Quantifying bank quality: Why four star TSB beats one star Barclays at delivering shareholder value April 26, 2016 Imagine you are on the short-list to become the chief executive of a bank. The interview is going well. It looks like you are their man. But then the conversation turns to rewards. The headhunter explains that you will be rewarded for increasing the bank’s price/book value. They give you a blank sheet of paper [...]
Britain’s challenger banks had a bumper 2015 – but now they’re facing the challenges of scale May 4, 2016 Amid the misery and bad news associated with UK banks since the crisis, one of the positive rays of light has been the challenger banks. They have grown quickly, with several listing last year as the sector continues to attract both customer and investor interest. The challengers have also long been feted by politicians as [...]
JP Morgan Chase share price rises after chief executive Jamie Dimon buys 500,000 shares worth $26.5m February 11, 2016 JP Morgan chief executive Jamie Dimon has bought 500,000 shares in the bank, worth roughly $26.5m, City A.M. understands. The bank's shares rose 1.4 per cent in after-hours trading, after the purchase was first reported. JP Morgan was one of many global lenders whose shares were clobbered during turbulent trading today. The bank's shares ended [...]
Sir John Vickers warns Bank of England “too big to fail” bank buffers are not enough February 14, 2016 New requirements for banks to hold enough capital to prevent them from going under in the event of another financial crisis have been questioned by Sir John Vickers. In a stark warning Vickers, the author of 2011's Independent Commission on Banking (ICB) report in the wake of the financial crisis and subsequent bailouts, has called the wisdom of the BoE's [...]
City Moves for 12 April 2016 | Who’s switching jobs April 12, 2016 Bfinance Bfinance, the independently owned investment consultancy, has appointed Peter Hobbsas managing director of private markets in the London office. He joins from MSCI where he was managing director for real estate research and key global accounts, responsible for benchmarking and portfolio analysis, risk services and method development. Prior to this, Peter held various senior [...]
Job growth in London storms ahead of UK average, but introduction of National Living Wage could see employers in sectors with lower wages relying on younger workers or cutting jobs March 8, 2016 Demand for jobs across the UK is at the strongest it has been in years, with London racing out in front, according to a report out today. The study by ManpowerGroup pegged the net employment outlook – the proportion of employers who plan to hire staff less the proportion who plan to reduce their workforce – for the [...]
Micro Focus share price rises after UK company announces $540m deal to acquire US firm Serena Software March 22, 2016 UK software company Micro Focus has announced a $540m (£379m) deal to acquire US firm Serena Software. Privately-owned Serena Software is headquartered in California, but is managed from Hillsboro, Oregon, and St Albans in the UK. It also operates in 10 other countries. Serena reported revenues of $176.2m in the year to 31 January 2015 and adjusted [...]
Best of the Brokers for 9 December 2015 December 9, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com MORRISON SUPERMARKETS HSBC has upgraded Morrisons from “sell” to “hold” after a weak third-quarter trading statement from the supermarket last month caused shares to fall below HSBC’s target price of 150p. It has left its forecasts and target price unchanged. The broker said [...]
Glencore share prices rises as it launches refinancing of $8.45bn loan February 17, 2016 Shares in commodities miner and trader Glencore soared to the top of the FTSE 100 today, after it announced a refinancing deal to replace its $8.45bn one-year revolving credit facility that it initially signed in May 2015. In this initial pre-syndication phase, the company said it's received commitments from senior banks for $8.4bn, representing an increase from [...]
EU referendum: Prince William gives speech suggesting he would not back a Brexit, shortly after Prime Minister David Cameron heads to Brussels to woo MEPs February 16, 2016 Prince William has today delivered a speech that could suggest he supports Britain staying in the EU. Speaking at an event at the Foreign and Commonwealth Office, the Duke of Cambridge said: "For centuries, Britain has been an outward looking nation. Hemmed in by sea, we have always sought to explore what is beyond the [...]