Week ahead: City braces for more bumper banker bonuses February 20, 2022 Investors are preparing to comb through the details of British high lenders’ results this week for any clues that higher interest rates are goosing their bottom lines. UK banks’ earning season has been underlined by a jump in bonuses for top deal makers which are expected to continue this week. Barclays, the last remaining British [...]
Fire sale UK plc: Goldman Sachs to snap up British assets on the cheap as panicky UK pension funds flee October 11, 2022 In a near-unprecedented rush by British pension funds to raise their cash holdings, Goldman Sachs and a range of other investment giants are planning to snap up UK assets at discounts of up to 30 per cent. Since Kwasi Kwarteng’s disastrously received mini-budget at the end of September, UK pension funds are rushing to improve [...]
Castore founder Tom Beahon on swapping life in the City and as a footballer to start fast-growing British premium sportswear brand March 12, 2021 Steven Gerrard wasn’t the only Liverpudlian celebrating when his Rangers team returned to the summit of Scottish football last weekend. Watching at home on Merseyside were Tom Beahon, 31, and brother Phil, 28, the founders of British sportswear brand Castore. Last year, Castore signed Rangers as their first football client. On Sunday, they toasted the [...]
Financials rally boosts London’s top indexes March 22, 2022 A rally among financial stocks boosted London’s top indexes this morning as the FTSE 100 closes in on its pre-Russian invasion of Ukraine high. The capital’s premier FTSE 100 index closed 0.46 per cent higher at 7,476.72 points, while the domestically-focused FTSE 250 index, which is more aligned with the health of the UK economy, [...]
Lloyds suspends job cuts until October amid coronavirus crisis May 22, 2020 Lloyds Banking Group said today it has suspended all job cuts until October to help employees through the coronavirus crisis. City A.M. revealed last month that staff already going through redundancy processes feared the bank would leave them jobless at the height of the pandemic. Lloyds had previously suspended all new job cuts, but those [...]
Lloyds Bank poaches Morgan Stanley banker as new chief financial officer and will pay him £4.4m in forfeited share awards February 15, 2019 Lloyds Bank has appointed Morgan Stanley banker William Chalmers as its new chief financial officer. The bank said it would pay Chalmers £4.4m in unvested share awards forfeited as a result of leaving Morgan Stanley, where he is currently co-head of its global financial institutions group. Read more: Lloyds Banking Group set to create 8,000 [...]
Lloyds Banking Group beats profit expectations in third quarter October 25, 2018 Lloyds Banking Group announced pre-tax profit of £1.8bn in the third quarter today, beating analyst expectations of £1.7bn. In the three months to 30 September revenue rose to £4.686bn from £4.62bn during the same quarter last year, while profit before tax dipped seven per cent to £1.8bn. Read more: Lloyds and Schroders sign £80bn joint [...]
Swelling costs threaten to throw UK businesses into a ‘winter freeze’ November 30, 2021 A “winter freeze” is looming over UK businesses triggered by the ongoing supply chain crisis swelling costs at a record pace, according to fresh figures published today. Shortages of key materials used by firms engineered by global logistics systems gumming up has raised prices across the board, crimping businesses’ margins. Research by the Confederation of [...]
Serious Fraud Office opens investigation into Arena Television February 23, 2022 The Serious Fraud Office (SFO) is conducting a criminal investigation into collapsed broadcaster Arena Television.
Tracking the pandemic’s impacts on small business February 18, 2021 Next week the Government will provide an update on the lockdown exit plan with a much-speculated upon roadmap to recovery out of the pandemic. This roadmap needs clear signposts and barrier-free routes to help small and medium enterprises (SMEs) recover. It has been a turbulent year for them, evidenced in results from the ACCA UK [...]