European banking shares skid lower as FTSE 100 sinks June 10, 2016 European banking shares finished sharply lower today, making their biggest intraday decline since the beginning of February. The Stoxx 600 Banks index finished 4.2 per cent lower, its biggest one-day fall since 11 February. It was pushed down by the likes of Deutsche Bank, which skidded 4.6 per cent to €14.06, and Credit Suisse, which fell 3.8 per cent [...]
EU referendum: Housebuilders, mid-caps, banks and retail will be the sectors worst-hit by a Brexit, says UBS March 11, 2016 The Brexit debate continues apace – and now UBS Wealth Management has waded in on the argument, pointing out some of the sectors most at risk if the UK votes in favour of leaving the European Union. The good news is fears around Brexit have already been priced into the market, said Caroline Simmons, deputy [...]
Cyber security: System glitch responsible for displaying customer details to others on Wal-mart’s online pharmacy in the US over a 72-hour period in February March 2, 2016 Some US customers logging onto Wal-mart's online pharmacy last month may have been left scratching their head at their supposed medical history, after a coding error made other users' information visible. The retail giant confirmed today that just under 5,000 customers may have been able to see the wrong set of customer information during a 72-hour period in [...]
I’m a migrant and entrepreneur: We all deserve better than Brexit June 23, 2016 I’m a Polish migrant and a successful entrepreneur, and I proudly call London home. Having lived in Krakow, Dublin and New York, it was London’s dynamic intersection of cultures from all over the world (and the EU in particular) that made me want to put down roots here. But sadly that dynamism has started to ebb away [...]
Prudential share price plummets on reports Chinese regulators are tightening insurance restrictions February 2, 2016 A temporary suspension of shares in Prudential was triggered this afternoon, after its share price fell more than eight per cent. The fall came after Bloomberg reported China's currency regulator was tightening restrictions on its citizens buying insurance products from overseas. Purchases of insurance products using UnionPay credit and debit cards will be capped at $5,000 [...]
SocGen leads European banks lower at the close as rout resumes on Deutsche, Barclays, HSBC, Lloyds and RBS share prices and Credit Suisse hits 27 year lows February 11, 2016 Well that didn’t last long. Europe’s bank shares closed down this evening, led by French bank Société Générale after it announced earlier it may struggle to meet its profitability targets this year. The bank, whose share price slumped over 13 per cent in early trading but managed to scale back loses to end the day down just over 12 [...]
Let the good times roll: EY Item Club forecasts strong growth for UK financial services February 15, 2016 The financial services industry can expect decent growth over the next few years, a group of forecasters have said today. Mortgage lending, business borrowing and consumer credit are all set to grow at healthy rates over the coming years, as the UK economy shrugs off recent severe stock market declines. However, the EY Item Club said [...]
Just like Tidjane Thiam’s departure from Prudential for Credit Suisse showed us, chief executives are becoming increasingly important to share prices March 4, 2016 You can't put a price on a life – or so we’re told. A new study, published recently in the Strategic Management Journal, begs to differ. Its authors studied 631 deaths of chief executives between 1950 and 2009, of which 240 were considered to be sudden and unexpected; they then monitored the reaction in the [...]
Chancellor George Osborne to borrow £33bn more than expected over next five years despite boost from cheap debt March 16, 2016 Chancellor George Osborne will borrow an extra £33bn over the next five years as he ruled out making cuts to make up for a tax receipts shortfall. Weaker economic growth left Osborne with a £49bn tax receipts hole over the rest of the current parliament and £69bn gap over the next five years. Lower incomes alone will lead to a [...]
City Moves for 25 June 2015 | Who’s switching jobs June 24, 2015 Nexus CIFS The trade credit insurer has announced the appointment of two commercial underwriters. Gavin Brown joins from Euler Hermes UK, where he has been working since 2006, most recently as an account manager. Philip Oldfield (pictured) has held roles at Aon and Amlin Credit. Artemis Ed Legget is joining the investment management firm to [...]