be out of the Woods August 25, 2015 He has a long wait now until his next tournament so it would be premature to say a long-awaited win was round the corner, but there are definite signs that Tiger Woods has arrested his decline and is on the up. The former world No1 fell short of a first title since 2013 at [...]
Fed policymaker Dennis Lockhart says US interest rates should be raised this year August 24, 2015 A senior Fed policymaker has called for US interest rates to be raised this year, despite the panic that has hit global markets over China's economy. Read more: Black Monday 2015: US stocks battered in biggest fall since 2011 Dennis Lockhart, President of the Federal Reserve Bank of Atlanta, said in a speech today [...]
Banking pay-outs: Forex rate-rigging scandal will be bigger than Libor August 24, 2015 The foreign exchange market is the largest financial market in the world, with transactions worth $5.4 trillion taking place every day. The revelation that banks colluded to attempt to manipulate the forex market over many years makes it likely that forex claims will cost the banks more in compensation, as well as regulatory fines, than [...]
Sand landmarks at St Paul’s Cathedral August 20, 2015 ENOUGH with the sand. Despite the sub-par summer, London has an obsession with beaches this year – now sand sculptures are being built at St Paul’s. A different world landmark is being chiselled each day, marking the launch of travel company Lonely Planet’s Ultimate Travellist guide. So far we’ve seen the pyramids of Egypt and [...]
City Moves for 20 August 2015 | Who’s switching jobs August 19, 2015 PwC The professional services firm has announced several appointments to its corporate finance deals team. Jon Shelley (pictured) becomes an equity partner. He joined as a graduate in 2002 and works out of its Aberdeen Centre of Excellence for Oil and Gas. Gareth Marshall and Charlotte Tracy, both from PwC’s Northern practice, become directors. Finally, [...]
Pocket money inflation exceeds parent wage hikes August 18, 2015 Bad news for working parents: the average allowance for UK youngsters is growing at an unprecedented rate, and it’s even outstripping their parents’ wage growth this year. Average pocket-money for eight-15 year olds has soared by 448 per cent in nearly 30 years, compared with just a 193 per cent increase in parents’ income over [...]