Chasing global uncertainties with an active toddler is not easy January 22, 2019 You know you are a “Brexhausted” mother when you spend your day (and sometimes nights) chasing Brexit madness and the rest of the time chasing a super-active toddler. At least my toddler is starting to understand when I say “I think we are done for today, it’s time to go to bed”. While that’s been [...]
Case alleging Libor-rigging launched against raft of major banks January 20, 2019 A string of major banks have been accused of rigging the Libor benchmark again, five years on from a major scandal. A class action has been filed in the US against banks such as the Royal Bank of Scotland, Barclays, Lloyds Banking Group, HSBC, UBS, Bank of America, Citi and Deutsche Bank. The action, which [...]
Eli Lilly buys cancer drug specialist Loxo Oncology for $8bn January 7, 2019 Pharmaceuticals giant Eli Lilly has bought Loxo Oncology for $8bn (£6.27bn), marking the second multibillion dollar US drug merger since the start of the new year. In a sign of the fast-growing market for cancer drugs, Eli Lilly said this afternoon that it has acquired Loxo as it looks to bolster its treatment portfolio. Today’s [...]
Do markets have much to celebrate going into 2019? Analysts say anything is possible January 2, 2019 Is a rebound across global indices on the cards in 2019? Callum Keown asks top analysts for their predictions. AS 2019 begins, the year inherits a smorgasbord of risks and uncertainty from a tumultuous 2018, which was characterised by market volatility, global growth concerns and emerging market crises. US stock markets had their worst year in [...]
Deutsche Bank chairman denies merger talks after turbulent year, claims turnaround already bearing fruit December 30, 2018 Crisis-stricken Deutsche Bank is strong and is already benefiting from a turnaround plan, according to chairman Paul Achleitner. The loss making German bank’s boss was quick to play down rumours that the bank needed state aid, or that a merger was on the cars in an interview published this morning. Achleitner told German language newspaper [...]
SFO tells former Barclays trader convicted of Euribor rigging to pay £77,000 confiscation order December 20, 2018 A former Barclays trader who was found guilty of manipulating the Euribor interest rate benchmark has been ordered to pay more than £77,000 or have an extra three years added to his sentence. The Serious Fraud Office (SFO), which brought its case against Philippe Moryoussef in 2015, has ordered the former trader to pay a confiscation order [...]
EU competition watchdog warns four banks over bond trading cartel December 20, 2018 The European Commission has warned four banks they may have breached EU competition rules, as the watchdog investigates an alleged bond trading cartel. Employees at the banks allegedly colluded in online chatrooms to distort competition in US dollar denominated bonds in the secondary market over a six year period. The investigation relates to conduct by individual [...]
Cityfibre secures £1.12bn debt package to fund UK full-fibre rollout December 18, 2018 Fibre network provider Cityfibre has secured a £1.12bn debt package from seven major financial institutions to help fund its rollout of full-fibre broadband across the UK. Proceeds from the infrastructure debt package will be used to fund the first part of Cityfibre’s £2.5bn plan to bring full-fibre to five million homes, the company said today. [...]
Deutsche Bank shares drop to new all-time low after report ties it closer to Danske scandal December 6, 2018 Deutsche Bank shares were down again this afternoon on claims that it processed €31bn more of questionable funds than previously thought on behalf of Danske Bank. Last month, Danske whistleblower Howard Wilkinson claimed a major European lender was involved in processing up to $150bn (£117bn) in suspicious payments. Today, the Financial Times reported Deutsche also processed [...]
Deutsche Bank shares hit rock-bottom in the wake of police raids December 5, 2018 Deutsche Bank shares dropped to an all-time low this morning before rallying, amid an investigation into possible money laundering. Shares dropped 2.4 per cent to €7.90 (£7.03) as trading opened today, the second time they have dropped below €8 after Friday, when prosecutors raided the lender’s offices for a second day. Police were looking for [...]