UK oil services companies John Wood Group and Amec Foster Wheeler in £5bn merger deal March 13, 2017 Two UK oil services firms have agreed to a £5bn merger. John Wood Group announced this morning it had agreed a takeover deal for FTSE 250-listed Amec Foster Wheeler. Amec’s share price jumped 18 per cent to £5.76 at the time of writing, while John Wood’s was up eight per cent to £8.10. [stockChart code="AMFW" date="2017-03-13 [...]
UBS has slashed its bonus pool by almost a fifth March 10, 2017 UBS has become the latest investment banking giant to slash its bonus pool as uncertain conditions continued to bite for the world's largest lenders. In the annual report it published today, UBS revealed its bonus pool has fallen 17 per cent, from SFr 3.5bn (£2.84bn) in 2015 to SFr 2.9bn in 2016. Meanwhile, chief executive Sergio Ermotti kept [...]
City Moves for 2 March 2017 – who’s switching jobs? March 2, 2017 Today's City Moves cover commodities platforms, pensions and tourism. Take a look at these movers and shakers: Kynetix Matt Dolton has been appointed chief executive of Kynetix, a leading provider of platforms which connect financial markets to the physical economy. Matt is one of the co-founders of Kynetix and has been spearheading the company’s strategy [...]
Heathrow’s environmental charm offensive: Airport plans to cut late-running departures to reduce noise for locals February 28, 2017 Heathrow has unveiled a new "sustainability strategy", setting out ambitious goals to reduce the airport's environmental impact including making growth from the third runway carbon neutral. It also plans to halve the number of late-running departures to reduce noise for local communities in a voluntary Quiet Night Charter. As part of this strategy, the airport has [...]
Next Liverpool CEO Peter Moore signals new direction for the club – six things you need to know February 28, 2017 As their team nursed the wounds of a bruising 3-1 defeat to Leicester City on Monday night, Liverpool made an announcement that could have much further-reaching implications than a disappointing loss in the league. The club revealed that from June its new chief executive will be Peter Moore, currently chief competition officer at video game giants Electronic [...]
Older workers prepare to work until 70 years of age February 28, 2017 Older workers are preparing to work until 70 years of age, according to a poll by the Chartered Institute of Professional Development (CIPD). The survey polled 1,600 UK employees and showed that a third (37 per cent) of all workers believe they will have to work past the widely accepted retirement age of 65, a [...]
UK banks’ bonus pools have shrunk five per cent over the last year, but bosses’ handouts are on the rise February 26, 2017 Bonus pools at the UK's big five banks have shrunk five per cent in the last year, but handouts to bosses have almost doubled in the same space of time. The total bonus pool for HSBC, Lloyds Banking Group, RBS, Standard Chartered and Barclays fell to around £5.6bn for 2016, compared with around £5.9bn in [...]
City Moves for 22 February 2017 – who’s switching jobs? February 22, 2017 Today's City Moves cover property planning, analytical ratings, energy and engineering. Take a look at these movers and shakers: Indigo Planning Indigo Planning has appointed Sam Pullar as associate director. He joins the group with more than 12 years’ planning and development experience in London and the South East. Much of Sam’s work to date [...]
Banks expect costs for non-financial risks to skyrocket over the next few years February 20, 2017 The majority of banks are fretting that the amount of cash they are expected to stockpile against risks like cybercrime, compliance failings and IT meltdowns is going to mushroom over the next few years. Sixty per cent of European banks believe the amount of capital they will be expected to hold to cover such non-financial risks [...]
Big five banks run up £100bn bill in bad loans and legal costs over the last five years February 16, 2017 The UK's big five banks, which report full-year results next week, have run up a bill of nearly £100bn over the last five years for a toxic mix of fines and bad loans according to a new analysis. However, the era of sour loans and megafines that dwarf the banks' dividend payouts could finally be [...]