Salaries and bonuses at London banks, ranked from best to worst – plus who’s paying their staff most fairly May 20, 2016 One size rarely fits all, especially, as a study out today has discovered, when it comes to bankers' pay. The research by Emolument.com, which crunched the numbers on 1,433 salaries, found that paypackets for associates at 18 of London's well-known banks varied by up to £73,000 while the highest paid managing director (MD) is pocketing around £571,963 more than [...]
Google’s Apple Pay rival Android Pay is finally here in the UK May 18, 2016 Good news for anyone eager to pay using just the swipe of their mobile, but who doesn't own an iPhone. Google's Android Pay is launching in the UK today, bringing the tap and pay technology to millions of smartphone users across the country. A rival to Apple Pay which launched last year, the app lets users pay by [...]
Andy Burnham to run for Manchester mayor May 18, 2016 Labour's shadow home secretary Andy Burnham is to enter the race for the Greater Manchester mayoralty. Burnham failed in his bid to become Labour leader after the 2015 election, and has previously expressed an interest in running for the same role in Manchester: today a spokesman confirmed that he would seek the nomination. An official statement is [...]
Sterling soars and markets jump as EU referendum campaigns on hold June 17, 2016 Sterling has risen against the dollar and the FTSE 100 is back above 6,000 points this morning, as the markets respond to the death of Jo Cox, and the EU referendum campaign takes a pause. The pound climbed to $1.4301, up 0.7 per cent overnight, as market chatter and hearsay suggested traders believe the suspension [...]
Is Aim about to get a new Joules in its crown? Fashion retail unveils plans for £140m IPO May 3, 2016 Joules has announced plans to bring its colourful wellies and country-style clothes to London's junior market with a £140m listing. The fashion and lifestyle retailer said the initial public offering will take place in the second quarter of the year, with its founder Tom Joule expected to sell down his 80 per cent stake to less than 50 [...]
Hold onto your hats: Banks in for a bumpy ride following the Brexit vote June 26, 2016 The banking sector is most likely bracing itself for a beating following last Friday's EU referendum result. The UK's decision to leave the EU places the passporting rules – which essentially allow UK banks to operate throughout the European Economic Area without restrictions – in doubt, which could ultimately result in fewer bankers on the streets [...]
War bunkers, pizza and lots of caffeine – how the City is preparing for referendum night June 23, 2016 Brexit "war bunkers" are being opened, extra staff brought in and sleep-deprived workers plied with pizzas, sweets and coffee to keep them going throughout the night as the City beds in for expected high levels of pre- and post-referendum trading. Barclays, HSBC, Lloyds, Societe Generale, Deutsche Bank, Royal Bank of Scotland and JP Morgan will all have heightened [...]
Shareholders grant their blessing to Royal Dutch Shell’s executive pay, but here’s why some investors are not happy May 24, 2016 Royal Dutch Shell's resolution on executive pay was passed with relative ease at its AGM today, but some investors are less than pleased about what the company had to offer. Royal London Asset Management, which holds shares worth £936m in the oil company, has revealed that it voted against the resolution relating to the directors' remuneration [...]
Losing the EU financial services “passport” would be a disaster for the UK economy June 9, 2016 I read with real concern that the Leave campaign does not think that the “passporting” afforded by the EU is worth much to the City. “Such rubbish,” Vote Leave campaigner Andrea Leadsom called it recently. Her statement shows a tragic lack of understanding of what modern financial services need. Thanks to the EU, a UK [...]
At the close: Miners send the FTSE higher as the banking roller coaster rolls on April 28, 2016 The FTSE 100 has somewhat recovered after a dreadful afternoon and has managed to pick up from earlier lows thanks to a rally in oil prices. The FTSE ended the day flat at 6,322.4 points, up just two points from 6,319.91 on Wednesday. Investors were initially caught off-guard by the news that the Bank of Japan would not extend its stimulus plan. [...]