Funding Circle: Global expansion almost doubles losses at fintech unicorn and peer-to-peer lender Funding Circle September 25, 2016 Losses have almost doubled at fintech unicorn and lending platform Funding Circle, City A.M. understands. The peer-to-peer lending group is set to post a full-year loss of £36m when it publishes its accounts on Tuesday, after expanding into Europe and the US ate into profits. However, revenues at the firm, which was founded in 2010 [...]
City Moves for 10 October 2016 | Who’s switching jobs October 10, 2016 Personal Group Personal Group has appointed George Farrow, the former Reward Gateway chief operating officer, to lead the client management teams and promote the uptake of Hapi, Personal Group's benefits platform, among new and existing clients. With a strong background in strategic growth and product development, George moved into the benefits market following 30 years [...]
Sky invests $1m in air Drone Racing League in the UK September 14, 2016 Sky said today it has invested $1m (£757,600) to bring drone racing to its new channel next month, as it announced plans to launch the first professional drone race in UK. The distribution deal with organiser The Drone League (DRL), whose competitions allow pilots to fly drones through three-dimensional racecouses, will enable the broadcaster to put on live events and screen [...]
HSBC’s shares rise four per cent despite larger-than-expected profit slump after Brazil disposal November 7, 2016 HSBC's share price rose by more than four per cent this morning, despite a sharper-than-expected slump in profits in the third quarter – although stripping out currency fluctuations, things looked rather better… The figures Pre-tax profit at the British lender fell 86 per cent to $843m in the quarter ended 30 September, down from $6.1bn in [...]
City Moves for 2 September 2016 | Who’s switching jobs September 2, 2016 Noble Foods Group John Gildersleeve has been appointed chairman of Noble Foods Group. John will oversee the implementation of the group's growth strategy for diversification and acquisitions. John spent 20 years on the Board of Tesco during its period of rapid expansion. Currently he is the chairman of British Land, a FTSE top 50 property [...]
See us after class: Disappointing back to school week for FTSE 100 as retailers drag it lower September 9, 2016 The FTSE 100 had a decidedly wobbly start to the school year, finishing the first full week of September 1.7 per cent lower than it started. Having come tantalisingly close to the 7,000 mark last week, it finished today at 6,776.95 points, 1.2 per cent down. "You’d be forgiven for falling asleep this afternoon," complained SpreadEx financial analyst [...]
Bank shares and stress tests: the value investor’s verdict December 8, 2016 The Bank of England’s latest stress tests of the UK banking system attracted many column inches of space in the newspapers last week. The aim was to calculate whether these institutions would have enough capital to withstand certain grim scenarios. Moving away from some of the inflammatory headlines, it is worth looking in more [...]
Bank shares and stress tests: the value investor’s verdict December 8, 2016 The Bank of England’s latest stress tests of the UK banking system attracted many column inches of space in the newspapers last week. The aim was to calculate whether these institutions would have enough capital to withstand certain grim scenarios. Moving away from some of the inflammatory headlines, it is worth looking in more detail [...]
The London option: Britain’s EU deal must guarantee our city’s business pre-eminence September 5, 2016 In my last piece for City A.M., just 10 days after the referendum, I said that, by working together, we can keep London open for business and leading in the world. Over the past nine weeks, I’ve been meeting as many business leaders as possible, across all sectors, from startups to global corporations. Sadiq Khan and I [...]
City job market remains stagnant after Brexit according to Adzuna August 2, 2016 Declines in advertised job vacancies means that City job hunters should be prepared to “fight” in a market that has been “shaken” by Brexit. Legal sector vacancies advertised through job search website Adzuna were down by 23 per cent compared to the same time last year and the number of finance sector jobs advertised decreased by 14 per cent. “Brexit has [...]