Asian shares extend winning streak for ninth consecutive session June 9, 2020 Asian stocks extended their winning streak for the ninth concession session this morning as the lifting of lockdown measures across the world fuelled investor hopes of a swift global recovery from coronavirus. MSCI’s index of Asia-Pacific shares outside of Japan notched its ninth straight session of gains this morning, marking its longest winning streak since [...]
The return to work: Here’s when City firms are going back to the office August 7, 2020 Prime Minister Boris Johnson on Thursday said a strong recovery for the UK economy will require people to have the confidence to return to work at the office. The government is worried that hospitality businesses are being hit hard by people working from home. But London firms have adopted a more cautious approach than the [...]
HSBC evacuates over 100 from Canary Wharf HQ after employee contracts coronavirus March 5, 2020 HSBC has evacuated more than 100 staff from one floor of its Canary Wharf headquarters after one of its research analysts contracted coronavirus. City A.M. understands that an analyst in the bank’s research department tested positive for Covid-19 late last night, and informed the bank of his diagnosis this morning. Read more: City of London [...]
As Bitcoin pulls back, Ethereum hits three-year high January 5, 2021 Crypto at a Glance It was a turbulent day in the markets yesterday, with Bitcoin seeing a sharp retrace from $33,000 to $28,000 after Sunday’s new all-time high. The leading cryptocurrency by market cap managed to bounce back relatively quickly to over $31,000, where it has somewhat stabilised, but it could be a volatile few [...]
Firms send staff home as coronavirus arrives in Canary Wharf March 6, 2020 Contagion fears gripped Canary Wharf last night after a host of multinational firms pressed the button on coronavirus contingency plans in what could be just a taste of things to come. On a rollercoaster day in one of the globe’s most important financial hubs HSBC took the decision to evacuate more than a hundred staff [...]
Big Four client numbers fall but FTSE 100 stranglehold remains December 2, 2019 The number of clients audited by the Big Four accountancy firms has fallen but they retain an iron grip on the FTSE 100, figures published today show. Figures from Adviser Rankings for the quarter to 6 November showed the number of stock market clients audited by PwC (353), KPMG (312) and Deloitte (225) all fell [...]
Premier Inn owner scoops up almost £1bn to bolster against pandemic June 10, 2020 Whitbread investors have agreed to supply more than 90 per cent of its £1bn cash call, the Premier Inn owner announced today, as it attempts to beef up its balance sheet amid the coronavirus crisis. Existing investors scooped up 91 per cent of the discounted 1-2 fundraiser issued by the hotel group in a bid [...]
The Race for Digital Asset Supremacy September 1, 2020 The financial services industry is in the midst of a generational transition. Where once cryptocurrencies and digital assets represented a counterculture movement, developed as a direct response to the failings of the financial system in the 2008/9 financial crash, today they have become a central part of the financial services industry. The adoption of digital [...]
Why knowledge sharing is key to DeFi’s long-term security December 21, 2020 Interoperability and collaboration are key issues in order for blockchain technology to be adopted as a trusted global platform in supporting peer to peer immutable business transactions and exchange of value. However, the recent surge in proposed and actual uses of the technology to enable decentralised finance, or ‘De-Fi’, has revealed vulnerabilities in some blockchain [...]
Second law firm files multi-million foreign exchange class action against raft of banks December 11, 2019 A second law firm today launched a multi-million pound class action claim against a raft of banks which admitted rigging the foreign exchange markets. US litigation firm Hausfeld filed the claim in the Competition Appeal Tribunal (CAT) today against Barclays, Citibank, the Royal Bank of Scotland, JP Morgan, UBS and MUFG Bank over their participation [...]