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....The US Justice Department highlighted the UK connection to suspected illicit funds after investigating how proceeds of the Russian tax fraud were allegedly laundered into luxury apartments in New York. US court documents, seen by the BBC, show alleged wire transfers from the Russian organised crime group going into the UK bank account of Renaissance Capital - a Russian investment banking firm, which has offices in London. ... [Read full article on BBC ]
Friday 19th of May 2017 11:34:21 PM
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....While people in the UK are used to seeing companies and utilities bought and sold to the highest bidder – Cadbury, ICI, British Steel and Jaguar Land Rover have all disappeared or gone into foreign hands – Australians appear more attached to their big names, especially ones worth billions and which have paid handsome dividends to shareholders and pension funds down the years. Richard Knights of the London-based investment banking and share brokerage firm Liberum Capital says Elliott had misjudged the likely political fallout from its proposal that BHP drop its stock market listing in Australia. ... [Read full article on Guardian ]
Friday 19th of May 2017 10:19:28 PM
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Latest Finance News related to Investment Bank

Police probe UK links to Magnitsky money image
Source : BBC [Read Article] Friday 19th of May 2017 11:34:21 PM
....The US Justice Department highlighted the UK connection to suspected illicit funds after investigating how proceeds of the Russian tax fraud were allegedly laundered into luxury apartments in New York. US court documents, seen by the BBC, show alleged wire transfers from the Russian organised crime group going into the UK bank account of Renaissance Capital - a Russian investment banking firm, which has offices in London. ...
Mine craft: why BHP's strategic overhaul could help repel a hedge fund predator image
....While people in the UK are used to seeing companies and utilities bought and sold to the highest bidder – Cadbury, ICI, British Steel and Jaguar Land Rover have all disappeared or gone into foreign hands – Australians appear more attached to their big names, especially ones worth billions and which have paid handsome dividends to shareholders and pension funds down the years. Richard Knights of the London-based investment banking and share brokerage firm Liberum Capital says Elliott had misjudged the likely political fallout from its proposal that BHP drop its stock market listing in Australia. ...
JP Morgan buys bigger office for 1,000 staff in Dublin image
Source : BBC [Read Article] Monday 15th of May 2017 02:01:38 PM
. JP Morgan, the US investment bank, has bought a new office building in Dublin that can accommodate up to 1,000 staff. ...
Final taxpayer shares in Lloyds Banking Group to be sold off image
Source : Guardian [Read Article] Sunday 14th of May 2017 02:28:48 PM
.... He had ambitions for a discounted share sale to the public, which had to be abandoned a year later by his successor, Philip Hammond, because of the fall in the bank’s shares after the Brexit vote. Instead the shares are being sold off on the stock market through the investment bank Morgan Stanley at prices below the 73. ...
Labour has big spending ideas, but no plan to earn our trust | Phillip Inman image
....The Labour manifesto is a stark reminder of the havoc a Tory government will create over the next five years if it wins a sizable majority next month. From the holes it identifies in NHS funding to the need for an investment bank to promote infrastructure spending, the document has something to say about many of the areas crying out for government intervention. ...
Adidas finds buyer for its golf unit image
Source : BBC [Read Article] Thursday 11th of May 2017 07:22:31 AM
....From a sales point of view, other sports such as athletics and basketball offer more attractive opportunities for sales growth. So no doubt Adidas are relieved to have finally concluded the sale, which had involved them bringing in investment bank Guggenheim Partners in order to find a buyer. ...
Staley might be right: UK immigration policy could be key to City's future | Nils Pratley image
....We can guess the real reason for preferring the US, of course: Pret is expanding rapidly there, and anything that looks fresh and exciting tends to attract a higher valuation in the US. But it is harder to understand why Pret requires such a mighty collection of investment banks – five of them – to draw up the plans. ...
Barclays CEO sees no reason for Brexit jobs shift to Europe image
Source : Guardian [Read Article] Wednesday 10th of May 2017 12:12:29 PM
....Jes Staley said Brexit would be “a wholly manageable challenge” and “significantly less costly” than other problems the bank had encountered. Preparing for Brexit, Staley said, was not as complex as setting up a US holding company, as required by the US authorities last year, or preparing to ring-fence Barclays’ high street bank from its risky investment banking arm by 2019. ...
What's our cut? Energy firm lets customers see profit margins image
Source : Guardian [Read Article] Monday 8th of May 2017 07:52:55 AM
....The pledge saw shares at UK-listed the SSE and British Gas owner Centrica slide last week. Analysts at the investment bank Jefferies said they expected SSE to take an 8% hit to its earnings before interest and tax in 2018-19, and a 20% reduction for Centrica. ...
Apple can’t just make iPhones for ever. What’s next? image
Source : Guardian [Read Article] Sunday 7th of May 2017 06:00:25 AM
....But a slowdown in its biggest market makes the $250bn cash mountain that Apple is still sitting on even more intriguing. Analysts at Citigroup, the investment bank, have drawn up a list of seven companies that Apple could buy with the cash. ...
