After the Nvidelity comes the Huangover. Jensen Huang joins long list who confused boardroom and bedroom
The UK’s biggest banks are bracing themselves for another £2bn on their PPI bill October 18, 2016 Britain's largest banks are set to add billions to their collective bill for payment protection insurance (PPI) mis-selling in the next two weeks. According to Sky News, executives at Lloyds Banking Group, Royal Bank of Scotland, HSBC and Barclays are in the process of finalising top-up provisions, amounting to around £2bn in total – due to be [...]
City Moves for 13 October 2016 | Who’s switching jobs October 13, 2016 GLAS GLAS, the leading independent provider of finance administration services, has appointed Joe Knight to spearhead the expansion of the firm’s direct lending platform. Joe will have responsibility for business development and developing strategic relationships with GLAS’ existing direct lending client base. The move comes as funds increasingly replace banks in the lower to middle [...]
FCA complaints are still dominated by PPI mis-selling October 6, 2016 The number of complaints lodged against financial services firms nudged down in the first six months of 2016 according to statistics released by the Financial Conduct Authority (FCA). The total number of complaints dropped by 2.6 per cent compared with the final six months of 2015. Barclays topped the list and received over a quarter of a million objections. Top five [...]
“Forces in the market want to weaken us”: John Cryan seeks to reassure Deutsche Bank staff September 30, 2016 Deutsche Bank shares edged back over the €10 mark in mid-morning trading after chief executive sought to reassure staff in a company-wide memo. In the document, Cryan suggested the bank was strong and hit out at "speculators" for causing wild swings in the company's share price. "Our bank has become the object of heavy speculation – renewed rumours [...]
The great Deutsche Bank sale begins as bailout rumours continue to swirl September 28, 2016 Deutsche Bank sold one of its less core businesses today, prompting speculation that more asset sales are on the cards at the troubled German lender as it faces the prospect of a multi-billion pound US fine. The bank agreed to sell British insurance business Abbey Life to Phoenix, which will bring in nearly £1bn in capital. [...]
Now Credit Suisse chief Tidjane Thiam sounds alarm on European banks September 28, 2016 Credit Suisse boss Tidjane Thiam has today become the latest in a list of names to warn Europe's banks are not in a healthy state. His comments come as Deutsche Bank's share price is swinging widely as rumours circulate as to whether the German government would be prepared to bail out the lender. The German giant, which [...]
Gender is secondary at Walmsley’s GSK September 23, 2016 If the patient isn't responding, change the medicine: that's been the crude, but long-running, summary of some investors' prescription for Britain's biggest pharmaceuticals group. So for GlaxoSmithKline (GSK) investors, the least important aspect of Emma Walmsley's appointment as its next chief executive is her gender. That doesn't make it unimportant, of course: as the global [...]
What should Hammond do to ensure steady management of the public finances? Not very much. September 20, 2016 Quietly, and without fuss, the Treasury has revealed that the first budget of Theresa May’s government will be unveiled on 23rd November. The confirmation of the Autumn Statement date was made just under two weeks ago – the chances are, you didn’t even notice. The memo was a passive and reserved show of defiance. Earlier [...]
Neil Woodford-backed P2P lender RateSetter reports loss as it seeks sustainable future September 19, 2016 Peer-to-peer (P2P) lender RateSetter, which is backed by fund manager Neil Woodford, has reported a revenue rise of nearly 50 per cent to £18.5m in its 2015/16 accounts. The figures The company said the results, which reported a £4.9m pre-tax loss compared with a profit of £476,000 the year before, are in line with expectations set [...]
London backed to retain world-beating status as city for opportunity after Brexit September 7, 2016 London has retained its status as the world’s greatest city for opportunity, and will hold on to the top spot if it seizes the chances presented by Brexit, according to an in-depth study published this morning. For the second year running, London beat the likes of New York, Beijing, Singapore and Tokyo, to top a global [...]