Ruth Davidson backs Theresa May for leader of the Conservative party July 8, 2016 We are living in serious times, and serious times call for serious people like Theresa May, Scottish Conservative leader Ruth Davidson said as she gave the home secretary her backing for Tory leader. Davidson, who recently pulled a coup d'état by pushing Labour into second place in Scotland, said that she trusts May to go "eyeball [...]
RBS says it is cutting investment bank costs by another £2bn November 12, 2015 Royal Bank of Scotland (RBS) set out plans today to cut costs in its corporate and institutional banking (CIB) business by about £2bn over the next three years as part of a wider strategy to reduce the size of the division. RBS said in a presentation this afternoon it expects annual revenues in its CIB business [...]
At the close: FTSE 100 closes flat on first trading day in November November 2, 2015 The first trading day of November saw the FTSE 100 close flat as the news that Visa Europe is to be bought by Visa US helped rally banking stocks. The FTSE 100 ended Monday's session 0.01 per cent up at 6,362 points. However, HSBC, which reported a jump in pre-tax profit to $6.1bn (£3.95bn) for the third quarter, [...]
CMA rejects bank break-ups – but this one chart suggests big lenders are ripping customers off October 22, 2015 The competition watchdog may have ruled out breaking up Britain's biggest banks this morning – but this one chart shows customers are paying more money for poorer services from the "Big Four". The Competition & Markets Authority (CMA) compared satisfaction ratings from the consumer group Which? with personal current account prices at different banks. They [...]
City Moves for 29 July 2016 | Who’s switching jobs July 29, 2016 Gumtree Gumtree, the UK’s largest classifieds website, has recruited Matt Button to the newly created role of head of customer relationship management. Matt will work with the Gumtree marketing team and its agencies to devise and deliver a CRM strategy that acquires and retains customers across all its categories. The strategy will be focused on engaging customers [...]
LLoyds share price rises after chancellor George Osborne announced government sold more Lloyds shares, reducing holding to 12 per cent September 25, 2015 Chancellor George Osborne has announced the government has sold another one per cent of its shareholding in Lloyds Banking Group, taking its total shareholding to less than 12 per cent. Lloyds' share price rose 1.3 per cent in early morning trading on the news. The sale programme started last December, and has raised £15bn so [...]
RBS’ Williams & Glyn trade sale (or IPO) to kick-start next year December 16, 2015 Santander UK or Virgin Money could be planning to buy the Williams & Glyn business from Royal Bank of Scotland (RBS) after the taxpayer backed bank said it would begin the sale process in the first half of next year. There has been no formal offer made for Williams & Glyn by either UK challenger, which [...]
Finance chiefs worried by prospect of losing foreign talent August 30, 2016 While the clock has not started ticking on Britain's exit from the European Union, workers are already on the look-out for jobs abroad according to Britain's finance chiefs. The top priority for the UK's finance directors is to ensure the freedom to hire EU nationals in the wake of the Brexit vote, a poll by the [...]
Police investigate Heathrow Airport security pass scam August 10, 2016 Scotland Yard is investigating an alleged scam involving airside security passes for Heathrow Airport, it has been reported. Sky News reported two young women, thought to be airport workers, had been arrested. "We can confirm that officers from the Met's Aviation Policing Command are investigating an allegation of fraud," said a spokesperson for the Metropolitan Police. [...]
JP Morgan’s chief executive Jamie Dimon has wasted no time in telling staff what will happen at the bank now the UK has voted for Brexit June 24, 2016 Jamie Dimon, chairman and chief executive of JP Morgan, is wasting no time in reassuring staff and investors that the bank isn't about to abandon its UK operations in a post-Brexit world. In a memo sent to staff this morning following the UK's unexpected vote to leave the European Union, Dimon said the US-based bank "will maintain a large presence in London, Bournemouth and [...]