BNP Paribas cuts targets for 2020 after global markets revenue plunges 40 per cent February 6, 2019 French banking giant BNP Paribas has cut its targets for 2020 after revenue in its global markets arm plunged 40 per cent amid volatility at the end of last year. The bank’s global markets investment banking and trading division reported revenue of €650m (£571m) in the fourth quarter, a sharp drop from €1.07bn the previous [...]
Morgan Stanley trading revenue hit by sharper fall than peers as shares plummet January 17, 2019 Morgan Stanley suffered the sharpest fall in trading revenue among its peers at the end last year, sending shares plummeting. Fixed income trading at the US bank fell 30 per cent year-on-year to $564m – the largest fall in a week of mixed fourth quarter results by major US banks – the bank said today [...]
HSBC, JP Morgan and American Express back cyber startup Menlo Security in $40m series C | City A.M. December 11, 2017 A cyber security startup has won backing from several top financial institutions amid the growing threat of hacking and data breaches. HSBC, JP Morgan and American Express’s venture arm are among investors in a $40m series C funding round for Menlo Security, a Silicon Valley startup which provides protection against malware. Ericsson Ventures also participated, [...]
Best and worst performing income funds of 2018 revealed February 5, 2019 Investment firm Sanlam UK has revealed the biggest winners and losers in its annual study ranking income funds. The Troy Trojan Income Fund, run by Francis Brooke jumped 37 positions to take the top position, followed by the Axa Framlington Monthly Income Fund and the Miton UK Multi Cap Income Fund, it was announced today. [...]
Danske Bank whistleblower says he was offered hush money November 19, 2018 The whistleblower at the heart of a widening money-laundering scandal centred on Danske Bank has claimed the Danish bank tried to pay him to keep silent, and implicated a major European lender, reported to be Deutsche Bank, and two US banks in having handled suspect funds. Howard Wilkinson – head of Danske Bank’s trading unit [...]
Software developers beat average UK salary by 154 per cent February 28, 2019 Top developers earn 154 per cent more than the average Brit, a report released today has revealed, with blockchain fuelling a rise in employer demand for such skills. Read more: Blockchain oil firm taps former JP Morgan director as new chief Software supremos command an average salary of £71,000 a year compared with the UK [...]
US pharmaceutical company Bristol-Myers Squibb to buy cancer drug developer Celgene in $74bn deal January 3, 2019 US pharmaceutical firm Bristol-Myers Squibb will buy cancer drug research company Celgene Corporation in a cash-and-stock deal valued at $74bn (£58.87bn), the company announced today. Shares in New York-listed Bristol-Myers Squibb fell around 15 per cent in pre-market trading on the announcement, while Celgene's stock soared more than 30 per cent. The merged company will have [...]
Editor’s Notes: Canary Wharf is still the place to meat June 13, 2019 We live in interesting times. A few years ago, who would have expected vegan sausage rolls to fly off Greggs’ heated shelves, or for KFC to announce a new vegan “chicken” burger called The Imposter? Veganism is alive and well… but not so much at the Canary Wharf branch of Boisdale this week, where the [...]
Can Freshfields’ young guns retain the Magic Circle firm’s private equity crown? October 27, 2019 Freshfields Bruckhaus Deringer’s youthful private equity team are on the frontline of the struggle between UK and US law firms to control the City legal market. The firm has led the European private equity deal rankings for the last three years, seeing off the challenge of both Magic Circle and US rivals. However, the shock [...]
Inmarsat prepares to leave stock market in $3.4bn private equity deal March 25, 2019 Private equity firms have sealed a $3.4bn (£2.58bn) deal for UK satellite operator Inmarsat, sending its shares up seven per cent in early morning trading. The agreement will see the successful bidders pay $7.21 (546p) per share for the firm, a premium on its Friday close price of 506.2p. Read more: Inmarsat shares jump 16 [...]