UK lenders shun emergency Bank of England lending scheme after Credit Suisse collapse May 2, 2023 There was no take up of the Bank of England’s emergency funding scheme in the period it was open daily to lenders as UK banks weathered the storm following the collapse of Silicon Valley Bank (SVB) and Credit Suisse. In coordination with other monetary authorities around the world, Threadneedle Street increased the frequency of its [...]
Barclays follows Citi, Goldman and Morgan Stanley in cutting 100 investment bank jobs despite rate hike profits April 17, 2023 Barclays will follow Citi, Goldman Sachs and Morgan Stanley in cutting more than 100 investment banking jobs, according to Sky News’ Mark Kleinman. The London-based bank is set to axe the jobs following the industry slowdown in deals and IPOs. The layoffs will be spread across multiple countries and across divisions in the bank, it was [...]
Revenue climbs for Sage as cloud business bolsters full year November 16, 2022 Sage Group shot to the top of the FTSE 100 this morning as its cloud business bolsters full year results. The London-listed company posted organic recurring revenue growth of nine per cent to £1.82bn, underpinned by Sage Business Cloud growth of 24 per cent. Northern Europe (UK & Ireland) achieved organic recurring revenue growth of [...]
Bank of England governor Andrew Bailey slams firms for participating in ‘greedflation’ July 6, 2023 Businesses charging unfair prices for products must be “tackled” to help bring down inflation, the Governor of the Bank of England has claimed. Andrew Bailey, speaking to the BBC’s Newsround programme, said there is evidence that some retailers are “charging too much” for petrol. His comments come after the UK’s competition watchdog, the Competition and [...]
BNY Mellon warns staff could face ‘corrective action’ if they don’t return to office April 23, 2023 BNY Mellon has warned employees they may face “correction action” if they do not return to the office, a move that has been met with a mixed reception from the bank’s staff, according to the Sunday Times. In a message entitled ‘Working Together’ sent to employees on 30 March, senior executive vice president Roman Regelman [...]
Banks divided: Interest rate decision sparks debate over timing – June or August? May 10, 2024 Investment banks are divided on when the Bank of England (BoE) may execute its initial rate cut.
Jet maker Embraer reaffirms full-year forecast after increased deliveries November 7, 2022 Embraer has reaffirmed its full-year forecast as it increased quarterly deliveries compared with 2021 levels. The Brazilian jet maker said today it shipped 10 commercial aircraft and 23 executive jets in the three months to the end of September – up 10 per cent from last year’s delivery volumes. The company’s order backlog stood at [...]
“In discussions”: What next for Crispin Odey’s City empire? June 10, 2023 Odey Asset Management has revealed it is in “active discussions” with its broker partners, after fresh misconduct allegations published against its founder led banks to review their relationship with the fund. It followed a report in the Financial Times (FT) – together with Tortoise Media – which included several allegations of sexual harassment or misconduct [...]
UK investors see India and tech funds smash June as climate strategies falter July 1, 2024 Ben Yearsley, director of Fairview Investing, described the Indian bounce as "slightly surprising" given the initial market panic initially after the election.
Morgan Stanley profits fall on dealmaking slump while rising rates lift Bank of America July 18, 2023 The continued lull in dealmaking hit Morgan Stanley’s profit despite a strong performance from its wealth management arm, while rising rates lifted Bank of America. Income at Morgan Stanley, which specialises in investment banking, slipped to $2.2bn in the second quarter, down from $2.5bn the year before but in line with analyst expectations. This fall [...]