HSBC signs global deal with City fintech startup Bud December 11, 2019 HSBC is to ramp up its efforts on Open Banking, following a global partnership agreement signed today with London fintech startup Bud. The banking giant took a significant stake in Bud earlier this year, after the startup helped HSBC launch mobile banking app Artha through its First Direct challenger brand. The deal will initially see [...]
FTSE 100 falls with European investors nervous over trade tensions December 10, 2019 The FTSE 100 has shed one per cent on a bad day for European shares ahead of a major tariff deadline that could exacerbate trade tensions between the US and China. Germany’s Dax index fell 1.46 per cent, France’s CAC 40 dropped 0.89 per cent, and the pan-European Eurostoxx 600 fell 1.07 per cent. Read [...]
South African Airways placed into bankruptcy protection to avoid ‘uncontrolled implosion’ December 5, 2019 South Africa’s state-owned airline has been placed into bankruptcy protection, as the nation tries to stop it falling into liquidation. South African Airways (SAA), which has suffered from years of state corruption, has entered the workout process, an alternative to bankruptcy. Read more: South African Airways: State-owned carrier in limbo It is the first time [...]
City Moves for 5 December – Who’s switching jobs at Rivercrowm, Cashflows and Cromwell? December 5, 2019 Today’s City Moves includes Rivercrowm, Cashflows and Cromwell Rivercrown Rivercrown has appointed Charles Archer to lead its debt investment management team, with responsibility for originating, underwriting, execution and loan asset management of real estate debt opportunities in the UK and Europe. Charles, who joins as a director, will oversee the European Credit Opportunities Vehicle — [...]
Global growth to pick up next year despite US and China slowdowns, says report December 4, 2019 Global economic growth is set to pick up in 2020 despite the world’s two biggest economies slowing, according to asset manager Investec. The world economy will expand 3.3 per cent in 2020, Investec said, picking up from a post-crisis low of 2.9 per cent growth this year. Read more: FTSE 100 slumps as Trump suggests [...]
South African Airways: State-owned carrier in limbo as bailout doubts persist December 4, 2019 Time is running out for South African Airways (SAA), as the embattled carrier hopes for a bailout from South Africa’s government. The state-owned airline paid only half of staff salaries last month, and may have to file for liquidation in the near future if it cannot secure R2bn (£100m). Read more: Virgin Atlantic in fresh [...]
City Moves for 3 December – Who’s switching jobs at JP Morgan, New City Initiative and Ergomed? December 3, 2019 Today’s City Moves includes JP Morgan, New City Initiative and Ergomed JP Morgan JP Morgan Asset Management (JPMAM) has appointed Paul Kennedy as head of strategy and portfolio manager of the firm’s European real estate branch. Paul will lead the European real estate strategy team and contribute market views to JPMAM’s real estate investment process. He [...]
UN climate change summit opens in Madrid amid last chance warnings December 2, 2019 The UN Climate Change conference is underway in Madrid, as governments come together to take the next steps in the climate change process. Against a backdrop of a year of especially severe weather, the two weeks of talks offer delegates the chance to resolve outstanding issues from the Paris accord, such as rules for carbon [...]
Big Four client numbers fall but FTSE 100 stranglehold remains December 2, 2019 The number of clients audited by the Big Four accountancy firms has fallen but they retain an iron grip on the FTSE 100, figures published today show. Figures from Adviser Rankings for the quarter to 6 November showed the number of stock market clients audited by PwC (353), KPMG (312) and Deloitte (225) all fell [...]
Brewin Dolphin posts ‘resilient’ results as expansion plan hits profit November 27, 2019 Brewin Dolphin has boosted its funds under management but took a hit to profit for the full year as it pursues a rapid expansion plan. The asset manager increased its total funds more than five per cent to £45bn in the year to the end of September, including inflows of £1.4bn. Total income also rose [...]