HSBC appoints John Flint to succeed Stuart Gulliver as chief executive October 12, 2017 HSBC has appointed John Flint as the company’s new chief executive. Flint, who currently heads HSBC’s retail banking and wealth management businesses, will succeed Stuart Gulliver as executive director and group chief executive effective from 21 February 2018. Reports emerged over the weekend that the bank planned to choose Flint as its next boss. Mark [...]
Italy attracts strong demand for first new bond of the year January 15, 2019 Italy’s first major bond issue of the year has attracted more than €30bn (£26.7bn) of orders as investors showed renewed appetite for long-dated Italian debt. The new 15-year bond, due March 2035, sold through a syndicate of banks is expected to be priced at 18 basis points over its existing benchmark yield, according to Refinitiv. [...]
Adventure firm Zip World secures Lloyds investment to expand across UK January 6, 2019 Adventure company Zip World has secured investment from the private equity arm of Lloyds valuing the zip wire pioneer at £45m. The funding from LDC will help the company, which runs adventure experiences in Wales including the world’s fastest zip wire, expand across the UK and beyond, it said. Founded five year ago, Zip World [...]
World Federation of Advertisers sets up digital media taskforce to tackle fraud January 14, 2019 The World Federation of Advertisers (WFA) has created a global taskforce to tackle the growing problem of ad fraud and improve data transparency. The WFA today said it has assembled a team of top marketing executives tasked with addressing the key challenges facing digital media. Read more: Brexit, ad fraud and #MeToo – what does the [...]
Two city chiefs become latest to pull out of Saudi conference over death of journalist October 16, 2018 Two City bosses have become the latest high-profile names to withdraw from an investor conference in Saudi Arabia following the death of journalist Jamal Khashoggi London Stock Exchange chief executive David Schwimmer and Catherine McGuinness, the City of London Corporation's policy chair, join the likes of HSBC, Credit Suisse and Standard Chartered in pulling out of the [...]
Major UK banks pass ‘worst case scenario’ no-deal Brexit stress tests November 28, 2018 All of the UK’s major banks passed a beefed-up stress test as the Bank of England heralded the resilience of the UK financial system, it was revealed today. The seven banks – Nationwide, Santander UK, HSBC, Standard Chartered, Lloyds, Barclays, and RBS – had three and half times the capital ratio than before the global [...]
Bank of England stress tests: This is how the lenders HSBC, RBS, Barclays, Lloyds Bank, Standard Chartered reacted November 28, 2017 The Bank of England unveiled the results of its latest round of stress tests today, and presented a fairly upbeat outlook on the state of the market. Barclays and RBS were the only lenders to fall below the Bank’s systemic reference points, and in the main, the BoE said banks would incur losses of £50bn [...]
Interserve rescue plan: Shareholder rebellion grows as dissenting hedge fund recruits another supporter February 12, 2019 The hedge fund trying to thwart Interserve's rescue deal designed to avoid it facing the same fate as Carillion has attracted the support of another major shareholder. Last week Coltrane Asset Management, a 27 per cent shareholder in the firm, launched a bid to oust all members of the outsourcer's board except chief executive Debbie [...]
Hope of renewed Interserve rescue refinancing plan gives investors second wind February 26, 2019 Shares in outsourcer Interserve were up 16 per cent this afternoon as investors continue holding their breath for a rethink of its emergency financial rescue plan. The firm is expected to publish an updated version of the plan tomorrow morning after its biggest shareholder, Coltrane Asset Management, demanded it make changes on Thursday night. Read [...]
US legal business Elevate acquires UK new law company Halebury as it targets London float January 8, 2019 US legal business Elevate has today announced it has acquired UK new law business Halebury as it continues expansion ahead of a possible London float. Elevate, which has been backed by Morgan Stanley Expansion Capital, brands itself as a “law company” and provides services to in-house legal departments at companies such as Oracle and Facebook. [...]