Iran is open for business: Bankers, bosses and business groups join the foreign secretary as battered British embassy reopens in Tehran August 24, 2015 Bosses from Britain’s largest business groups and energy companies broke new ground over the weekend by embarking on an overseas trade mission to Iran, optimistic that thawed diplomatic relations could pave the way for future trade deals. British Bankers’ Association chief executive Anthony Browne, Institute of Directors (IoD) director general Simon Walker, and Confederation of [...]
Commodity and oil heavy FTSE dragged down – London Report August 4, 2015 DATA showing an uptick in UK manufacturing growth in July did little to boost share prices yesterday, as mining stocks were impacted by weaker-than-expected manufacturing figures out of China. Global oil prices also fell yesterday, with benchmark brent crude dropping to below $50 per barrel, which pulled oil companies’ share prices downward. The FTSE 100, [...]
City Moves for 29 July 2015 | Who’s switching jobs July 28, 2015 KPMG Craig Steven-Jennings has been appointed partner in the professional services firm’s enterprise practice. He joins from KPMG’s South African firm and will be based in London. Steven-Jennings first joined its Cape Town office in 1999 and became an audit partner in 2005. Tokio Marine Kiln The insurance provider has promoted Paul Culham to the [...]
Forex rigging scandal: RBS, UBS, HSBC, JP Morgan and Citi set for lawsuit storm after £2bn FCA fine November 12, 2014 Funds, companies and other traders hurt by banks manipulating the foreign exchange markets could make claims totalling many billions of pounds, lawyers said yesterday. Five banks were fined a total of £2bn by the UK’s Financial Conduct Authority and the US Commodity Futures Trading Commission authorities because their traders fiddled key currency benchmarks. But the [...]
Challenge set for Bill Winters on day one at Standard Chartered as UK domicile remains “under review” June 9, 2015 HSBC’s plan of action to review the location of its headquarters puts pressure on Standard Chartered’s new boss Bill Winters as he takes up the role today. StanChart is domiciled in the UK but carries out almost all of its business overseas, specialising in emerging markets. As a result it is set to [...]
Maggie’s care triumphs with St Barts centre June 10, 2015 AFTER nearly seven years of fundraising, designing and lobbying with City councillors, cancer support charity Maggie’s finally saw plans for a cancer support centre at London’s St Bart’s Hospital begin to take shape, as construction commenced yesterday. “We got there in the end,” declared Maggie’s board member Clara Weatherall as the ground was finally broken [...]
City Moves for 27 July 2015 | Who’s switching jobs July 26, 2015 Fulcrum Asset Management The asset manager has appointed Matthew Wright as director in its sales and marketing team. He joins from Newsmith Asset Management, where he was partner. Wright has 16 years’ experience, and has also held roles at Fidelity, UBS Global Asset Management and Carmignac. International General Insurance Holdings Stuart Elliot has been appointed [...]
All eyes are on the Canadian dollar in a data rich week – eToro tips & picks August 3, 2015 Many currencies have been struggling for direction of late, and the euro in particular has generated a news-flow fatigue. Currency markets have been tricky to judge over the last few weeks, and it doesn’t look like that is about to change any time soon. Euro-dollar has been struggling to jump any higher than $1.1150 and, [...]
Challenger bank Shawbrook appoints new chairman Iain Cornish to replace Sir George Mathewson July 6, 2015 Challenger bank Shawbrook has appointed former Yorkshire Building Society chief executive Iain Cornish as its new chairman. Cornish replaces former RBS boss Sir George Mathewson who will step down as chairman and as director with immediate effect. Cornish is a senior independent director of debt manager Arrow Global and wealth manager St James's Place. Read more: Challenger [...]
HMRC pays out its highest ever amount to tax whistleblowers June 14, 2015 HMRC paid a record amount to tax informants in the year ending 31 March, City law firm RPC said today. The state tax collector paid out £605,000, up 50 per cent on the previous year. Experts suggest it is because of increased awareness of the rewards available for information. “HMRC does not widely publicise the [...]