Hefty £1.5bn trading error legal charge erodes Barclays profits July 28, 2022 A £1.5bn legal charge for a trading error has eroded British bank Barclays’s profits, it announced today. Hefty litigation and regulatory costs to deal with selling too many financial products dealt a major blow to Barclays’s first half earnings. Pre-tax profits dropped by a quarter to £3.7bn in the six months to June, down from [...]
London-listed banks boost the City as earnings season rumbles on April 28, 2022 London-listed banks continued to boost the City this morning as lenders’ earnings season presses on full-steam ahead. The capital’s premier FTSE 100 index climbed 0.88 per cent to 7,491.03 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, rose 0.95 per cent to 20,631.69 points. [...]
The Notebook: Why everyone’s investing in gilts April 16, 2024 Victoria Scholar takes the Notebook pen to talk through the latest trends in the investment world, from gilts and gold to Rent the Runway.
From train robberies to ‘Hi Mum’ texts, we are fighting an ever-changing face of fraud August 7, 2023 We've almost all received a "hi mum" message trying to defraud us, but for the victims who fall for the scammers, we must have a safety net, writes Chris Hayward.
Snakes and Ladders: Who is moving jobs in the City this week? December 3, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. Firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This week, [...]
Beazley delivers best combined ratio since 2015 despite profit decrease July 22, 2022 Beazley has delivered its best half-year combined ratio since 2015 despite a decrease in profit. In the six months ended 30 June, the insurance firm posted a profit before tax of £18.6m ($22.3m) – down 87 per cent on last year – while its returns on annualised equity went down by 14 per cent. Gross [...]
UK business activity shrinks as fresh lockdown hits services sector November 23, 2020 UK business activity contracted this month as the rollout of fresh lockdown measures took its toll on the services sector. The IHS Markit/CIPS UK Composite Purchasing Managers’ Index (PMI) dropped to 47.4 in November, according to initial readings, down from 52.1 in October. The figures represent a five-month low and the first time since June [...]
Steepening yields boost London-listed banks April 20, 2022 Financials led the way in the City today as a steepening in global yields boosted sentiment to banks and fund managers. London’s premier FTSE 100 index climbed 0.37 per cent to 7,629.22 points, while the mid-cap domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, closed 0.58 per cent [...]
Letters: Can we be friends again? February 25, 2022 [Re: UK’s leading fintech bosses call on government to ramp up efforts to overhaul regulation, Feb 21] I’m surprised to see fintech leaders calling on the government to overhaul regulation. A year on from the Kalifa Review, and with investment hitting a record $37.3bn in 2021, the UK’s fintech space is thriving. I’d argue this [...]
There are 19 FTSE 100 companies without any ethnic minority board members – is this really the best UK PLC can do? March 17, 2021 There are 19 FTSE 100 companies that still don’t have anyone from an ethnic minority on their board. This comes despite a target set by the government-backed Parker Review into corporate diversity of at least one person from an ethnic minority on every board by 2021. Yes it’s true that seven all-white boards have disappeared [...]