BARCAP WINS BRAGGING RIGHTS IN A SQUARE MILE RELAY VICTORY September 9, 2010 TO THE heart of London’s financial community last night for one of the most eagerly-anticipated competitive moments of the year – the annual Bloomberg Square Mile Relay. No less than 100 teams of ten runners thronged the streets to take part in the relay, after months of boot camp-style training regimes to win bragging rights [...]
Banks jump on Basel III talk as FTSE hits four-month high September 9, 2010 BRITAIN’S top share index rose sharply yesterday to post a four-month closing high, as US weekly jobless claims fell more than expected and further eased concerns of the United States falling back into recession. Economy-sensitive banks were among the top gainers, up 2.3 per cent, also aided by expectations that the new Basel III capital [...]
Don’t fritter away your cash on gratuitous advice fees September 9, 2010 MANY a City worker spends her hours turning over millions for institutional or super-rich private clients as a matter of course. But when it comes to managing one’s personal wealth, the right strategy can seem far less clear. The perceived security of an independent financial advisor (IFA) can seem appealing, but the fees of the [...]
PERSONAL FINANCE NEWS September 9, 2010 RETIREMENT ADVICE MOST SOUGHT Almost half of all consumers seeking independent financial advice last month sought assistance with retirement planning, the professional advice website unbiased.co.uk said this week. Retirement planning has remained on an upward trend since May this year. Consumers are also increasingly looking for specialist guidance on investment and savings. Karen Barrett, chief [...]
Q&A September 9, 2010 Q.I have a business idea. Do I need market research? A.Ideas are great but good businesses are built on finding a niche – and banks will expect to see why your idea is viable. Travers Clarke-Walker, product and marketing director for Barclays Business, says: “doing market research is a good way for a business to [...]
Barclays dismisses bank break-up threat September 8, 2010 BARCLAYS executives have privately dismissed the idea that UK banks will be forced to break up their retail and investment banking operations, even though the government’s independent banking commission still has a year left to deliberate its options. Those close to the bank said yesterday that Barclays would not have appointed its investment banking chief [...]
BP and energy peers propel the FTSE while banks drag September 8, 2010 EENERGY stocks led by BP pushed Britain’s top shares higher yesterday, outpacing falls in banks that were weighed down by European recovery concerns. The FTSE 100 closed up 21.92 points, or 0.4 per cent, at 5,429.74, after breaking a seven-session winning streak to close down 0.6 per cent on Tuesday at 5,407.82. Meanwhile the FTSE [...]
RETAIL BROKER OF THE YEAR | THE SHORTLIST September 8, 2010 WITHOUT brokers like the ones on our list, money would sit in bank accounts gathering dust. They are the soul of the UK’s investment strategy. At the moment, when people are looking for stability, they are more vital than ever. Innovative, forward-looking and offering great personal service, these five are stars. Don’t miss the City [...]
Cable says Diamond appointment shows risks in banking sector September 8, 2010 Business minister Vince Cable said Bob Diamond’s rise to the top post at Barclays bank highlights the task the government faces in trying to make the banking sector safer. “We are worried about this combination of the casinos and the traditional banking,” Cable, a Liberal Democrat in the Conservative-led coalition administration, told BBC radio. Cable [...]
Exodus fears as banks reshuffle September 7, 2010 A SHAKE-UP at the helm of two of the UK’s largest banks is fuelling fears that the country could lose its top banking institutions overseas due to an over-zealous approach to regulation of the industry. Barclays yesterday shocked the markets by appointing Barclays Capital boss Bob Diamond to run the business. Current chief executive John [...]