Lord David Blunkett says Heathrow expansion must deliver on closing the skills gap October 31, 2016 Legal challenges, what legal challenges? Heathrow has announced the names of 13 members of its new skills taskforce, led by Lord David Blunkett, which meets for the first time today. And Blunkett has said that Heathrow must deliver a long-term skills legacy for the nation, warning that a coordinated skills strategy on infrastructure was necessary to learn [...]
Deutsche Bank share price yo-yoing as investors await fine news October 4, 2016 Deutsche Bank's shares clipped a two-week high earlier this morning before dipping back down, as investors anxiously await news on a potential mega-settlement with the US Department of Justice (DoJ). The bank's shares are currently trading up 0.7 per cent at €11.64. However, at one point this morning, they reached €11.98, perhaps helped by JP Morgan boss Jamie Dimon [...]
Now Credit Suisse chief Tidjane Thiam sounds alarm on European banks September 28, 2016 Credit Suisse boss Tidjane Thiam has today become the latest in a list of names to warn Europe's banks are not in a healthy state. His comments come as Deutsche Bank's share price is swinging widely as rumours circulate as to whether the German government would be prepared to bail out the lender. The German giant, which [...]
Tax credit changes: Chancellor George Osborne braces for House of Lords row October 26, 2015 Chancellor George Osborne’s plans to cut tax credits are expected to face their fiercest opposition yet today as peers consider killing the reforms. The House of Lords is set to debate and vote on three amendments to the proposed cuts to in-work benefits, including a “fatal motion” which would stop the legislation from going into effect. [...]
BoE deputy governor: London’s financial services firms could go to New York October 12, 2016 A top official at the Bank of England has warned New York could poach some of London's financial services firms if the UK does not secure a good Brexit deal. Jon Cunliffe, deputy governor with responsibility for financial stability, said while the threat from European financial hubs like Frankfurt, Paris or Amsterdam was unlikely to [...]
“No deal is better than a bad deal” – Six things we learned from Theresa May’s big Brexit speech January 17, 2017 Theresa May said her plan to quit the EU would involve 12 key objectives, and while some of those may be broader than others, there were still plenty of interesting developments. Speaking at Lancaster House today, the Prime Minister gave an outline of her hopes for Brexit for the first time – so what did we [...]
Commerzbank announces nearly 10,000 jobs up for the chop September 29, 2016 German lender Commerzbank has today announced it will be slashing just shy of 10,000 jobs, while also halting dividend payouts to cover the cost of the latest stages of its business overhaul. Around 9,600 full-time jobs will be shed from the bank over the course of the next four years, as it starts to close down [...]
Deutsche Bank US share price plunges after reports suggest funds have lost faith in the lender September 29, 2016 Troubled financial giant Deutsche Bank saw its shares plummet again in New York last night, dragging Wall Street into the red. The German lender's New York-listed stock dived after reports emerged that several key funds have slashed their exposure to the bank. The news sent shivers through banking sector equity markets, with the S&P 500's financial [...]
The great Deutsche Bank sale begins as bailout rumours continue to swirl September 28, 2016 Deutsche Bank sold one of its less core businesses today, prompting speculation that more asset sales are on the cards at the troubled German lender as it faces the prospect of a multi-billion pound US fine. The bank agreed to sell British insurance business Abbey Life to Phoenix, which will bring in nearly £1bn in capital. [...]
Senior bankers are pushing the government to bring in transitional measures for Brexit, and warning of a “cliff edge” of disruption September 7, 2016 Britain's bankers are pushing for transitional arrangements to soften the impact of Brexit. Banks are currently adopting a “wait and see” approach on whether to remain in the UK, according to the chief executive of the British Bankers' Association, but Browne said that transition measures could soften uncertainty and the risks of a “cliff edge” of [...]