Market reaction to autumn statement a far cry from Truss and Kwarteng’s mini-budget November 17, 2022 Financial markets largely glossed over chancellor Jeremy Hunt’s £55bn worth of tax hikes and spending cuts today, a marked change from them spitting out his predecessor Kwasi Kwarteng’s mini-budget. London’s FTSE 100 closed broadly flat, edging 0.06 per cent lower, while the domestically-focused mid-cap FTSE 250 index bumped 0.05 per cent high. Most of the [...]
City access to the Chancellor: 80 per cent of Rishi Sunak’s meetings are with banks and financial services firms February 8, 2022 As the government is looking to ease rules and regulations for the City of London, it has been revealed that Chancellor Rishi Sunak met with dozens of financial firms, banks, consultancy firms, hedge funds and lobby groups in recent months. According to new analysis, published by the Independent, around 80 per cent of all businesses [...]
London markets lose early gains despite UK banks’ best efforts August 1, 2022 A bumper crop of results from Britain’s largest lender and Asia-focused HSBC initially boosted London markets today, before an afternoon collapse. The capital’s premier FTSE 100 index dropped 0.13 per cent to 7,413.42 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, added 0.22 per [...]
Explainer-in-brief: Gloria Gaynor and the other new aides of No10 February 8, 2022 After a slew of aides at No10 quit last week amongst the turmoil of the Sue Gray report, Downing Street has spun the resignations as Boris Johnson “taking charge” of staffing problems. Steve Barclay will take the vacant role of chief of staff. He’s an old ally of Rishi Sunak and looks ready to steady [...]
City Moves: Who’s switching jobs in the Square Mile? October 4, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. GPP Financial services provider GPP, part of Titan Wealth, has poached its new chief executive officer from American investment banking giant BNY Mellon’s Pershing business. Geoff Towers will be responsible for leading GPP as a core part of the [...]
Meet the London-based financier reviving Sampdoria, sleeping giant of Italian football May 7, 2024 A year ago, Sampdoria were at their lowest ebb. Enter Matteo Manfredi.
Bank scandal victims must be informed of compensation deadline, campaigners say September 11, 2022 The banks at the centre of a multi-billion-pound mis-selling scandal should be forced to inform their victims of an approaching deadline to receive compensation, the Transparency Task Force (TTF) has told MPs. Victims of the interest rate hedging product (IRHP) scandal should be informed they must file any complaints to the UK’s Financial Conduct Authority [...]
Bob Diamond appoints ex-Barclays colleague Rich Ricci to lead Panmure Gordon March 6, 2020 Bob Diamond has hired his former right-hand man from his time at Barclays to head up loss-making stockbroker Panmure Gordon. Diamond appointed Rich Ricci as chief executive of London-based Panmure, which he acquired two years ago. The former Barclays boss will be reunited with 56-year-old American investment banker Ricci, who ran the old Barclays capital [...]
Saracens’ European game with Pau off due to positive Covid-19 tests December 15, 2021 Saracens’ upcoming European Challenge Cup game against French side Pau has been called off due to a series of positive cases in the London club’s camp. Saracens, recently promoted back to the Premiership, were huge favourites for this competition before it began last weekend. In a statement, Saracens said: “Saracens can confirm that the club [...]
Markets: Asian exchanges open slow as Israel-Gaza conflict weighs on sentiment October 30, 2023 Asian share markets were mixed on Monday as Israel’s push into Gaza stirred fears of a wider conflict ahead of central bank meetings in the United States, Britain and Japan, the latter of which might see a policy tightening. The earnings season also continues with Apple, Airbnb, McDonald’s, Moderna and Eli Lilly & Co among the [...]