City Moves for 2 February 2017 – who’s switching jobs? February 2, 2017 Today's City Moves are infrastructure-heavy, covering legal eagles, property and utilities. Take a look at these movers and shakers: Clyde & Co David Hansom has been appointed as a partner in global law firm Clyde & Co’s infrastructure group, where he will lead the firm’s public procurement offering. David is a leading procurement lawyer with [...]
Banks like Lloyds, Barclays and HSBC told to give up stakes in the UK’s payment systems to increase competition and innovation February 25, 2016 Britain's biggest banks have been told to ditch their stake in the core system which govern how the majority of payments in the UK, from salaries to bank transfers, are made in order to increase competition in the market. Barclays, Royal Bank of Scotland, Lloyds, HSBC and Santander are among 18 banks which collectively own Vocalink, the system underpinning [...]
Dividends from FTSE 100 companies expected to rise but investors should watch out for low cover December 14, 2016 Companies in the FTSE 100 are forecast to pay out £78.4bn in dividends in 2017, according to a new report. The total payouts are expected to be 4.6bn higher than 2016 forecasts in a report by AJ Bell, a provider of investment platforms and stockbroker services. This is equivalent to a yield of 4.6 per [...]
Theresa May says she’s had positive talks with banks over Brexit January 19, 2017 Prime Minister Theresa May has claimed positive talks with some of the world's top bankers in Davos, despite news that lenders are preparing to shift jobs from London. UBS, Goldman Sachs and HSBC have all suggested that roles in the capital could be under threat in the aftermath of Brexit. However, speaking to the BBC today, [...]
Record levels of IT investment in 2017? You can bank on it, says report December 19, 2016 The banking sector will up its IT spend to an all-time high in 2017 as the gap between tech-savvy and Luddite lenders widens, according to a report released today. Embracing data and open banking are top priorities for banks the report by consultants Temenos and Capgemini revealed. The focus on technology comes a week after it was [...]
EU referendum: London mayor Boris Johnson turns his back on the City of London after dismissing Goldman Sachs and HSBC on Brexit March 6, 2016 Boris Johnson turned his back on the City this weekend in a bout of banker bashing that marked a sharp departure for the London mayor who has previously championed the Square Mile. Johnson, who came out in favour of Britain leaving the European Union last month, said earlier today that investment banking bosses should be [...]
Major banks’ shares fall as investors prepare for Bank of England stress tests November 28, 2016 Banks' shares were among the biggest fallers in the FTSE 100 this morning as investors brace themselves for the Bank of England's stress test results later this week. At time of writing: Shares in Royal Bank of Scotland are down 2.1 per cent at 197.3p, Barclays is down 1 per cent at 213.3p, Lloyds Banking Group is [...]
Welsh water bidding war heats up after activist locals attempt to block Severn Trent takeover January 16, 2017 An investment company is still hopeful of buying a Welsh water company, with angry locals seeking to block the rival bid in an unprecedented case of shareholder activism. FTSE 100-listed utility firm Severn Trent agreed an £84m, £18.25-per-share, takeover for Dee Valley Water in November. However, in a never-before-seen move, the deal was blocked last week [...]
Expecting the pound to soar on a Trump victory? Here’s why it’s looking flatter than you might have thought November 9, 2016 When Florida looked to leaning towards a Trump victory at around 2:30am last night the pound began to climb. The dollar – at the other end of the equation – started to slide. The dollar's slide seems to have halted for now though the pound's rise has also gone into reverse. The pound at one [...]