FTSE 100 and Wall Street chase record highs as vaccine hopes boost markets December 1, 2020 The FTSE 100 logged its best session in three weeks today while Wall Street hit record highs as markets continue to ride a wave of vaccine optimism. The blue-chip bourse closed up 1.9 per cent, while the FTSE 250 midcap index rose by 2.6 per cent. It comes after the FTSE recording its biggest gain [...]
Breakdown group AA blames investments for profit slump April 3, 2019 Breakdown and insurance firm AA said today that its profit before tax for the year ended January 2019 fell more than 60 per cent to £53m. The figures The company said its steep profit drop was a result of a £26m investment in its roadside and insurance business and said it was distorted by a [...]
Tech stocks drag down Wall Street as FTSE 100 suffers worst month since March October 30, 2020 Sliding tech stocks dragged down Wall Street this afternoon, while the FTSE rounded off its worst monthly fall since March amid a wave of new coronavirus lockdowns. The three main US indexes were on course for their worst week since March as ongoing pandemic-related uncertainty and the looming presidential election sparked market volatility. Read more: [...]
City Moves for 30 January – who’s switching jobs at Wesleyan, Horizon and Winckworth Sherwood? January 30, 2019 Who’s on the move today? Wesleyan Wesleyan, the specialist financial services provider – provides specialist financial advice and solutions to doctors, dentists, lawyers and teachers – has appointed Mario Mazzocchi as its new chief operating officer (COO). Mario previously spent 15 years with Lloyds Banking Group, most recently as COO for the Insurance and Wealth [...]
Wall Street leads global stocks slump as Covid-19 infections rise October 26, 2020 Wall Street suffered its worst daily decline in weeks today as global stock markets posted losses amid a rise in new Covid-19 infections. There was a sea of red across the major US indices as markets closed this evening, with the S&P 500 posting its sharpest daily fall in four weeks. The downbeat sentiment across [...]
Banks welcome Chancellor’s revamp of coronavirus loan scheme April 3, 2020 A revamp of the coronavirus loan scheme for businesses has been welcomed by banks after they faced criticism for delays. The government has pledged to guarantee £330bn of loans but only £14bn has been lent so far. The coronavirus business interruption loan scheme means businesses with a turnover of up to £45m can apply for [...]
Lloyds Bank chief executive Antonio Horta-Osorio on stress: “It nearly broke me” October 7, 2017 Lloyds’ chief executive has said the job nearly “broke” him, dealing with serious insomnia shortly after joining the bank in 2011. In an interview with the Times magazine, Antonio Horta-Osorio discussed the details of his troubles. Within months of starting the top job, he spent nine days at the Priory clinic to prevent a nervous [...]
Banking watchdog outlines plan for single interest rate across cash savings accounts January 9, 2020 The financial watchdog has proposed an overhaul of cash savings products in the UK, a move it said would bump up interest payments to consumers by £260m a year. Under the plans by the Financial Conduct Authority (FCA), banks would have to set a single easy access interest rate (SEAR) across all easy access accounts. [...]
British manufacturing job losses hit six-year high amid Brexit turmoil March 1, 2019 Job losses in Britain’s manufacturing sector hit a six-year high in February, as Brexit uncertainty left the industry’s optimism at a record low, according to a closely followed metric. British manufacturers also continued stockpiling goods at record rates as the prospect of crashing out of the EU without a deal looms ever larger, according to [...]
Markets live: FTSE 100 rebound sours as traders await Fed rates decision June 10, 2020 The FTSE 100 faltered as an initial rebound quickly turned sour and the UK index fell back into the red by the afternoon. London’s blue-chip index pushed 0.74 per cent higher as markets opened today, before dipping into the red by mid-morning. The FTSE pared back some of the losses by the afternoon but edged [...]