BBA dismisses new crackdown on bankers’ bonuses as “counterintuitive” October 15, 2014 The British Bankers Association (BBA) has dismissed moves by a European body to curb the use of fixed allowances as an alternative to traditional bonuses as “counterintuitive”. Today, banks were hit with the news that more stringent checks could be introduced to the pay of senior staff after an investigation found that several institutions [...]
EU urged to boost controls on bankers’ pay as investigation finds 39 institutions “circumventing” new rules October 15, 2014 European regulators have been urged to bring in more stringent checks on bankers' pay after an investigation suggested a number of institutions were "circumventing" new European Union rules. The European Banking Authority (EBA) has called for the EU and the European Commission to introduce supervisors to ensure banks keep within the EU Capital Requirements Directive. [...]
Coca-Cola looks to put fizz into Boris Bikes October 14, 2014 Coca-Cola could replace Barclays as the main sponsor of London’s Boris Bikes in a deal at an annual cost of at least £5.5m, according to Sky News. A Coca-Cola spokesperson said: “We are always looking at partnerships which are a good fit for our brands.”
Profit warning puts thorn in Mulberry October 14, 2014 MULBERRY shares were looking the worse for wear yesterday after the troubled luxury leather goods group issued yet another profit warning. The English luxury brand has been attempting to turn itself around following an ill-fated attempt to move the brand upmarket under previous chief executive Bruno Guillon. But in a statement yesterday, Mulberry warned that [...]
City Moves for 15 October 2014 | Who’s switching jobs October 14, 2014 Quinn Emanuel Boris Bronfentrinker has been appointed partner in the law firm’s London office. He joins from claimant competition litigation firm Hausfeld & Co, where he was a partner. Bronfentrinker has also previously worked in Freshfield Bruckhaus Deringer’s competition practice. Capital Generation Partners Cliff Wood has been appointed head of reporting and investment analytics at [...]
Enthusiastic UK shoppers boost growth hopes as spending on cards increases October 13, 2014 Shoppers are splashing out more in almost every area of spending, Barclaycard numbers showed yesterday, indicating there is more life yet in the economic recovery. Overall, spending on cards last month was 4.8 per cent higher than it was in September last year – the fastest annual increase since May 2013. Spending in restaurants jumped [...]
City Moves for 13 October 2014 | Who’s switching jobs October 12, 2014 BNP Paribas Investment Partners Susan Gostick has been appointed head of pension fund segment at the asset management arm of BNP Paribas. She has over 20 years’ experience in investment and pensions, and was previously head of institutional relationship management at Newton Investment Management. Gostick has also held roles at Lazard Asset Management, Merrill Lynch [...]
Consumers win as UK inflation continues to fall – London Report October 12, 2014 Consumers are winning out as low petrol prices and the continuing supermarket price war drive inflation down. Data out tomorrow is expected to show consumer price inflation for September fell to a five-year low of 1.4 per cent – well below the Bank of England’s target rate of two per cent. However, weak earnings growth [...]
Exclusive: Barclays recruits staff to complement digital growth October 9, 2014 Barclays is hiring more staff to advise small businesses and exporters, in a change to its plan to automate every service possible, City A.M. has learned. Chief executive Antony Jenkins is pushing to use cutting-edge technology wherever possible to automate processes and cut down on the need to retain an enormous workforce. But the bank [...]
Tourists flocking to UK as 10m visitors make it a bumper year October 9, 2014 Tourism provided a welcome boost to the UK economy over the last year with more than 10m overseas visitors opting for a British holiday. The number of tourists visiting the UK was up six per cent for the year-to-date, according to figures released yesterday by the Office for National Statistics. Meanwhile, the beaches of Brighton [...]