FTSE 100 index closes higher as bank shares rise and Janet Yellen’s remarks calm markets despite the continued fall of miners February 10, 2016 The FTSE 100 index closed higher today as banks recouped some of the losses they made yesterday and US Federal Reserve chair Janet Yellen calmed markets. The index closed 0.71 per cent higher at 5,672.3 points. "Fed Chair Janet Yellen’s testimony was always going to be aimed at provoking the least reaction possible in her testimony to the House Financial [...]
Travel website Skyscanner bought by Chinese firm Ctrip in £1.4bn deal November 24, 2016 The UK travel comparison site Skyscanner has been bought up by Ctrip, China's largest online travel business. The deal values Skyscanner at around £1.4bn. The travel website, which is based in Edinburgh, said it would keep the same management team and would be run independently within the Ctrip group. What does this mean for UK [...]
Sir Bernard Hogan-Howe to retire as Metropolitan Police commissioner September 29, 2016 Britain's most senior police officer is to retire after five years in the post, Scotland Yard said today. The Metropolitan Police Service (MPS) said its commissioner, Sir Bernard Hogan-Howe, who oversees 32,000 police offers, will stay in his post until February next year to allow for a successor to be appointed. During his time in office, Hogan-Howe [...]
Post-Brexit demand for residential property is good news for developers and investors September 30, 2016 An attractive capital, offering high value jobs, an educated workforce, stunning architecture, centuries of history, a peerless reputation for arts and culture and some of the best schools in Scotland, Edinburgh remains a highly sought after property market. With demand sky high, across both the owner-occupier and private rented (PRS) sectors, prices and rental yields [...]
FCA launches probe over alleged bond market rigging by trader at Lloyds Banking Group January 6, 2016 The City’s watchdog has launched a probe into whether the UK government bond market was manipulated by a trader at Lloyds Banking Group. The Financial Conduct Authority (FCA) is looking into whether at least one Lloyds trader sought to increase profits by driving down the price of the bonds or by inflating their prices when [...]
FTSE 100 index rallies after Asian markets as the share prices of Reckitt Benckiser and IAG rise February 15, 2016 The FTSE 100 index shot higher today after a rally on most Asian stock markets, despite poor trade data coming out of China. The UK's blue-chip index rose 2.26 per cent to 5,836 points in early afternoon trading, led higher by Reckitt Benckiser and British Airways owner International Consolidated Airlines Group (IAG). "No severe sell-off in Chinese markets after a [...]
City Moves for 30 November 2016 | Who’s switching jobs November 30, 2016 Close Brothers Asset Management Close Brothers Asset Management (CBAM) has strengthened its financial education corporate relationship team, making key appointments in senior positions. Mike Hardy (pictured) has been appointed as director of strategic partnerships having over 15 years’ experience in this area with senior positions at three FTSE companies; HSBC, Aviva and Lloyds Bank. His role [...]
Class action suit brought against Barclays, BNP Paribas and eight more November 26, 2015 Big-name banks including Goldman Sachs, Barclays, UBS and the Royal Bank of Scotland have been accused of conspiring to limit competition by a pension fund in the US. The class action lawsuit filed yesterday says that the banks, which also include Bank of America Merrill Lynch, JPMorgan Chase, Citigroup, Credit Suisse Group, BNP Paribas and [...]
FTSE 100 index closes lower as miners and banks slide February 9, 2016 The FTSE 100 index extended its losses on Tuesday after having traded with some volatility over the course of the day. The UK's blue chip index fell 0.88 per cent to 5,632.19 points as banks and miners continued to tumble. “It’s becoming a ‘get yer hard hat on’ situation with bank stocks coming down left and right [...]
Federal Reserve policy makers highlight increased uncertainty and growing risks in January meeting February 17, 2016 Interest rate setters at the US Federal Reserve said it was premature to alter their economic outlook given strong financial market turbulence this year. However, they had become more cautious, emphasising that risks had increased. "Domestic financial conditions tightened over the inter-meeting period, as turmoil in Chinese financial markets and lower oil prices contributed to [...]