City Moves: Who is switching jobs in the Square Mile this week? March 3, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. This week we have seen a flurry of new hires across the capital. From a Ritz chairman joining an intelligence firm, to a former Knight Frank executive taking on a leading residential role [...]
Case alleging Libor-rigging launched against raft of major banks January 20, 2019 A string of major banks have been accused of rigging the Libor benchmark again, five years on from a major scandal. A class action has been filed in the US against banks such as the Royal Bank of Scotland, Barclays, Lloyds Banking Group, HSBC, UBS, Bank of America, Citi and Deutsche Bank. The action, which [...]
HSBC Hong Kong shareholders mull legal action after dividend halted April 6, 2020 HSBC shareholders in Hong Kong are considering legal action and calling for a meeting with the bank’s management after it scrapped its dividend last week. HSBC and the UK’s other leading banks announced last Wednesday that they were cancelling their dividends after pressure from the Bank of England to conserve cash. Some of HSBC’s Hong [...]
London’s City University scraps Cass name from business school over slavery links July 6, 2020 London’s City University has dropped the name of its Cass Business School over its 18th-century namesake’s links to the slave trade. The school, which frequently ranks in the world’s top MBA programmes, today said it will be renamed City’s Business School after a unanimous ruling from its shareholders found the name was “incompatible with City’s [...]
Schroders profits fall 15 per cent on weak investor sentiment March 7, 2019 Schroders saw profit drop 15 per cent last year as the asset management giant was hit by weaker investor sentiment due to political and economic uncertainty. The figures Profit before tax fell 15 per cent to £649.9m from £760.2m in the 12 months to the end of December last year. Read more: Schroders and Lloyds [...]
Boris Johnson U-turns on NHS surcharge for migrant care and health workers May 21, 2020 Boris Johnson has told the health and home departments to remove the NHS immigrant surcharge for NHS and care workers, after defending the policy just 24 hours ago in parliament. The charge, which is £400 per year for adult migrants from non-European Economic Area countries, has been criticised for applying to frontline workers who have [...]
RBS pays out 70 per cent of government coronavirus loans April 12, 2020 The vast majority of the emergency coronavirus cash being doled out to small businesses has come from the Royal Bank of Scotland (RBS), the lender has revealed. Taxpayer-backed RBS has so far approved 2,500 loans — roughly 70 per cent — under the government’s coronavirus business interruption loan scheme (CBILS), the Sunday Telegraph reported. The [...]
TheCityUK boss: Banks not ‘shirking’ CBILS duty April 28, 2020 One of the City’s most senior figures has insisted banks are not “shirking their responsibilities” as the government unveiled further modifications to the controversial Coronavirus Business Interruption Loan Scheme (CBILS). Miles Celic, chief executive of industry group TheCityUK, said that banks were doing “their level best” to address demand for loans in what he called “an [...]
City A.M.’s shadow MPC votes to hold interest rates despite recent sunnier data May 1, 2019 Ongoing Brexit uncertainty means the Bank of England should hold interest rates steady tomorrow, City economists have said, despite the economy recently showing signs of strength. Read more: UK inflation rate holds steady sending Britons' real wages higher The Bank’s monetary policy committee (MPC) will at midday tomorrow announce its latest interest rate decision, along [...]
Barclays shares: Optimists see an opportunity April 29, 2019 By Graeme Evans from interactive investor. These results do not impress, but there’s lots going on at Barclays and plenty to interest investors. Without the attention generated by activist investor Edward Bramson, it’s likely that last week’s lacklustre investment banking performance at Barclays (LSE:BARC) may have been passed off as just another quarter blighted by [...]