“Inherent conflict of interest” existed in overseeing of Libor, court told in case against two ex-Barclays traders March 7, 2017 A witness from the so-called "voice of banking" told a court today there was an "inherent conflict of interest" in Libor's governance, as trial of two ex-Barclays traders rumbles on. The Serious Fraud Office has claimed Stylianos Contogoulas, 45, and Ryan Reich, 35, played roles in a conspiracy to fix the benchmark rate between 1 June [...]
Growth in the UK’s manufacturing sector fell to a three-month low in February March 1, 2017 Growth in the UK's manufacturing sector fell to a three-month low in February, new figures have shown. Markit's manufacturing PMI fell to 54.6 in February, down from 55.9 in January. Growth was still solid – any number above 50 on the index indicates growth – but the figure nevertheless missed analysts' expectations of 55.6. Markit put the growth down to [...]
Germany’s biggest lender Deutsche Bank could be next in line for shareholder revolt over pay May 19, 2016 Shareholders at Germany's Deutsche Bank have signalled their distaste for the company's pay plan, with a vote against remuneration proposals at the group's annual meeting in Frankfurt. The bank's pay plan was voted down by 51.9 per cent of its investors, with 48.1 per cent voting in favour. Deutsche has weathered several storms during the [...]
UK house prices: What the General Election results mean for the property market June 9, 2017 The result of the General Election, which saw Conservative leader Theresa May lose her majority, has left Britain shocked. But what will it mean for the property market? While some experts think uncertainty may return to the sector, others think the property market will continue to remain strong. Take a look at what experts have [...]
Seven investment charts that caught our eye in June July 6, 2017 Schroders Investment Communications team highlights charts they found interesting this month. Mid-year markets Schroders' team of economists put together a handy summary of how various asset classes and markets have performed as we reach the middle of the year. Looking at broad asset classes, equities have been the best to be invested in, while commodities [...]
Revealed: Monzo’s annual report and the 6 things we learned about the digital challenger bank July 5, 2017 Monzo has released its annual report, revealing how the fintech business is doing. Here's what we learned… 1. It's u-turning on lending Monzo told City A.M. last year that it would be concentrating solely on the current account, with no plans to expand into traditional banking products. Clearly, things have changed. It will now start [...]
Price increases and better product mixes will help European tobacco companies weather the plain packaging storm, according to Moody’s June 15, 2016 Price increases and stronger product mixes will help European tobacco companies stub out the negative effects of new plain packaging regulations and declining volumes, according to new research from Moody's. European tobacco giants Imperial Brands, Philip Morris International (PMI), British American Tobacco (BAT) and Swedish Match will stay resilient and experience steady operating profit growth of around four [...]
HOLD: Hands off interest rates, City A.M.’s Shadow MPC tells Bank of England’s Monetary Policy Committee March 15, 2017 Economists expect the Bank of England to leave monetary policy unchanged at tomorrow’s meeting of senior policymakers, but pressure is slowly growing to begin pushing monetary policy back to more normal levels. City A.M.’s Shadow Monetary Policy Committee (MPC) voted in favour of keeping policy unchanged, but added another dissenter since February's meeting pushing for [...]
How currencies move stock markets April 19, 2017 Many factors move stock markets but the strength of a country’s currency can have a surprisingly large bearing. Several high profile events have underlined this in the past year – most notably Brexit and Donald Trump’s US election win. The way currencies affect stock markets are different in each country. Rising currencies may serve to [...]
Britain’s small and medium-sized firms are left in a trade limbo because of Brexit uncertainty February 13, 2017 Around half of small firms say Brexit will change their trading habits, but they're not sure how, according to money transfer platform TransferWise. Numerous small firms rely on international income, but Brexit uncertainty is leaving them in a trade limbo. Over a quarter receive more than £100,000 a year in international turnover. With nearly 99 per cent [...]