Financial Stability Board unveils $1.19 trillion plan to prevent “too big to fail” November 9, 2015 The world's biggest banks could be forced to issue as much as $1.19 trillion (£790bn) in bonds by 2022 under new regulations set out earlier today. The Financial Stability Board (FSB), which was set up by the G20 after the financial crisis to coordinate regulation across the group’s economies, published the new rules for the [...]
City Moves for 21 January 2016 | Who’s switching jobs January 21, 2016 Akin Gump International law firm Akin Gump has announced that Hamish Lal has joined the firm as a partner in its international arbitration practice in London. Hamish, who focuses on international construction arbitration in the oil, gas, nuclear, major projects and infrastructure sectors, joins Akin Gump from Jones Day. Hamish’s practice covers international construction arbitration [...]
IPO giant Worldpay will start to offer loans to small business using big data December 4, 2015 Worldpay, the card payments processor that recently picked up the crown for the biggest London IPO of the year with a value of £4.8bn, is expanding its US small and medium sized business lending into the UK. The division, known as Worldpay Business Finance, will use its extensive data on its customers to offer them [...]
Savers: Act now to protect your cash before EU changes to bank deposit protection rules come into force in January December 22, 2015 Savers should act now to ensure their deposits are protected ahead of new rules coming into force next year. Cash held in bank accounts will only be protected up to £75,000 per person, per account from the 1st January. This is cut from the existing £85,000 protection which has been in place. Deposits held in joint [...]
AIM-listed biotech firm Benchmark to buy shrimp food manufacturer Inve Aquaculture from RBS and Rabobank for $342m December 13, 2015 Benchmark Holdings, which operates numerous sustainable biotechnology and agriculture companies, will tomorrow announce its takeover of fish food business Inve Aquaculture from Royal Bank of Scotland and Rabobank. AIM-listed Benchmark paid $342m (£225m) – $300m in cash and the rest in shares – for Inve, which manufactures nutrition and health products for shrimp nurseries in 70 countries. [...]
Fintech start-up acquirer Silver Falcon to float on London Stock Market November 9, 2015 Silver Falcon, a shell investment company that is aiming to acquire fintech start-ups is today floating on the London Stock Market. The newly formed company is aiming to take advantage of London’s booming fintech startup scene, that in September City AM reported had seen record investment so far in 2015 of £357m. The directors of Silver [...]
The bear is back: Experts warn the FTSE 100 is on the brink as global market volatility continues January 19, 2016 Fears that the FTSE 100 could be dragged into bear market territory deepened yesterday as global equities were gripped by volatility in another day of torrid trading. The FTSE 100 has so far managed to fend off falling into the bear trap, trading around 19 per cent off its all time high of 7,103 in April [...]
Dustin Johnson surges to top of FedEx Cup standings with three-shot victory at BMW Championship September 12, 2016 America's Dustin Johnson stormed to top of the FedEx Cup standings after cruising to a three-shot victory over England’s Paul Casey at the BMW Championship in Indiana. Johnson continued his scintillating form this year, which includes a maiden Major success at the US Open at Oakmont in June, by carding a final round 67 to [...]
Companies flock to London to float on stock market after its bumper year of IPOs December 11, 2015 Companies have been coming to London in droves to bring their companies to market, according to accountants at PwC. London’s stock market was found to be the most active exchange in Europe in 2015, with just over £11.5bn raised through 84 initial public offerings (IPOs). London also became home to three of the biggest IPOs of [...]
Bank stress test results: Britain’s seven biggest lenders including Standard Chartered, HSBC, Lloyds and Barclays, under pressure from regulators November 29, 2015 Britain's biggest banks are bracing for announcements from the Bank of England Tuesday which may force them to cut dividends in order to satisfy regulators’ capital requirements. Seven leading lenders – HSBC, Barclays, Lloyds Banking Group, Standard Chartered, Royal Bank of Scotland, Santander and Nationwide – were subject to the Bank of England’s latest round [...]