M&S puts faith in fashion novice from Halfords and retail veteran image
Source : Guardian [Read Article] Friday 5th of May 2017 11:04:47 PM
.... When Swannell joined they were changing hands for 370p and on Friday they closed at 375p, after gaining 18p on the back of Norman’s appointment. The former investment banker inherited a business the delivered profits £780m in 2011 but is handing over one expected to make just shy of £600m when it delivers its annual results later this month. ...
Brexit will 'stall' City, says Goldman Sachs chief image
Source : Guardian [Read Article] Friday 5th of May 2017 07:01:26 AM
....The chief executive of Goldman Sachs has warned that London’s financial centre will “stall” due to the turmoil of the Brexit process. Lloyd Blankfein, who runs the world’s second-largest investment bank, said a three-decade expansion that has turned London’s financial services sector into a world leader could grind to a halt. ...
TV's got talent: top jobs in UK broadcasting up for grabs image
Source : Guardian [Read Article] Thursday 4th of May 2017 06:29:22 AM
....Other names in the frame include UKTV boss Darren Childs – Abraham held the role before his surprise selection to run Channel 4; Tim Davie, chief executive of BBC Worldwide, the corporation’s commercial arm; and Jane Turton, who runs All3Media, the producer behind Midsomer Murders, Skins and The Only Way is Essex. Rob Woodward, a former investment banker and Channel 4 executive, announced he was standing down as STV chief executive last week and has not publicly ruled out running for the Abraham’s job. ...
JP Morgan may move hundreds of jobs in pre-Brexit move image
Source : BBC [Read Article] Wednesday 3rd of May 2017 12:42:46 PM
.... . Speaking to Bloomberg News, Mr Pinto, head of investment banking at JP Morgan, said: "We are going to use the three banks we already have in Europe as the anchors for our operations. ...
JP Morgan to move hundreds of jobs out of UK due to Brexit image
Source : Guardian [Read Article] Wednesday 3rd of May 2017 11:36:23 AM
....Revealing for the first time the locations that will benefit from the UK’s exit from the EU, one of the US bank’s most senior executives indicated that other roles would follow once the outcome of the Brexit negotiations was known. “We are going to use the three banks we already have in Europe as the anchors for our operations,” Daniel Pinto, JP Morgan’s head of investment banking, told Bloomberg. ...
Voices of the 1%: how do Britain's highest earners feel about their income? image
....1% was £990,000. A senior investment banker, who earns hundreds of thousands of pounds a year, said he “just doesn’t feel particularly wealthy” compared with other parents at his children’s private school who, he said, were sitting on £100m-plus family fortunes. ...
China's HNA becomes Deutsche Bank's biggest shareholder image
Source : BBC [Read Article] Wednesday 3rd of May 2017 05:46:08 AM
....Chinese conglomerate HNA has overtaken Blackrock to become Deutsche Bank's biggest shareholder after increasing its stake in the firm to nearly 10%. HNA became a major shareholder in Europe's largest investment bank after acquiring a 4. ...
If Barclays CEO is shown the door, let it be for the right reason | Nils Pratley image
.... In the post-crisis era, attempting to unmask a whistleblower is a serious offence for a bank boss. It doesn’t matter if Staley thought the informant was making an unfounded and malicious attack on Tim Main, a recent senior recruit to Barclays’ investment bank. ...
Trump is considering new Glass-Steagall-style bank rules image
Source : BBC [Read Article] Monday 1st of May 2017 06:18:44 PM
....Shares in banks initially fell after President Trump's comments before recovering ground. US banks were permitted to own both High Street banks and investment banking operations in 1999, when the Glass-Steagall Act was repealed. ...
Cycling fashion outfit Rapha plots route into the fast lane image
Source : Guardian [Read Article] Monday 1st of May 2017 01:44:14 PM
.... Last year Rapha sales jumped almost 30% to £63m as it tapped latent demand for fashionable cycling gear and opened stores – or “clubhouses” as it calls them – as far afield as Seoul and Chicago. The London-based business founded in 2004 by Mottram, a former branding consultant, got this far in the race under its own steam but recently hired an investment bank to look at options for its future, which could include a sale. ...
Apple’s addiction to iPhone shows no sign of waning image
Source : Guardian [Read Article] Sunday 30th of April 2017 06:00:21 AM
.... Trump plans to give incentives to companies who repatriate their large overseas cash holdings, although no details were given at last week’s tax announcement. Pearson has come a long way since it began selling off its crown jewels, including Madame Tussauds, investment bank Lazard and more recently the Financial Times and the Economist, with its stake in book publisher Penguin Random House the next on the block. ...
Barclays pulls FTSE 100 lower image
Source : BBC [Read Article] Friday 28th of April 2017 11:29:13 AM
....682bn, from £793m a year earlier. But analysts were disappointed by the performance of Barclays' investment bank, and the shares fell 5%. ...
