The Bank of London reveals £42m fundraise days after winding-up order from HMRC September 8, 2024 Fintech ‘unicorn’ the Bank of London has announced a £42m injection of funding today after a tumultuous week in which it was hit with a winding-up order and revealed its chief executive was stepping down. In a statement, the specialist clearing bank, one of only two to be created in the UK in the past [...]
FTSE 100 close: ASOS shares nosedive 22 per cent after posting dim results May 10, 2023 London’s FTSE 100 slipped in the City today as online fashion retailer ASOS was pummelled after a dim set of results. The capital’s premier index shed 0.29 per cent to close at 7,741.32 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, lost 0.15 per [...]
FTSE 100 close: Global banking rout weighs on index as budget does little to lift sentiment March 15, 2023 London’s FTSE 100 slumped this afternoon as the banking sector faced a major sell-off following concerns over the future of Credit Suisse. The capital’s premier index closed 3.83 per cent lower at 7,344.45 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, shed 2.63 per [...]
Make no mistake, tax rises are on the way July 23, 2024 Evidence is piling up that Chancellor Rachel Reeves will almost certainly be forced to raise taxes this autumn, Chris Dorrell writes
Why are UK banking stocks doing so badly despite bumper profits? February 13, 2024 The UK's biggest banks are set to post bumper annual profits when they report their 2023 results in the coming weeks. But why are they not being rewarded on the stock market?
Jupiter adds to pressure on Barclays over fossil fuel financing March 3, 2020 Jupiter Asset Management has backed a landmark shareholder resolution calling on Barclays to stop financing fossil fuel producers that are not aligned with the Paris Agreement climate goals. Jupiter, which is one of Barclays’ top-25 shareholders, has joined 11 other institutional investors and over 100 individual shareholders in backing the motion, which is thought to [...]
Greenpeace targets Barclays branches over fossil fuel financing March 2, 2020 Greenpeace activists have targeted almost 100 Barclays bank branches this morning in protest over the bank’s financing of fossil fuel companies. Some 29 branches in London are affected, according to Greenpeace, with activists disabling many of the branches’ lock mechanisms so they are unable to open as usual. Campaigners are demanding the banking giant — [...]
Starmer’s prawn cocktail offensive is just that: palatable but lacking substance February 5, 2024 Labour’s plan to boost business is hard to oppose, but only because it has nothing to say, writes Eliot Wilson.
Why UK banks are not going to cause another financial crisis January 15, 2023 UK banks are better prepared to withstand a jump in home loan defaults, cooling fears of a repeat of the financial crisis, analysts have told City A.M. Strict affordability rules implemented after the 2008 banking crash have strengthened lenders’ loan books, meaning they are well insulated from a potential rise in defaults caused by last [...]
JP Morgan’s investment banking fees could drop 50 per cent, executive says September 13, 2022 JP Morgan Chase’s investment banking revenues could drop by as much as 50 per cent in the third quarter of 2022, one the Wall Street bank’s most senior executives has warned. The bank’s president and chief operating officer Daniel Pinto said he expects JP Morgan’s investment banking fees to be 45-50 per cent lower than [...]