FTSE jumps as investors cheer the Fed rate rise – London Report December 18, 2015 TOP SHARE index, the FTSE 100, climbed yesterday, tracking gains on other equity markets after investors took the first US interest rate rise in nearly a decade as a sign of policymakers’ confidence in the world’s biggest economy. The FTSE rose 41 points, or 1.2 per cent to 6,102 points, but is down by around seven [...]
Recession risks fade but Brexit still set to drag on growth September 12, 2016 Business activity rebounded in England and Wales last month, a new survey out today shows, confirming that the steep falls seen in the days immediately following the EU referendum have been reversed. The Lloyds regional purchasing managers index (PMI) found that business activity in every region of the UK except Scotland returned to growth in August. [...]
City Moves for 26 August 2016 | Who’s switching jobs August 26, 2016 JLT Employee Benefits JLT Employee Benefits, a pension and benefit consultancy, has hired Tony Pike as head of sales for the investment consulting business. Tony joins with a remit to develop JLT’s investment and delegated consulting services to both new and existing JLT clients. Tony joins from Willis Towers Watson where he was head of UK sales [...]
The woman behind the Brexit row: Gina Miller tells City A.M. why she took the government to task over Article 50 October 13, 2016 Gina Miller's high-profile court case over the triggering of Article 50 – the process by which the UK would start to leave the EU – begins today (Thursday 13 October). Miller's action is one of many brought after the public voted in June for Britain to leave the European Union, but hers has become the bellwether case. Constitutional law, [...]
HSBC’s ringfence relief but HQ could still move November 2, 2015 Concerns that HSBC could lose control of its UK retail arm under ring-fencing rules have been “satisfactorily” dealt with according to the bank’s chief executive. New regulations to take effect in 2019 requiring banks to “ring-fence” their high street operations had caused the bank to worry it would have no say over the capital, dividends, [...]
Lloyds, HSBC, First Direct warn Apple Pay users: Storing other people’s fingerprints is like “giving out your pin” November 3, 2015 Store your spouse’s fingerprint on your phone? You could be in for a nasty surprise. UK banks are warning customers against the practice, announcing that if you wish to use Apple Pay, you must delete other people’s prints. Lloyds’ customers are warned in the bank’s terms and conditions: If Touch ID is available on your [...]
Bank of England stress tests: RBS and Standard Chartered flagged for “capital inadequacies” as Bank warns new capital requirements could be introduced next year December 1, 2015 British banks could be required to bolster their capital reserves by billions of pounds as soon as next year, the Bank of England said this morning, as it revealed that two of the country’s largest lenders had narrowly avoided failing its latest round of stress tests. The Bank is actively considering raising the so-called countercyclical buffer, [...]
Northern SMEs and firms hit by hidden credit crunch November 9, 2015 Twice as many small and medium sized enterprises (SMEs) in the North of England have had their overdraft facilities axed as those in the London, according to research from business financial comparison site Funding Options. In the past two years 55 per cent of businesses in the North were found to have had their overdrafts [...]
Pride in London 2016: The Bank of England will fly the rainbow flag for the first time this year, but the FCA has started celebrating already June 14, 2016 The Square Mile is catching Pride fever. News reaches the Capitalist from the Bank of England that the annual celebration of the LGBT community in London is going to be extra special this year. The Bank of England is making LGBT history by flying the rainbow flag over its building for the first time next weekend. [...]
Jeremy Corbyn could already be harming your investments February 3, 2016 Corbynmania may have reached a crescendo with the election of the Labour leader last year, but the ructions caused by this political phenomenon have not gone away. With Jeremy Corbyn taking an increasingly firm grip of the Party, reshuffling the shadow cabinet and looking to change Labour procedures to enable party members to have more [...]