Wall St rises, but fears grow over volatility – New York Report September 2, 2015 Wall Street shares jumped almost two per cent yesterday in the latest volatile session as investors weighed the impact of a stumbling Chinese economy and global market turmoil on the Federal Reserve’s impending decision about when to raise interest rates. The Dow Jones industrial average jumped 1.82 per cent to end at 16,351.31 points.The S&P [...]
Labour leadership race: Shadow business secretary Chuka Umunna urges unity after election, with 10 days to go until result September 2, 2015 No matter what the result of the Labour leadership race is, the party must show unity after the result of the vote, shadow business secretary Chuka Umunna has said. In a speech to think tank Policy Network, Umunna said: “I do not think we can simply dismiss out of hand those who hold critical views [...]
Carlyle makes £500m offer for software group September 2, 2015 INSURANCE technology firm Innovation Group has agreed to a £500m offer from Carlyle Group, and recommended that its shareholders vote in favour of the takeover. Shares in Innovation Group, which specialises in claims services, went up by 2.58 per cent following yesterday’s announcement. Carlyle-owned Axios Bidco has offered 40p per share for the firm, representing [...]
NHS orthodoxy is dying: Here’s how to put patients at the heart of healthcare September 1, 2015 Surveys often suffer from what is known as “social desirability bias”: when people sense that an opinion they hold, or a habit they engage in, is unfashionable, they are unlikely to be entirely honest about it in a survey. Instead, they may simply tell the interviewer what they think they are socially expected to [...]
JP Morgan Cazenove stays ahead of rival Bank of America Merrill Lynch in top broker battle August 31, 2015 JP Morgan Cazenove’s capture of Barclays’ coveted broking mandate has helped the investment bank stretch its lead at the top of the latest adviser rankings. The bank, which brokers giants like Vodafone and Standard Chartered, has 34 FTSE 100 clients, seven more than its nearest rival Bank of America Merrill Lynch, according to the [...]
August Bank Holiday 2015 blues for Barclays, RBS and NatWest staff as local branches stay open August 27, 2015 In these modern times of accessibility and 24-hour contact, is the Bank Holiday becoming part of Britain’s history more than a cultural event? Three lenders were excited to announce the desecration of the sacred so-called bank holiday weekend by opening branches across the country. While execs and chairs head off to their homes in the [...]
City Moves for 28 August 2015 | Who’s switching jobs August 27, 2015 Pen Underwriting Jonathan Turner has been appointed executive chairman at the UK underwriting business within the Arthur J Gallagher group. He was most recently at Brit Insurance, where his roles included active underwriter of its Syndicate 2987. Turner has also held roles at QBE International Insurance. Deutsche Bank Kinner Lakhani has been appointed co-head of [...]
City Moves for 27 August 2015 | Who’s switching jobs August 26, 2015 Nomura Asset Management Andreas Koerner has been appointed head of marketing and client relations for Europe, the Middle East and Africa. He has worked for Nomura Asset Management Germany, where he is chief executive, for almost 12 years. ANV Underwriters The specialty insurance group has appointed Christina Lippert as underwriting manager, professional lines, commercial, Europe. [...]
Why the finance sector is still the place for bonuses – despite a decline in payouts August 26, 2015 Finance sector workers are being paid billions less in bonuses than they were before the 2008 financial crisis, figures by the Office for National Statistics showed this morning. Total bonus payments in finance and insurance reached £13.6bn in the year to April, £5bn less than their pre-recession peak. Economy wide bonuses are just 0.1 per cent [...]
FTSE buoyant as China reassures global investors – London Report August 26, 2015 AFTER China cut interest rates to calm markets, Britain’s top share index posted its biggest one-day rise since 2011 yesterday, following turbulence that has rocked equities globally. The FTSE 100 rebounded, rising 182.47 points, or 3.1 per cent, to 6,081.34 points by the close after dropping to its lowest level since 2012 in the previous [...]