Warren Buffett and Bill Gates slam bitcoin and other cryptocurrencies for being non-productive investments May 8, 2018 American billionaires Warren Buffett and Bill Gates have been critical of cryptocurrencies with Buffett saying on Monday that bitcoin was non-productive and ultimately depended on its mystique. Buffett, who is CEO of the American company Berkshire Hathaway, said that bitcoin investors depended on people wanting to pay more for the currency fuelled by the mystique [...]
Aston Martin to appoint three banks to prepare £4bn IPO April 7, 2018 Luxury carmaker Aston Martin is lining up three banks to manage a floatation that could value the firm at between £4bn and £5bn, according to reports. The firm, a favourite of the fictional spy James Bond, is set to hire Deutsche Bank, Goldman Sachs and JP Morgan to prepare a possible London stock market listing, [...]
City firms increase hiring and technology investment plans in spite of Brexit uncertainty July 2, 2018 Financial services firms increased hiring and investment in the second quarter in spite of continued nerves over the Brexit process, new figures show. Employment across financial services rose at the fastest pace in a year, with a balance of 24 per cent saying they had increased hiring in the second quarter, according to the survey [...]
The global financial crisis 10 years on: A timeline of the global events that shaped the crash from the credit crunch to the recession and beyond August 7, 2018 Ten years ago this week the credit crunch started to bite. Take a look back at the global events that shaped one of the biggest recessions in history. Early tremors: February to June 2007 Early signs of trouble build, but are mostly missed. The giant Freddie Mac, also know as the Federal Home Loan Mortgage [...]
Nex and CME’s advisers to land bumper £110m payout for negotiating £3.9bn takeover April 25, 2018 Advisers who worked on the £3.9bn takeover of trading tech company Nex Group by CME Group, the world’s largest futures exchange, are set to land a combined payout of almost £110m. Nex’s financial and corporate brokers, lawyers and public relations (PR) advisers will get a combined £45m, filings today showed, while CME’s will get £63.3m. [...]
Lloyds Bank, Bank of Scotland, Halifax and MBNA ban bitcoin and other cryptocurrency credit card purchases February 5, 2018 Lloyds Banking Group has banned customers from buying bitcoin and other cryptocurrencies using credit cards, as a wave of banks around the world fear being on the hook for big losses if the cryptocurrency sell-off continues. The ban, which comes into effect today across all of the British banking giant’s brands, will mean cryptocurrency exchanges [...]
Citigroup beats earnings expectations April 13, 2018 Wall Street giant Citigroup has topped expectations in its first quarter results. Revenue was up three per cent at $18.87bn (£13.24bn), above consensus estimates of $18.74bn. Analysts had expected the group to report profits of $1.61 per share but it beat this with earnings of $1.68 per share. “Our first quarter results demonstrate strength and [...]
Interserve share price rockets almost 50 per cent | City A.M. March 8, 2018 Shares in troubled outsourcer Interserve today rocketed by almost 50 per cent. JP Morgan settled a string of equity swaps totalling almost six per cent of Interserve’s market value, according to a regulatory filing at lunchtime. The sharp rise in Interserve’s stock will raise hopes it is close to agreeing a rescue package with lenders. [...]
HSBC and Phase Eight are topping the gender pay gap list, but around two thirds of companies are yet to report with the deadline approaching March 24, 2018 With time running out for businesses to publish their gender pay gap figures, only 3,732 of around 9,000 have actually managed to publicly crunch the numbers. Measures introduced last year mean any UK organisation that has 250 or more employees must publish and report specific figures about its gender pay gap. The deadline for public [...]
UK bank HSBC holds on to the title of Europe’s largest – but Barclays and RBS slip down the ranks May 16, 2018 HSBC has held on to the title of Europe’s largest bank once again, according to new data, as the top four remained unchanged. Ranked by total assets, HSBC tops the chart with €2.1 trillion (£1.8 trillion), research from S&P Global Market Intelligence showed. Unchanged from last year, the UK institution was followed by France’s BNP [...]