London’s FTSE 100 bags gains as rate sensitive stocks kick higher October 13, 2022 London’s FTSE 100 notched gains yesterday driven by stocks exposed to interest rates receiving a boost from reports the government will roll back some of the mini-budget. The capital’s premier index jumped 0.35 per cent to 6,850.27 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK [...]
London’s FTSE 100 weighed down UK banks tumbling October 12, 2022 London’s FTSE 100 was marred by the UK’s largest listed lenders falling sharply today on fears over borrowers struggling to pay home loans. The capital’s premier index fell 0.86 per cent to 6,826.15 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, dropped 1.73 per [...]
Quilter boss Feeney steps down after a decade October 10, 2022 Wealth management giant Quilter has revealed that chief Paul Feeney will step down as chief of the firm at the end of this month as its Affluent segment boss Steven Levin takes over the reins.
City Moves: Who’s switching jobs in the Square Mile? October 6, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. BGF BGF has bolstered its investment team in London with a new lead to oversee the healthcare sector. Sonia Powar, a former partner at capital and venture debt firm BOOST&Co, first launched her career at PwC where [...]
Burger King inks whopper deal for ownership of 74 restaurants October 3, 2022 Burger King has snapped up a swathe of restaurants from its second largest franchise partner, in its largest ever franchise consolidation. The fast food chain’s UK arm said an indirect acquisition of all 74 restaurants under Karali Limited and Teresina Limited would boost its plans to expand its owned and sub-franchised portfolio. Burger King UK’s [...]
Banks and housebuilders bear brunt of market chaos September 29, 2022 Wild swings in UK debt markets and concern over borrowers’ capacity to pay costlier mortgages have whacked London-listed housebuilders and banks this week. Britain’s biggest property developers have been among the hardest hit listed companies during this week’s market sell-off. FTSE 100-listed construction firms Taylor Wimpey and Barratt Developments have shed more than 20 per [...]
Revenues soar for Ten Lifestyle as banks splash the cash September 22, 2022 Interest rate hikes have boosted concierge group Ten Lifestyle’s revenues as banks with cash to splurge spend shell out on its services. Ten, whose clients include Coutts and Natwest Black, said net revenue for the year rose 35 per cent to around £46.8m yesterday, beating forecasts of £45m. The UK firm offers preferential access to [...]
Rising fintech star explains why banks are rushing to jump on the lucrative BNPL bandwagon September 19, 2022 Virgin Money recently confirmed plans to enter Britain’s buy now, pay later (BNPL) market. The banking player is the latest player to start offering BNPL products, which generally can help people to spread the cost of purchases without adding to their overall cost. Earlier this year, another bank, NatWest, said that it planned to enter [...]
London’s FTSE 100 bumped higher by investors pouring into UK banks September 15, 2022 London’s FTSE 100 bounced higher today driven by inventors pouring into banks on expectations of more interest rate rises from the Bank of England. The capital’s premier index rose 0.07 per cent to 7,282.07 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, climbed 0.2 [...]
London’s FTSE 100 bounces despite GDP undershoot September 12, 2022 London’s FTSE 100 bounced today despite new figures revealing the UK economy is much weaker than expected. The capital’s premier index climbed 1.66 per cent to 7,473.03 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, surged 1.7 per cent to 19,513.87 points. Traders shook [...]