Sir Howard Davies finally takes up his role on RBS’ board July 14, 2015 It's happened: Sir Howard Davies, erstwhile chair of the Airports Commission who had to put off his appointment to the board of Royal Bank of Scotland (RBS) to put out his final, controversial, report, will finally take up his position with immediate effect, the bank said this morning. In a statement this morning RBS said [...]
Osborne starts to offload RBS with £2bn sale August 4, 2015 MINISTERS last night fired the starting gun on returning Royal Bank of Scotland (RBS) to private hands, offloading a £2bn stake in the bank seven years after it was rescued by taxpayers. The government is selling a 5.2 per cent of the high street lender, equivalent to 600m shares, to take its interests down to [...]
Tories put City at centre of EU talks: George Osborne vows to take on damaging and misguided regulations September 6, 2015 The government will put the City’s interests at the forefront of its bid to renegotiate Britain’s relationship with the European Union, chancellor George Osborne said today. Writing exclusively for City A.M., the chancellor warns that red tape from Brussels poses a major danger to London’s status as a global financial hub. While Osborne [...]
Royal Bank of Scotland overstated its ability to withstand another financial crisis: Share price drops after it is forced to lower stress test ratio November 21, 2014 Royal Bank of Scotland's share price dropped sharply this aftenoon after it was forced to admit it is less able to withstand financial stress than originally stated, revising its figure down to just above the lowest cut off point. The common equity tier one ratio is seen as a key marker of its resilience [...]
City Moves for 15 September 2015 | Who’s switching jobs September 14, 2015 Societe Generale Societe Generale Corporate and Investment Banking has announced two appointments in its global finance division. Alvaro Huete (pictured) becomes deputy head of global finance and head of global finance for the UK. He was previously global head of syndications and has also worked at Nomura, Banco Urquijo and Lloyds Bank. Terence Shanahan, previously [...]
UK pensions deficits: FTSE 100 firms fear pension pain as workers retire September 6, 2015 Pension schemes represent a “material risk” for many of the largest companies in the FTSE 100, new research shows. Six firms, including BAE Systems, British Airways-owner International Airlines Group, RSA and Royal Bank of Scotland, all have total disclosed pension liabilities almost double their equity market value, so says JLT Employee Benefits’ quarterly report [...]
RBS gains offset by Royal Mail losses as FTSE 100 closes flat – London Report June 11, 2015 GAINS in Royal Bank of Scotland shares bolstered Britain’s top equity index yesterday on news it would be returned to private hands sooner than expected, while shares in Royal Mail fell after the government sold half its stake at a discount. The blue-chip FTSE 100 index closed up 0.2 per cent at 6,846.74 points. The [...]
One in three people can’t make their pay last the whole month May 24, 2016 If you're already having to eke out the last vestiges of your April payday, you can rest assured you're not alone. Over a third of Britons, 34 per cent, fail to make their paycheck last the whole month, according to a new poll of nearly 1,000 people's spending and saving habits from Wizzcash. One of the major reasons [...]
Chancellor George Osborne: The City has made progress… Now for the next 10 years September 6, 2015 Today marks a decade since City A.M. established itself as a leading paper for the City of London. Lots has changed over that time, not least the financial crisis of 2007 and 2008 that cost Britain billions in lost economic output. Back then, the City was seen as part of the problem. But since I [...]
From the Paris attacks and Jeremy Corbyn’s rise to power to the Syria conflict, migrant crisis and Greece’s economic woes, these are the biggest political events of 2015 December 9, 2015 The last year has been one of frantic political events, across the UK, Europe and indeed the world. While there is still a few weeks to go until the end of 2015, with the political calendar winding down we’ve taken a look back over the key events that shaped the political agenda over the last [...]