Bank chiefs warn of more pain to come as cost cutting expected to be ramped up February 17, 2016 Britain's bank bosses have warned that cost cutting measures will have to be ramped up as stunted revenues and low interest rates continue to take their toll on the sector. A survey of UK bank chiefs by PwC found that almost 70 per cent said they expect to implement a cost cutting scheme in the next [...]
Standard Chartered share price: Investec analysts downgrade bank stock after just two days following share price rally February 16, 2016 Investec has downgraded Standard Chartered to a “hold” rating just two days after upgrading the lender to a buy, after shares in the Asia-facing bank rallied by more than 17 per cent in just two working days. Standard Chartered has struggled since the start of the year, with shares tumbling by over 20 per cent. [...]
Banking experts hit back at claims from Sir John Vickers that the Bank of England is not forcing lenders to hold enough money in capital buffers February 15, 2016 Banking experts have questioned Sir John Vickers’s claims that the Bank of England is not doing enough to shore up the British banking industry, saying more capital requirements for lenders would hurt the real economy. Vickers, who led the Independent Commission on Banking (ICB), told the BBC this morning that the Bank “might want to [...]
Greed is not so good: Britain’s bankers are more stressed than ever February 15, 2016 It might be time to feel sorry for Britain's bankers. Apparently turning into social pariahs after the financial crisis has taken its toll on their mental health. Demand for insurance to protect revenues against the cost of paying staff who are too stressed to work has surged, according to data from financial services group Willis [...]
People, planet and profit: How to build sustainability into your business February 1, 2016 Every business wants to be sustainable – this is, by definition, about being set up to succeed over the long term. For a business to be truly sustainable, it is important to balance three priorities: people, planet and profit. We all rely on people and natural resources, and we’re looking to achieve a profit. If [...]
City Moves for 27 January 2016 | Who’s switching jobs January 27, 2016 Indigo Planning Indigo Planning has appointed of Julie White as associate. Julie joins the consultancy firm with more than 15 years’ national and regional industry experience. Much of Julie’s work has focused on delivering residential and mixed-use proposals for private developers, as well as major retail projects for a national supermarket operator. She also has experience [...]
Q&A: Enotria’s CEO on acquiring Coe Vintners January 25, 2016 Troy Christensen, chief executive of Enotria & Coe, and Gary Edwards, growth and acquisition finance at Investec, explain the background, challenges, and motivation behind premium wine supplier Enotria’s acquisition of Coe Vintners. Why did Enotria decide to acquire Coe Vintners? Troy Christensen: Enotria was founded in the 1970s with the intention of bringing the best Italian [...]
SCS shares soar as sofa chain hikes full-year profit expectations January 19, 2016 Sofa and floorings chain ScS’s share price has soared by almost 17 per cent after the company said it expects full-year profits to beat City forecasts. In an unscheduled update the retailer, which floated last year, said trading over the key Christmas and January sales period was strong within both its 97 ScS stores and 30 [...]
Metro Bank IPO could be hit by Clydesdale flop January 18, 2016 The cut price flotation of Clydesdale Bank could deal a blow to fellow challenger Metro Bank’s IPO plans, experts have warned. National Australia Bank revealed Clydesdale would be valued £500m below expectations today, setting a price range for its London listed shares at 175p to 235p, valuing the bank between £1.54bn and £2.07bn. The lowest end of [...]
Standard Chartered garners a rare analyst “buy” rating January 14, 2016 Analysts at Berenberg have upgraded their recommendation on troubled emerging markets focused bank Standard Chartered to “buy”, due to a strategy switch to return and risk. Standard Chartered has previously focused on growth alongside fast growing emerging markets. General analyst consensus has been moving against Standard Chartered in recent months, with the latest survey of [...]