Kwarteng tells bank execs he is ‘working closely’ with BoE to calm markets September 28, 2022 Kwasi Kwarteng has told a group of investment bank executives that he is “working closely” with the Bank of England to calm markets. The chancellor and City minister Andrew Griffith said during a roundtable that the government has a “clear commitment to fiscal discipline” and outlined coming post-Brexit changes to financial services regulations, according to [...]
Solvency II shakeup will boost UK insurers’ competitivity, Bank of England exec says June 15, 2022 A high-ranking exec from the Bank of England’s (BoE’s) financial services watchdog has said the government’s plans to overhaul Solvency II will boost the insurance sector competitivity. Charlotte Gerken, executive director of insurance at the BoE’s Prudential Regulation Authority (PRA), said the government’s plans for reforms of Solvency II will increase the UK insurance sector’s [...]
Why are UK banking stocks doing so badly despite bumper profits? February 13, 2024 The UK's biggest banks are set to post bumper annual profits when they report their 2023 results in the coming weeks. But why are they not being rewarded on the stock market?
City Moves: Who’s switching jobs in the Square Mile? November 8, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. The Bank of London The Bank of London has bolstered its board with a fresh non-executive director and chair of the United Kingdom (UK) Bank Board Audit Committee. Mark Carawan, who will step into both roles following [...]
JP Morgan scopes former regulator to head up UK digital bank February 23, 2020 US investment bank JP Morgan is said to have lined up a former City regulator to spearhead the launch of its digital bank in the UK. Clive Adamson, who previously served as head of supervision at the Financial Conduct Authority (FCA), has been elected to chair JP Morgan’s new digital venture set to roll out [...]
CVC mulling Amsterdam listing as London’s hopes for rare private equity IPO dashed March 19, 2022 Private equity veteran CVC Capital Partners is eyeing a listing on Amsterdam’s Euronext, in a blow for the City, it has been reported. According to the Financial Times newspaper, CVC informed investors of its intentions, although no final decisions have been made just yet. London has been hopeful of a rare private equity listing but [...]
Amazon feeds its ‘inquisitive appetite’ in healthcare sector with Signify bid August 23, 2022 Amazon looks set to continue its push into healthcare with a bid for Signify Health, which provides in-home health evaluations, in a move long predicted by analysts. The Big Tech firm, competing with rival bidders UnitedHealth Group, CVS Health and Option Care Health, has offered the second highest figure for the company, according to Bloomberg. [...]
Stock market volatility stems profit slide at Morgan Stanley July 14, 2022 Strong trading activity driven by investors navigating choppy financial markets stemmed a profit slide at Wall Street investment bank Morgan Stanley, the firm announced today. A five per cent jump in equity net income in the three months to June compared to the same period a year ago kept the bank’s bottom line in reasonable [...]
China’s economy slips into deflation as recovery from pandemic continues to falter August 9, 2023 China’s already “tortuous” recovery from the Covid pandemic continued to stall today as fresh data indicated that domestic demand remained depressed. Figures out this morning showed that the world’s second largest economy slid into deflation in July for the first time since February 2021, with the consumer price index (CPI) falling 0.3 per cent year-on-year. [...]
Credit Suisse claims it has turned a corner but investors are unconvinced February 9, 2023 Credit Suisse said today that it has turned a corner after a “horrific” 2022, but investors were less convinced as its share price dropped by nearly 13 per cent in afternoon trading. The sick man of European banking posted a CHF1.4bn (£1.3bn) quarterly loss today, bringing its total loss for the full year to CHF7.3bn. [...]