HSBC to book $1bn earnings hit from sale of business in Argentina April 9, 2024 HSBC has agreed to sell its Argentina business in a move that will see the bank book a $1bn (£800m) pretax loss in its first-quarter earnings.
British Airways and Boots hit by cyber attack with UK staff bank details stolen June 5, 2023 British Airways and retailer Boots said their staff were amongst those hit by a cyber attack on Zellis, a payroll provider used by hundreds of companies in the UK. British Airways, owned by IAG said it had notified affected employees and was providing them with support. “We have been informed that we are one of [...]
Sainsbury’s to sell ATM machines after exiting core banking business September 25, 2024 Sainsbury’s has agreed to sell its ATM machines to operator Notemachine three months after offloading most of its banking business to Natwest.
City’s jobs market slows at fastest rate since 2008, survey suggests January 15, 2024 According to recruitment firm Morgan McKinley, there were 42 per cent fewer jobs available in the financial services sector in the fourth quarter of last year than a year earlier.
US lessor Air Lease says 21 jets stranded in Russia April 12, 2022 US leasing company Air Lease Corp said today 21 of its jets were still stranded in Russia after the company terminated all contracts with the sanction-hit country. Air Lease did not reply when asked about how it could get its aircraft back, but it is believed it could claim insurance following the Kremlin’s decision to [...]
The Chancellor’s tentative steps towards popular capitalism March 6, 2024 For far too many people, hard work no longer translates into material prosperity. Today’s Budget starts to change that, but there’s much more to do, says Sam Bidwell In amongst the excitement of Budget day, it’s easy to lose sight of the basics. The government’s major fiscal events are an opportunity to identify where our [...]
Thames Water creditors in funding drive to dodge special administration September 6, 2024 A group of Thames Water’s creditors are devising backup plans for a renewed injection of cash in a bid to prevent the firm from being effectively renationalised. The UK’s biggest water company is struggling under an £18.7bn debt crisis, and is in talks with lenders to provide it with fresh funding. The floundering utility firm [...]
Wells Fargo warns over interest rate cuts despite boost in profits January 12, 2024 Wells Fargo said it had topped profit expectations for the fourth-quarter of the year today but warned that predicted interest rate cuts could dampen profits in the year ahead.
UK economy: Disposable income climbs despite recession March 28, 2024 Despite a rise in disposable income, household expenditure actually fell as people replenished their savings accounts and paid down debt.
Illiquid assets in higher demand from institutional investors March 27, 2024 The popularity of illiquid assets has spiked in recent years, and more institutional investors than ever are looking to put money in the asset class. Illiquid assets cover a range of investments that can’t be quickly and easily sold or exchanged for their market value, such as infrastructure or stock in unlisted companies. The asset [...]