Our relationship with China has been overhauled, but it’s still a crucial one for the City April 27, 2023 Next Monday, Virgin Atlantic planes between London Heathrow and Shanghai will resume. This reopens many symbolic and actual possibilities for our relationship with China, writes Juha Jarvinen
First Republic shares continue to fall as investors fear collapse April 26, 2023 First Republic’s shares fell nearly 40 per cent on Wednesday before recovering slightly as speculation grows that the ailing lender will have to be rescued. At the time of writing, its share price was down 21 per cent. Yesterday, the San Francisco-based bank’s share price closed over 30 per cent lower after it revealed on [...]
BP gears up for AGM where energy giant will face wrath of pension funds April 26, 2023 BP has defended its decision not to permit shareholders to vote on its watered down climate targets ahead of a crunch AGM tomorrow.
Sir Win Bischoff ‘was a giant of our industry’ JP Morgan chief Jamie Dimon says after City grandee dies aged 81 April 26, 2023 Heartfelt tributes have been paid to City grandee Sir Win Bischoff who has died at the age of 81 following a short illness. The German-born banking boss who had top roles at Schroders, chair of Lloyds Banking Group and Citigroup, as well as JP Morgan, enjoyed a 50-year career in both the City and Wall [...]
GSK brings in zosta lot more cash as drugs giant’s turnover boosted by shingles vaccine and HIV medicines April 26, 2023 Drugs giant GSK has posted better-than-forecast revenues for the first quarter thanks to strong sales of its shingles vaccine and HIV medicines. The FTSE 100 group saw earnings fall 15 per cent on a constant currency basis to £2.1bn in the first quarter as revenues dropped eight per cent to £7bn after sales of its Covid-19 treatment [...]
Amazon asked to formally recognise GMB union at strike-hit Coventry site April 26, 2023 Online giant Amazon is being asked to formally recognise a trade union at one of its sites which has been hit by strikes. The GMB says it would be the first time workers at the company would have formal union recognition for collective bargaining over pay and conditions. The move follows strikes by hundreds of GMB members [...]
CBI crisis: City of London Corporation latest to quit over allegations of sexual misconduct April 26, 2023 The City of London Corporation has become the latest organisation to suspend its membership of the Confederation of British Industry (CBI) following allegations of sexual misconduct. The governing body, based in the Square Mile in London, strongly condemned the alleged culture of abuse at the business group. The CBI announced yesterday it had dismissed “a [...]
Standard Chartered profit rises 21 per cent but confirms “no contact” with suitor First Abu Dhabi Bank April 26, 2023 Standard Chartered beat expectations in the first quarter as rising interest rates once again boosted the bank but it confirmed there had been not contact with First Abu Dhabi Bank. The emerging markets-focused lender reported a pretax profit of $1.8bn, rising 25 per cent year on year and beating market expectations of a $1.4bn profit. [...]
Sunak arrived late to the business charm offensive and still can’t catch up April 26, 2023 Rishi Sunak spent Monday flirting with business leaders, but Keir Starmer and Rachel Reeves are still winning the battle to court corporates.
Analysis: UBS begins tricky task of integrating Credit Suisse April 25, 2023 While profit was down, analysts and investors were today far more concerned with how UBS will manage the integration of its long-time rival Credit Suisse.