Lloyds, HSBC, First Direct warn Apple Pay users: Storing other people’s fingerprints is like “giving out your pin” November 3, 2015 Store your spouse’s fingerprint on your phone? You could be in for a nasty surprise. UK banks are warning customers against the practice, announcing that if you wish to use Apple Pay, you must delete other people’s prints. Lloyds’ customers are warned in the bank’s terms and conditions: If Touch ID is available on your [...]
FTSE 100 index: Banks get some welcome relief from Visa cash – London Report November 3, 2015 The first trading day of November saw the FTSE 100 close flat as the news that Visa Europe is to be bought by US company Visa helped rally banking stocks. The FTSE 100 ended yesterday’s session flat, up just 0.01 per cent at 6,362 points. However, HSBC, which reported a jump in pre-tax profit to [...]
HSBC’s ringfence relief but HQ could still move November 2, 2015 Concerns that HSBC could lose control of its UK retail arm under ring-fencing rules have been “satisfactorily” dealt with according to the bank’s chief executive. New regulations to take effect in 2019 requiring banks to “ring-fence” their high street operations had caused the bank to worry it would have no say over the capital, dividends, [...]
At the close: FTSE 100 closes flat on first trading day in November November 2, 2015 The first trading day of November saw the FTSE 100 close flat as the news that Visa Europe is to be bought by Visa US helped rally banking stocks. The FTSE 100 ended Monday's session 0.01 per cent up at 6,362 points. However, HSBC, which reported a jump in pre-tax profit to $6.1bn (£3.95bn) for the third quarter, [...]
Visa Inc share price down as it agrees to buy former subsidiary Visa Europe for €21.2bn November 2, 2015 Visa Inc announced this morning it has reached a deal to buy its former subsidiary Visa Europe for as much as €21.2bn (£15bn). The consolidation of Visa Europe's 500 million card accounts, worth more than €1.5 trillion, will create a single global payments company. The upfront payment comprises of €11.5bn in cash and €5bn-worth of preferred stock (which pays fixed dividends, taking [...]
Boris Johnson announces plans to raise London’s Living Wage to £9.40 an hour November 2, 2015 London's Living Wage is set to rise again, after Boris Johnson and the Living Wage Foundation announced another round of hikes. In a speech this morning the Mayor of London said voluntary Living Wage will be raised to £9.40 an hour in the capital, from £9.15 an hour now. Meanwhile, the UK Living Wage will rise to £8.25 [...]
City Moves for 26 October 2015 | Who’s switching jobs October 25, 2015 KPMG Catherine Grum has been appointed head of the professional services firm’s family office. She joins from Salamanca Group, where she was head of the private office. Grum has also previously worked as head of wealth advisory, for Europe, the Middle East and Africa, at Barclays Wealth & Investment Management, and for the private client [...]
City Moves for 21 October 2015 | Who’s switching jobs October 20, 2015 RO REAL ESTATE The commercial property investment and development firm has appointed Nick Moore as senior investment manager. He joins from Lloyds, where he was director in its real estate division. Moore has 15 years’ experience in commercial real estate and has also held roles at PRUPIM, Warner Estates and DTZ. WILLIAM BLAIR Michael Collinson [...]
Prime Minister David Cameron appoints Alibaba’s Jack Ma to his Business Advisory Group October 19, 2015 Alibaba founder and executive chairman Jack Ma has been appointed to Prime Minister David Cameron's Business Advisory Group (BAG). Number 10 announced the appointment today, ahead of a four-day state visit by China's President Xi Jingping. Commenting on the appointment today, a Downing Street spokeswoman said: "This is about appointing someone who has real business [...]
Investor feel-good factor made a return in October – Lloyds Bank October 19, 2015 Investor confidence picked up in October, according to research from Lloyds Bank. There was an improvement in eight out of 10 asset classes, although safe havens gold and UK government bonds saw a surprise dip in sentiment despite having the strongest performances. Overall investor net sentiment rose by four percentage points, taking it to an average [...]