JP Morgan Cazenove to oversee the sale of London Stock Exchange’s Paris-based clearing business LCH SA for €500m October 23, 2016 JP Morgan Cazenove has been appointed to oversee the sale of London Stock Exchange’s Paris-based clearing business LCH SA for up to €500m, a deal crucial to the success of the company’s merger with Deutsche Boerse. City A.M. understands that the bank will be seeking to drum-up competition for LCH SA, with pan-European exchange Euronext thought to [...]
Bitcoin and Ethereum slide after JPMorgan Chase boss slams cryptocurrencies as “fraud” September 13, 2017 JPMorgan Chase chief executive Jamie Dimon slammed cryptocurrencies as a “fraud” last night, pushing the already slipping value of Bitcoin down another notch. Bitcoin was down almost four per cent today at $3,985.03 (£2,994.49), while Ethereum dropped 4.81 per cent to $279.55. Dimon said he would fire an employee who traded in cryptocurrencies for being [...]
Pret a Manger brushes off Jollibee takeover rumours | City A.M. September 19, 2017 Pret a Manger intends to push ahead with its plans for a possible float on the New York Stock Exchange despite speculation a multi-billion-dollar Filipino business is eyeing a takeover bid for the coffee and sandwich chain. City A.M. understands that Jollibee and Pret have not been in contact with each other on the potential [...]
Beware Bitcoin’s bite – why crypto-currency futures might make a risky investment deadly December 13, 2017 Deutsche Bank has raised serious concerns about the risk posed to the global financial system by Bitcoin. It’s not the first to red flag the crypto-currency and warn investors that it is a potentially dangerous financial instrument to get involved with. Others have warned about the dangers of a Bitcoin bubble. European Central bankers have [...]
Bitcoin surge continues as $6,100 mark left behind for new record high October 21, 2017 The US dollar value of bitcoin flew past $6,100 (£4,600) today to hit a new record high as the astonishing acceleration of the cryptocurrency continued. Bitcoin only broke through the $6,000 mark for the first time on Friday afternoon, but a surge of buying quickly pushed its value almost as high as $6,200. One bitcoin [...]
Shadow MPC: After the historic hike, Bank of England should hold fire December 13, 2017 Last month the Bank of England raised interest rates for the first time in a decade – a momentous, if expected, moment. After the storm, the calm. It’s no surprise that our shadow monetary policy committee (MPC) has overwhelming voted against raising interest rates at this meeting, arguing the Bank needs to be cautious about [...]
Beaufort Securities and WH Ireland move into top five most popular stockbrokers for Aim-listed firms as Finncap remains on top October 30, 2017 A good quarter of adding new customers has pushed Beaufort Securities and WH Ireland into the top five stockbrokers to Aim-listed companies by client numbers, according to data published this morning. Beaufort Securities has enjoyed a net gain of three new clients since July to reach 63 overall, making it the fourth most popular broker [...]
Never mind the Brexit: Meet JP Morgan’s “glass half-full” European chief August 14, 2016 JP Morgan Chase employees were left in little doubt about how damaging the UK’s Brexit vote could be. In early June, chairman and chief executive Jamie Dimon spoke to staff in Bournemouth alongside now-former chancellor George Osborne and warned that a vote to leave the European Union could lead to as many as 4,000 job losses [...]
RBS’ mis-selling fine is certain to highlight American hypocrisy, Worldpay’s bid invitation and no rush for the new Ofcom chair July 7, 2017 It was hard to suppress a laugh last week at the sanctimonious angst of corporate America at the fine doled out by Brussels over Google’s anti-competitive behaviour by favouring its shopping service over those of rivals. Those Europeans, came the wailing from across the Atlantic, are extracting money from flagship US companies with little justification. [...]
Federal Reserve gives largest US banks the green light to splash the cash in the second round of stress tests June 28, 2017 Major US banks have performed well in the second round of annual stress tests, as the Federal Reserve (Fed) tonight approved plans for the country’s largest institutions to distribute cash to shareholders. The stress tests, brought in after the financial crash, are designed to ensure that banks could cope in a crisis. The Fed’s approval [...]