How the big banks are reacting to Brexit: Thousands of UK jobs feared to be at risk June 24, 2016 Thousands of banking jobs across London are at risk after the UK voted for Brexit yesterday. JP Morgan, HSBC, and Citibank have warned jobs would be moved in the event of a Leave vote. And other big banks are also understood to be considering shifting jobs from the UK depending on how Brexit negotiations pan out. [custom id="161"] [...]
Before the bell: What you need to know before the US market open September 20, 2016 Theresa May has been buttering up Wall Street following the Brext vote and drug giant GlaxoSmithKline has a new chief executive. Here's what you need to know before the US open at 2:30pm London time. The US futures markets are pointing higher ahead of the open. The S&P is up by 0.38 per cent, the Nasdaq [...]
Theresa May has called a Wall Street summit to reassure US banking giants in the aftermath of Brexit September 19, 2016 Prime Minister Theresa May is to go on a charm offensive with US banks, holding a summit with some of the biggest institutions in a bid to reassure them over potential repercussions of Britain's vote to leave the EU. Wall Street heavyweights invited to attend the special summit later today include JP Morgan Chase investment banking chief [...]
The monster that is Facebook just hit a record high and overtook Exxon July 28, 2016 Shares in Facebook have hit a record high after smashing Wall Street forecasts across the board, helping it briefly overtake oil firm Exxon Mobil to become the fourth largest company in the world. Shares jumped nearly four per cent on the back of a more than impressive 59 per cent growth in revenue while net income rocketed [...]
Thomson Reuters agrees $3.55bn deal to sell intellectual property and science business July 11, 2016 Thomson Reuters has agreed a $3.55bn (£2.73bn) deal to sell its intellectual property and science business. Canadian buyout group Onex and Baring Private Equity Asia have agreed to acquire the units in cash. The share price of Thomson Reuters was up 1.3 per cent to $40.89 in out-of-hours trading at the time of writing. Read [...]
London mayor Sadiq Khan has branded Labour’s anti-business reputation as an “embarrassment” July 31, 2016 Labour is seen as being “unfriendly to business”, according to the party's most senior elected politician, London mayor Sadiq Khan. Khan said the City of London in particular had “unease” with Labour both in the 2015 general election and under its current leadership. A spokesman for Labour leader Jeremy Corbyn declined to respond to Khan's comments Sources close [...]
City Moves for 14 September 2016 | Who’s switching jobs September 14, 2016 Virgin Group The Virgin Group has appointed Amy Stirling as its new chief financial officer. As CFO of the Virgin Group, Amy will be responsible for the Group’s overall financial and risk positions as well as accounting, tax, treasury and key portfolio matters. Amy will use her expertise and experience to manage the Virgin Group finances [...]
Before the bell: What you need to know before the US market open July 14, 2016 The Bank of England has kept interest rates on hold, stunning the market and sending the pound sharply upwards. Here's what you need to know ahead of the US market open at 2:30pm London time. US futures are pointing higher, signalling what could be another day of broken all-time-highs for indices. The S&P is up [...]
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 [...]
Bash this: The UK’s highest-rated chief executive is a banker June 8, 2016 Is this the end of banker bashing? It turns out the UK's most beloved chief executive works in the finance sector – but his isn't one of the traditional lenders… A new ranking by job review site Glassdoor, which is compiled by looking at how employees rate their own bosses, put Craig Donaldson, the chief executive of [...]