JP Morgan’s chief executive Jamie Dimon has wasted no time in telling staff what will happen at the bank now the UK has voted for Brexit June 24, 2016 Jamie Dimon, chairman and chief executive of JP Morgan, is wasting no time in reassuring staff and investors that the bank isn't about to abandon its UK operations in a post-Brexit world. In a memo sent to staff this morning following the UK's unexpected vote to leave the European Union, Dimon said the US-based bank "will maintain a large presence in London, Bournemouth and [...]
Guy Hands’ Terra Firma completes disposal of all Infinis Energy assets February 9, 2017 Terra Firma has agreed to sell the onshore wind assets of renewable energy firm Infinis to JP Morgan, bringing to an end Guy Hands’ ownership of the Infinis group. Terra Firma, owned and run by Hands, floated Infinis in 2014 but took it private again after then-chancellor George Osborne introduced a series of levies on green [...]
Irish government confirms plans to float €12bn-valued Allied Irish Banks in London and Dublin May 30, 2017 The Irish government has confirmed it will be floating state-owned Allied Irish Banks (AIB) in London and Dublin. The initial public offering (IPO) will see the government dispose of a 25 per cent stake in the lender. It is thought the float deal could value the bank at €12bn, which would make it London’s biggest [...]
Party donors: Here are the biggest names bank-rolling the Conservative campaign May 18, 2017 As the Conservatives launched their policies today, the money behind the Tory manifesto was revealed. The Electoral Commission has published the names of party donors who have given more than £7,500 to a party between 3 May and 9 May, giving an insight into who wants Prime Minister Theresa May back in Number 10. Read [...]
As JP Morgan boss Jamie Dimon warns of job cuts, should the City fear major job losses if we leave the EU? June 6, 2016 Ed Bowsher, deputy editor and senior analyst at Share Radio, says Yes. I am in no doubt that there will be job losses across the City if we leave the EU. That’s partly because the UK economy will slow down immediately after the referendum, and that will hit confidence and deal flow. But there are bigger [...]
Blockchain consortium R3 has raised a $107m series A round of funding from top banks like HSBC, Barclays, UBS and Wells Fargo May 23, 2017 One of the biggest consortium’s working on blockchain technology has raised $107m from the world’s top banks and other big name investors, it’s been revealed. R3 founder and chief executive David Rutter announced the huge figure for its series A round on stage at a blockchain conference in New York, calling the investment “unprecedented”. Investors [...]
London mayor Sadiq Khan says hard Brexit won’t benefit Europe as banks would move to New York, Hong Kong and Singapore March 14, 2017 Sadiq Khan has warned his European counterparts that a hard Brexit wouldn't be beneficial to them, as banks would move to New York and Hong Kong, rather than Paris and Frankfurt. "The point I make to my colleagues across Europe is don't assume so-called 'hard Brexit' benefits you," he said, giving evidence to parliament's Brexit select committee on the UK's negotiating [...]
JP Morgan Cazenove loses its long-standing lead over Bank of America Merrill Lynch in FTSE 100 stockbroking stakes May 31, 2016 JP Morgan Cazenove has lost its long-held position as the top stockbroker for FTSE 100 companies. The bank's crown has been taken by Bank of America Merrill Lynch, new figures from Adviser Rankings show. JP Morgan Cazenove has topped the FTSE 100 rankings every year since Adviser Rankings began compiling the list as part of its [...]
RBS and Barclays among cartels of banks fined by Swiss watchdog for rate rigging December 21, 2016 The Swiss Competition Commission (Comco) has today fined a group of international banks 99m Swiss francs (£78m) over their involvement in four separate cartels, including some aimed at manipulating Libor. The largest element of the fine went to a group of four banks which Comco claims acted in a cartel to fix Euribor for various lengths of time [...]
Anglo American share price rises as Indian tycoon Anil Agarwal invests £2bn in the miner March 16, 2017 Shares in Anglo American have shot up this morning, after Indian tycoon Anil Agarwal made a bid to take a 12 per cent stake in the miner. The stock was up 9.2 per cent at pixel time. The mining boss announced last night that he plans to invest up to £2bn in Anglo by issuing a [...]