Brexit transfers: Barclays, Goldman Sachs and Morgan Stanley move senior City dealmakers to the EU May 14, 2021 Investment giants Morgan Stanley, Goldman Sachs and Barclays have started to move a range of senior bankers from their offices in Canary Wharf and the City to financial hubs across the EU. Ongoing uncertainty over the UK’s access to the EU’s financial services market, combined with pandemic damage and pressure from local regulators, has led [...]
Huge spike in recruitment as permanent jobs up 90 per cent year-on-year May 13, 2021 The number of permanent roles available in April was up 90 per cent year-on-year, as the UK got ready to emerge from more than a year of falling in and out of coronavirus restrictions. Permanent vacancies were up 90 per cent year-on-year last month, while contract roles were up 83 per cent, according to data [...]
Wall Street closes lower as inflation jitters spark broad sell-off May 11, 2021 US stocks closed lower today as rising commodity prices and labor shortages fed fears that despite reassurances from the US Federal Reserve, near-term price spikes could translate into longer-term inflation. While all three indexes pared their losses from session lows, the sell-off was fairly evenly dispersed across the sectors. The Dow Jones Industrial Average fell [...]
Natwest boss Alison Rose: I’m optimistic about this nation of SMEs May 11, 2021 The economic consequences of the pandemic have been severe, not least on the UK’s smallest businesses, but for Natwest boss Alison Rose it has shown just how resilient the country’s SMEs are. Rose, who was appointed chief executive towards the end of 2019, has spent the majority of her tenure tackling the impact of the [...]
UK Government sell shares of bailed-out NatWest for £1.1bn as stake shrinks to 55 per cent May 11, 2021 UK Government sell shares of bailed-out NatWest for £1.1bn as stake shrinks to 55 per cent
SSE and Equinor to build Scotland’s first carbon capture power station May 11, 2021 Energy heavyweights SSE and Equinor have tabled plans to build Scotland’s first power station using carbon capture technology, in a step towards a low carbon future. If repurposed, the gas-fired unit at Peterhead, Aberdeenshire, could catch up to 1.5m tonnes of carbon dioxide from its emissions each year. The plans are still dependant on securing [...]
Wall Street closes lower on inflation jitters May 10, 2021 Wall Street closed lower on today as inflation fears drove investors away from market-leading growth stocks in favour of cyclicals, which stand to benefit most as the economy reopens. Industrial and healthcare shares limited the Dow’s decline but the blue-chip average reversed course late in the session to snap a three-day streak of record closing [...]
Lloyds in talks over £400m deal for retirement group Embark May 9, 2021 Lloyds Bank is in talks over a £400m deal to acquire retirement products provider Embark in what would be its biggest acquisition since it returned to private ownership four years ago. The lender is close to finalising a deal and an announcement could come as early as this month, Sky News reported. Embark, which was [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 5, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. OneBanks hires ex–Lloyds chief as its first CTO Shared branch banking venture OneBanks has appointed a former Lloyds Bank executive as its first chief technology officer (CTO) this week. Andy Willmot, once [...]
India’s Covid crisis makes Barclays and other banks to shift call centre operations back to UK May 3, 2021 Barclays has announced it will shift some of its Indian call centre operations back to the UK as staff in the South-Asian country are struggling to cope with the ongoing Covid-19 crisis. A range of other UK and US banks and companies are mulling to do the same, according to multiple media reports in India [...]