Donald’s views on Donald: Tusk hits back at Trump’s remarks on the EU January 31, 2017 Donald Tusk has today slammed the "worrying declarations" about the EU made by new US President Donald Trump. "For the first time in our history, in an increasingly multipolar external world, so many are becoming openly anti-European, or Eurosceptic at best," read a letter from the president of the European Council to EU member state [...]
Deutsche Bank settles New York probe with $425m fine January 31, 2017 Shares in Deutsche Bank rose after it agreed to a $425m (£340m) fine to New York's banking regulator over a trading scheme that moved $10bn out of Russia between 2011 and 2015. The bank's shares rose 2.2 per cent to €19.02 in late morning trading. The "mirror trading" scheme allowed clients to buy stocks in Moscow in [...]
FCA fines Deutsche Bank £163m for serious anti-money laundering controls failings January 31, 2017 The Financial Conduct Authority (FCA) has slapped Deutsche Bank with a £163m fine over "serious anti-money laundering controls failings". This is the largest financial penalty relating to money laundering that the regulator, or its predecessor the FSA, has ever imposed. The City watchdog's fine comes after the German lender agreed to a $425m (£340m) settlement [...]
NatWest backtracks on plans to freeze UK account of Russian state broadcaster RT January 30, 2017 NatWest has reversed its decision to freeze the accounts of Russian state broadcaster RT. RT, formerly known as Russia Today, revealed a letter from NatWest announcing the freeze in October, with the broadcaster’s editor-in-chief condemning the move as an attack on freedom of speech. RT said NatWest announced plans to close the UK accounts of the [...]
Enter The Dragon: Why China is snapping up British assets January 30, 2017 What do Heathrow, Thames Water, black cabs, Harvey Nichols and Rio Tinto have in common? They’re all part-owned by Chinese companies. “Britain holds a number of attractions for Chinese investors,” says Simon Bevan, head of the China Britain services group at Grant Thornton UK. “As a country, our language, business culture, rule of law and [...]
Putin isn’t dangerous because Russia is strong – but because it’s so weak January 30, 2017 “Some people without brains do an awful lot of talking.” – L Frank Baum, The Wizard of Oz As a child, I remember being fascinated by the populist allegory The Wizard of Oz. My favourite part of the story – sure to cause me to burst out laughing even when I knew what was coming [...]
Fabulous Brexit, Chinese implosion: The feasible scenarios markets are ignoring January 27, 2017 The exquisite unpredictability of markets was on full parade in 2016, and investors are still breathless. Very few believed populist anger would lead to a Brexit or a President Trump, or that a crashing oil market would be rescued by a deal underpinned by Saudi altruism towards Iran. Indeed, markets are replete with occurrences which [...]
The Doomsday Clock is ticking on world’s nuclear apocalypse countdown as Donald Trump begins his reign as US President January 26, 2017 Time is ticking away for the world’s effort to avoid an apocalyptic catastrophe as Donald Trump takes the US Presidency, according to a group of scientists. The hand on the Doomsday Clock, a symbol of how close the world is to meltdown, has been moved 30 seconds closer to midnight. The time now is the [...]
Polymetal shares slide on rising costs in the year ahead January 26, 2017 Shares in Polymetal slid more than six per cent following news that production was broadly in line with targets but costs will go up in the year ahead. Polymetal, which has mines in Russia, Kazakhstan and Armenia, said it delivered a "strong performance" in the fourth quarter of 2016, producing 375,000 ounces of gold equivalent, a 21 per cent increase, bringing total production for the year to [...]
City Moves for 26 January 2017 – who’s switching jobs? January 26, 2017 Today's City Moves cover a challenger bank, one of the best-known social media management platforms and a law firm. Take a look at these movers and shakers: Hampshire Trust Bank Chris Forsyth has been appointed as chief operating officer at Hampshire Trust Bank. In his executive role at the specialist challenger bank, which focuses on [...]