FTSE recoups week’s losses as strong US data calms markets – London Report August 28, 2015 THE FTSE 100 rose yesterday recouping all of its losses from this week’s bruising sell-off after strong US data calmed global markets rocked by concerns over Chinese growth. The index closed up 212.83 points, or 3.6 per cent, at 6,192.03, shadowing gains made on Wall Street and in Chinese stocks. It was broadly in line [...]
Iran is open for business: Bankers, bosses and business groups join the foreign secretary as battered British embassy reopens in Tehran August 24, 2015 Bosses from Britain’s largest business groups and energy companies broke new ground over the weekend by embarking on an overseas trade mission to Iran, optimistic that thawed diplomatic relations could pave the way for future trade deals. British Bankers’ Association chief executive Anthony Browne, Institute of Directors (IoD) director general Simon Walker, and Confederation of [...]
HSBC, Barclays and RBS among nine banks signing up to $2bn US foreign exchange settlement August 14, 2015 Nine banks including HSBC, Barclays and Royal Bank of Scotland (RBS) have agreed a $2bn (£1.3bn) settlement with US investors over currency rigging-accusations. Goldman Sachs, BNP Paribas, Bank of America, JP Morgan, Citibank and UBS also signed up to the deal, according to lawyers negotiating on behalf of the investors. A statement by law firm [...]
Newcastle sponsor Wonga named Premier League’s worst for fan engagement while Southampton’s Veho finishes top August 11, 2015 Southampton sponsor Veho is the model to follow for Premier League sponsors "wasting" their investment by failing to engage with fans, while Newcastle United sponsor Wonga is the worst example to follow. Read more: The Saints go marching on to profitability – Southampton’s David Bence is heading for a sustainable business model Veho, the Southampton-based electronics [...]
Gresham Computing prospers in wake of Clareti software boom August 10, 2015 GRESHAM Computing, which makes software for investment banks, yesterday said strong sales of flagship product Clareti Transaction Control (CTC) had propelled a jump in revenue. Total revenues were £7.1m for the half year, up from £6.4m last year, bolstered by group software sales rising 38 per cent. CTC sales rose 247 per cent alone, accounting [...]
City Moves for 11 August 2015 | Who’s switching jobs August 10, 2015 Savills The real estate adviser has appointed Robert Mangan as director in its hotels team. He joins from Michels & Taylor, where he spent five years as a director. Mangan has also held positions at Avestus Capital Partners, Merrill Lynch and BOI. Momentum Global Investment Management Alex Garton has been appointed head of UK institutional [...]
City Moves for 10 August 2015 | Who’s switching jobs August 9, 2015 Deloitte The business advisory firm has appointed Alan Teixeira as global director of international financial reporting standards research. He joins Deloitte after spending 10 years at the International Accounting Standards Board, most recently as its senior technical director overseeing its research and development programme. Teixeira has also worked as general manager of standards and quality [...]
Good results from Legal and General help to boost FTSE – London Report August 6, 2015 BRITAIN’S top share index rose yesterday, boosted by better- than-expected results from Legal & General and London Stock Exchange Group, and by a rebound in the mining sector. The FTSE 100 closed up one per cent at 6,752.41 points, about five per cent below a record high of 7,122.74 points reached in April. Insurer Legal [...]
Investors back Winters despite dividend cut August 6, 2015 SHARES in Standard Chartered soared by more than six per cent before closing mostly flat yesterday, demonstrating investor confidence in the bank’s new chief executive Bill Winters despite reporting disappointing results. The company said that adjusted pre-tax profit had slumped 44 per cent to $1.82bn (£1.17bn) in the six months to the end of June. [...]
Dollar down as jobs data dents chance of hike August 6, 2015 THE DOLLAR fell against other major global currencies yesterday after data revealed that private sector hiring slowed sharply in July, dampening expectations of an interest rate hike in September. US Federal Reserve chief Janet Yellen last week reiterated that she is looking for improvement in the jobs market before voting for the first interest rate [...]