Liquidity concerns mount as investors pull £1bn from Mark Barnett’s Invesco funds January 22, 2020 Investors pulled at least £1bn from Invesco funds managed by Mark Barnett in the final quarter of 2019 amid mounting concerns over liquidity following the collapse of Neil Woodford’s investment empire. Estimates from financial data provider Morningstar suggest the three funds managed by Barnett — Invesco Income, High Income, and UK Strategic Income — suffered [...]
Davos 2020 live: Carrie Lam ‘disappointed’ by rating downgrade January 21, 2020 Please manually refresh this page for our latest Davos 2020 updates. The World Economic Forum at Davos is focusing on sustainability this year. US President Donald Trump is set to make a special address, despite his impeachment beginning in the Senate. Environmental activist Greta Thunberg hosts a panel session. Read more: What is Davos 2020? [...]
UBS profit slides as Swiss bank misses 2019 targets January 21, 2020 Profit at Swiss banking giant UBS fell five per cent for the full year, as the Zurich-headquartered bank missed its targets for 2019. Net profit for the year was $4.3bn (£3.30), down from $4.5bn in 2018. Although profit in the final quarter of 2019 rose 129 per cent, this was largely the result of comparisons [...]
More than 5m passengers traveled through London City Airport in 2019 January 10, 2020 In 2019, London City Airport saw more than 5m passengers travel through for the first time in its history. A record total of 5,100,025 passengers meant growth for the year was up 6.3 per cent on 2018. Read more: London City Airport given carbon neutral accreditation The most popular route remains between London and Amsterdam, [...]
Credit Suisse admits to spying on second executive December 24, 2019 The Credit Suisse spying saga continues as the Swiss bank admitted to having undertaken surveillance of a second senior executive. Following surveillance of the firm’s former wealth management chief, bank blamed former chief operating officer Pierre-Olivier Bouee for hiring detectives in February to track former human resources head Peter Goerke. Read more: Credit Suisse cuts [...]
Insurer LV shifts focus to pension provision with new boss December 20, 2019 Pension provider LV has today announced a new chief executive as it shifts its focus away from insurance to savings and retirement. Mark Hartigan will move to the company from Zurich Insurance group. Current CEO Richard Downey this year lead the sale of LV’s general insurance division to Allianz and will step down at the [...]
London’s New Bond Street has the most expensive retail rents in Europe November 13, 2019 London’s New Bond Street is the most expensive shopping street in Europe for retailers to rent store space. The street in the West End is more expensive than the Avenue de Elysees in Paris and shopping destinations in Milan, Zurich, Vienna and Munich. Read more: London falls on list of best cities for living and [...]
On the right track: We take the world’s slowest express train linking the plush ski resorts of Zermatt and St Moritz October 23, 2019 You could almost feel our compartment teeter over the edge of the crossing as the whole carriage readied cameras and phones to capture the iconic photograph. The Landwasser Viaduct on the Swiss rail network’s Glacier Express is the pièce de résistance of the journey between swish alpine resort towns of Zermatt and St Moritz. And [...]
Facebook cryptocurrency Libra dealt fresh regulatory blow by G7 October 14, 2019 Facebook’s Libra digital currency project must not go ahead until the social media giant demonstrates it is safe and secure, according to a G7 report. The world’s largest economies warned that cryptocurrencies such as Libra pose a threat to the global financial system and backers must ensure the coins are not used to launder money [...]
Tailed in Zurich: How the Credit Suisse spy drama unfolded October 1, 2019 Not many employees start their first day in the new job with a spying scandal hanging over their head. But so it is for Iqbal Khan, the star banker who began life at UBS today against a backdrop of car chases, cocktail party bust-ups and private investigations. While it may read like the plot of [...]