City Moves for 11 January 2016 – Who’s switching jobs January 11, 2016 CBRE Matthew Leitch (pictured) has been appointed as senior director at CBRE Residential. He will be based in the commercial real estate services and investment firm’s Canary Wharf office and will be focused on the prime east London market. Matthew joins from Savills, where spent over five years as a director in the residential development [...]
New mobile challenger bank Starling Bank gets $70m investment as Pinsent Masons finds 38 per cent of Londoners would consider using payment apps January 11, 2016 A new British bank focused exclusively on current accounts has secured a $70m (£48m) investment from an American investor. Starling Bank, which applied to the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA) at the end of last year for a banking license, announced the latest funding round today. Commenting on his $70m [...]
Wall Street sinks and FTSE 100 index closes below 6,000 after another turbulent day in China January 7, 2016 The Dow Jones recorded its worst four-day start to a year on record, following another day of turmoil in China, which also left the S&P 500 on track for its worst start to a year since 1928. The Dow Jones industrial average fell 2.32 percent, to 16,514.1, the S&P 500 dropped 2.37 per cent, and the Nasdaq lost [...]
Standard Chartered deputy chief executive Mike Rees steps down January 7, 2016 Standard Chartered deputy group chief executive Mike Rees will step down at the end of April, the bank announced tonight. Rees, who has worked for Standard Chartered for 26 years, will retire on 30 April 2016, stepping down from both his job as deputy group chief executive and his role on the board, the bank said in [...]
FTSE 100 index closes down as concerns over China cause mining stocks to fall January 6, 2016 The FTSE 100 index closed down today, dragged lower by mining stocks as concerns over China continued. The index closed 1.04 per cent down at 6,073 points, despite strong gains made by BAE Systems. "BAE topped the FTSE 100, as investors sought out defence stocks after North Korea’s nuclear weapon test," said Jasper Lawler, an analyst at [...]
FTSE 100 index trades lower on miners despite gains in Royal Mail’s share price, BAE Systems and Sainsbury’s January 6, 2016 The FTSE 100 index was trading lower in early afternoon trading as miners became lighter after gains made yesterday. The UK's blue-chip index fell 1.58 per cent to 6,040 points, despite a strong jump by Royal Mail. Royal Mail's share price rose 1.14 per cent to 442.2p, the day after its stock was upgraded to "buy" from "hold" by Cantor Fitzgerald, [...]
City Moves for 6 January 2016 | Who’s switching jobs January 6, 2016 Victoria Michael Scott been appointed group finance director of Aim 50-listed floorcovering designers and manufacturers Victoria. Michael joins after eight years at Rothschild, where, as part of its global financial advisory business, he worked across a wide range of public and private company transactions, mergers and acquisitions and debt and equity-related fundraisings. He qualified as [...]
At the close: FTSE 100 index closes up on miners despite losses in Next and Sainsbury’s January 5, 2016 The FTSE 100 index closed up today, outperforming other European markets, as miners made gains. The index closed 0.72 per cent up at 6,137 points, despite losses in Next, Sainsbury's and stocks in companies with exposure to China. Miners ended the day higher, with Glencore leading the pack and Anglo American and Rio Tinto not far behind, after [...]
At the close: FTSE 100 index closes down on commodities and banks December 30, 2015 The FTSE 100 index closed down today over renewed fears of weakness in commodity markets and concerns over bank stocks after reports the Chinese central bank suspended a number of foreign banks from conducting some foreign exchange business. The UK's top blue-chip index shut 0.64 per cent down at 6,274 points, led lower by Glencore, [...]
Bank shares fall after China’s central bank suspends at least three banks from some foreign exchange business, reports December 30, 2015 Bank stocks took a hit in early afternoon trading after the Chinese central bank suspended at least three foreign banks from conducting some foreign exchange business, according to reports. Shares in Royal Bank of Scotland were down 1.81 per cent at 304.5p per share, while HSBC shares fell 1.52 per cent to 536.35p per share and Standard [...]