Credit Suisse operating chief resigns after botched spying investigation October 1, 2019 A top executive at Credit Suisse has resigned today following a botched spying scandal that has rocked the world of Swiss banking. Chief operating officer Pierre-Olivier Bouee has stepped down after an internal probe found that he alone initiated surveillance of the bank’s former head of wealth management. Read more: Activists circling Metro Bank Tidjane [...]
Days of soaring London house prices ‘are long gone’, says UBS September 30, 2019 The capital’s real estate market has moved out of bubble-risk territory for the first time in four years amid cooling London house prices, according to a new UBS report. An end to London’s housing boom has pushed the capital down a UBS index that ranks the cities with the biggest real estate bubbles in the [...]
Royal Mail launches search for new UK director September 29, 2019 Royal Mail has launched a search for a director to run its UK operations at a tough time for the former state-owned post monopoly. Read more: Over 100,000 Royal Mail workers to vote on strike action Royal Mail’s shares have dropped over 45 per cent in value over the last year as it struggles with [...]
Marketing trends 2019: Interactive content and voice search are in, annoying chatbots are out September 28, 2019 Marketing is an industry undergoing seismic changes. New technology, changing consumer attitudes and shrinking budgets mean marketers are constantly having to adapt. But while many large advertisers have tightened the purse strings, marketing remains a key way for businesses to drive growth. A recent report by marketing consultancy Lewis, which looked at the world’s 300 [...]
London Calling: London holds on to number two slot in financial centres ranking September 19, 2019 London has clung on to second place in a respected ranking of the world’s top financial centres but its position in the top tier is under threat amid Brexit chaos and other global geopolitical shifts. According to the latest financial index published by researchers at consultancy Z/Yen, London has retained its number two spot behind New York following a year dominated by geopolitical uncertainty and a US-China [...]
‘Sobering and devastating’: Lloyd’s of London bosses speak out on sexual misconduct claims September 18, 2019 Top bosses at Lloyd’s of London have expressed deep regret over a swathe of sexual misconduct allegations that have blighted the historic insurance market’s reputation. The chairman and chief executive of Lloyd’s both said this morning that revelations of sexual harassment and assault against women at the firm had been devastating. Chairman Bruce Carnegie-Brown told [...]
Lloyd’s of London profits rise to £2.3bn September 18, 2019 Lloyd’s of London has reported pre-tax profits of £2.3bn for the first six months of 2019. The historic insurance market’s profits before tax climbed from £600m in the previous year, with boss John Neal citing “increased discipline” for the rise. Neal said: “It is encouraging that the Lloyd’s market is showing increased discipline in 2019 [...]
Swiss stock exchange boss urges London to protect itself in EU negotiations September 8, 2019 The boss of Switzerland’s biggest stock exchange has warned Britain to be ready to protect its financial services industry against measures from the European Union. Read more: Swiss minister says country unlikely to sign EU deal soon Jos Dijsselhof’s Zurich-based Six exchange is at the centre of the EU’s row with Switzerland over trading that [...]
Prudential outlines demerger date as first-half profits rise August 14, 2019 Britain’s biggest insurer Prudential said this morning that its highly-anticipated demerger will take place later this year, as it also reported a double-digit rise in profits for the first half of 2019. Plans to separate the firm’s UK business, M&GPrudential, from its Asian and US operations were confirmed by the group’s management team this morning, [...]
Lloyd’s of London ramps up modernisation drive as it hits electronic trading target August 12, 2019 It is one of the oldest institutions in the City, but there are signs of modernisation at Lloyd’s of London. The historic specialist insurance market has hit a milestone after completing over 50 per cent of its under-writing deals electronically, meeting a target it set itself for the second quarter of this year. For more [...]