CBI: Bold changes needed after pandemic to transform the UK into trading powerhouse May 24, 2021 CBI: Bold changes needed to transform UK into trading powerhouse
EU slaps £319m fine on UBS, Nomura and UniCredit for bond cartels May 20, 2021 European Union antitrust regulators charged UBS, UniCredit and Nomura with a fine of £319m for their connections with a European government bond trading cartel. The sizable fines are the most recent punishment of the financial industry for its alleged involvement in foreign exchange cartels, Euribor and Libor benchmark cartels, and bonds cartels. The European Commission [...]
Brexit post-mortem for the City: London’s ‘Golden Age’ is over, warns NatWest chair Howard Davies May 18, 2021 The City of London’s will remain a global financial centre but may not see the ‘golden age’ again, according to NatWest bank chairman Howard Davies. “Almost five years after the Brexit referendum, and five months after Britain’s exit from the European Union, the future of London as a global financial centre seems secure,” the City [...]
Eurostar receives £250m refinancing package after months of waiting May 18, 2021 Eurostar today announced that it had received a £250m refinancing package from a group of banks in a bid to shore up its finances amid the Covid-19 pandemic. The firm said that the deal, which comprises £50m shareholder equity, £150m shareholder guaranteed loans and £50m restructured existing loan facilities, would be guaranteed by majority shareholder [...]
Brexit transfers: Barclays, Goldman Sachs and Morgan Stanley move senior City dealmakers to the EU May 14, 2021 Investment giants Morgan Stanley, Goldman Sachs and Barclays have started to move a range of senior bankers from their offices in Canary Wharf and the City to financial hubs across the EU. Ongoing uncertainty over the UK’s access to the EU’s financial services market, combined with pandemic damage and pressure from local regulators, has led [...]
Huge spike in recruitment as permanent jobs up 90 per cent year-on-year May 13, 2021 The number of permanent roles available in April was up 90 per cent year-on-year, as the UK got ready to emerge from more than a year of falling in and out of coronavirus restrictions. Permanent vacancies were up 90 per cent year-on-year last month, while contract roles were up 83 per cent, according to data [...]
Wall Street closes lower as inflation jitters spark broad sell-off May 11, 2021 US stocks closed lower today as rising commodity prices and labor shortages fed fears that despite reassurances from the US Federal Reserve, near-term price spikes could translate into longer-term inflation. While all three indexes pared their losses from session lows, the sell-off was fairly evenly dispersed across the sectors. The Dow Jones Industrial Average fell [...]
Natwest boss Alison Rose: I’m optimistic about this nation of SMEs May 11, 2021 The economic consequences of the pandemic have been severe, not least on the UK’s smallest businesses, but for Natwest boss Alison Rose it has shown just how resilient the country’s SMEs are. Rose, who was appointed chief executive towards the end of 2019, has spent the majority of her tenure tackling the impact of the [...]
UK Government sell shares of bailed-out NatWest for £1.1bn as stake shrinks to 55 per cent May 11, 2021 UK Government sell shares of bailed-out NatWest for £1.1bn as stake shrinks to 55 per cent
SSE and Equinor to build Scotland’s first carbon capture power station May 11, 2021 Energy heavyweights SSE and Equinor have tabled plans to build Scotland’s first power station using carbon capture technology, in a step towards a low carbon future. If repurposed, the gas-fired unit at Peterhead, Aberdeenshire, could catch up to 1.5m tonnes of carbon dioxide from its emissions each year. The plans are still dependant on securing [...]