Interest rates could be about to get more interesting, with cut to 0.25 per cent widely expected next week July 31, 2016 Banks and savers alike will be bracing themselves for Thursday's Bank of England announcement, when it is largely expected interest rates will be chopped. The bank surprised many a few weeks ago when it opted to hold interest rates at its historically low 0.5 per cent level, where it has stuck since March 2009. Many [...]
RBS among worst performing European banks as stress test results are published July 30, 2016 Royal Bank of Scotland was the stand-out British performer in the European Banking Authority’s (EBA) stress test results. But not in a good way. The assessment of how European banks might perform in adverse conditions found RBS’s capital levels down 7.5 per cent, making it the third biggest faller of 51 lenders tested. Under the [...]
Leaving the EU only strengthens the case for expanding both Gatwick and Heathrow July 28, 2016 As MPs prepare to jet off on their summer holidays, there is one big decision that awaits their return: where to build a new runway in London and the South East. This is a decision that has now dragged on beyond all belief. When the Airports Commission published its final report over a year ago, we [...]
City Moves for 27 July 2016 | Who’s switching jobs July 27, 2016 Kingston Smith Kingston Smith has appointed its not-for-profit partner Anjali Kothari to its executive board. Anjali has been a partner at Kingston Smith since 2011, having joined as a manager in 2001. Well known as a specialist in the charity and education sectors, her client base includes charities, independent schools and academies. Among her various voluntary [...]
Barcelona move ahead of Real Madrid with record-breaking revenue July 26, 2016 Barcelona have become the first club to announce revenue figures worth over £500m after generating record-breaking turnover of €679m (£570m) in the 2015/16 season. The Catalan club, who won both La Liga and the Copa del Rey last season, believe the results keep the club on course of meeting its revenue target of €1bn by 2021. The [...]
Watchdogs need to learn new tricks: MPs slam regulators over handling of HBOS collapse July 26, 2016 MPs have today slammed the finance industry's watchdogs for their failings in handling the HBOS scandal. The report from the Treasury select committee criticised the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA), and, in particular, the FCA's predecessor – the Financial Services Authority (FSA) – for various shortcomings in conducting their review. In particular, the MPs highlighted the [...]
Arsenal ticket prices: KPMG says Emirates Stadium season tickets are the worst value for money in Europe July 23, 2016 Top Premier League teams are ripping off fans on ticket prices compared to elite European clubs, according to a new KPMG study which names Arsenal tickets as the worst value for money when compared with the wealth of the club. Analysis from the accountancy giant into the relationship between a club's valuation and their cheapest season [...]
Banking fraud is the biggest cyber crime in Britain July 21, 2016 Banking fraud is the biggest cyber crime in the UK, accounting for two in every five of the nearly six million online crime incidents recorded over the past year. There were 2.5m online crimes involving banking; and credit accounts, while one million involved other types of fraud such as online shopping, new figures reveal. There were a further two [...]
VCs held off on startup investments because of Brexit July 20, 2016 The figures are in: and they show that in the build up to the EU referendum, venture capital investors held off on putting their cash into startups. VC investment "plummeted" 40 per cent according to the latest report from CB Insights and KPMG. Some $2.8bn went into VC-backed firms in Europe, of which the UK grabs the biggest share, dipping below [...]
City Moves for 20 July 2016 | Who’s switching jobs July 20, 2016 Coople Coople, the on-demand staffing platform, has appointed Jacques de la Bouillerie as its new UK managing director. Jacques joins Coople with over 15 years’ extensive experience with business transformation and leadership in companies at various stages of development, ranging from very early stage through to fast growing to maturity. He was previously heading up [...]