Barclays chief admits he 'made a mistake' over whistleblowing case image
Source : Guardian [Read Article] Friday 28th of April 2017 08:27:59 AM
....The figures do not include a £884m accounting hit from the value of Barclays’ stake in its African business, which is in the process of being sold down under Staley’s plan to end its global ambitions and focus on the US and the UK. “We are now just two months away from completing the restructuring of Barclays as a transatlantic consumer, corporate and investment bank and there is further good reason in this quarter’s performance to feel optimistic for our prospects,” Staley said. ...
RBS reports first quarterly profit since 2015 image
Source : Guardian [Read Article] Friday 28th of April 2017 06:57:09 AM
.... The last time it turned quarterly profit was the third quarter of 2015. It warned that profits would be down in the next quarter, however, because of a slower start in its investment banking arm. ...
Barclays profits more than double image
Source : BBC [Read Article] Friday 28th of April 2017 06:36:15 AM
....Getting rid of Barclays chief executive Jes Staley would be bad for Barclays and bad for UK banking. That's the view of some current and former shareholders who tell me that not only would Barclays suffer if the US boss was pushed out during his so-far successful turnaround of the 360-year-old bank but also, weakening the UK's last major investment bank would be bad for the entire UK financial landscape. ...
Lloyds Bank's profits rise despite 'challenging' times image
Source : BBC [Read Article] Thursday 27th of April 2017 06:33:36 AM
.... The results pushed Lloyds' shares about 3% higher on Thursday. Lloyds does not have an investment bank and focuses instead on "plain and simple, vanilla banking", said Philip Augar, an author and banking expert. ...
Even Trump's Twitter binges aren't enough to make it worth $11bn | Nils Pratley image
.... And she agreed that there are benefits from being able to switch prescription medicines to the consumer category when patents expire. Neither argument is 100% convincing in itself, but both are more persuasive than a disruptive separation in which the only guaranteed winners would be investment bankers and lawyers. ...
Deutsche Bank: 4,000 jobs at risk of being moved out of UK after Brexit image
Source : Guardian [Read Article] Wednesday 26th of April 2017 06:03:42 PM
.... JP Morgan is considering buying office space in Dublin, and Citigroup has warned it may have to relocate “certain client-facing roles to the EU from the UK”. Goldman Sachs has warned that hundreds of roles could change, while HSBC could switch 1,000 investment banking jobs from London to Paris. ...
In the small print image
Source : BBC [Read Article] Wednesday 26th of April 2017 03:35:41 PM
....But the main way they say it will be paid for is through increased economic growth - this spurs tax revenue. Treasury Secretary Steve Mnuchin, a former investment banker, has said the tax changes will act as a stimulus that will lead to economic growth of 3% - much higher than most economic projections. ...
Obama criticised for '$400,000 Wall Street speech' image
Source : BBC [Read Article] Tuesday 25th of April 2017 09:15:09 PM
....". Mr Obama has reportedly agreed to be a keynote speaker at an event hosted by Cantor Fitzgerald LP, an investment bank that lost more than two-thirds of its staff in the attack on the World Trade Center on 11 September 2001. ...
Stock markets surge after French election result image
Source : Guardian [Read Article] Monday 24th of April 2017 09:34:27 AM
....53%. The result was seen as the most market-friendly outcome, putting the independent former investment banker in pole position to fend off the anti-EU Le Pen. ...
Morgan Stanley profits jump on bond trading growth image
Source : BBC [Read Article] Wednesday 19th of April 2017 12:27:31 PM
....4bn) for the three months against the same quarter last year. The gain came as investment banking and bond trading revenues jumped, and the bank was able to set aside less money for credit losses. ...
Goldman Sachs and Bank of America see profits jump image
Source : BBC [Read Article] Tuesday 18th of April 2017 11:54:29 AM
....Shares in Goldman Sachs fell more than 3% after the market opened. Goldman chief executive Lloyd Blankfein said: "The operating environment was mixed, with client activity challenged in certain market-making businesses and a more attractive backdrop for underwriting in our investment banking franchise. ...
Pound soars and FTSE 100 tumbles after election announcement image
Source : BBC [Read Article] Tuesday 18th of April 2017 07:58:19 AM
....The rise in sterling took it to its highest point for 10 weeks, although the pound still remains well below levels seen before the UK's Brexit vote last June. One of Europe's largest investment banks, Deutsche Bank, said the news of the forthcoming UK election meant it would not be so downbeat about the outlook for the UK and its currency. ...
Libor rigging: chancellor urged inquiry into Bank of England allegations image
....Del Missier told MPs on the Treasury select committee that he had issued the instruction after a conversation with his then boss, Diamond, in October 2008, when the financial system was on the brink. Diamond was then running Barclays Capital, the investment banking arm, before being promoted to chief executive. ...
UK technology firms turn to Silicon Valley to ward off Brexit blues image
Source : Guardian [Read Article] Thursday 13th of April 2017 06:00:19 AM
.... Sunderland, which is about as far removed as you can get from Silicon Valley, has the fastest-growing digital turnover in the UK behind London, according to Tech City UK. GP Bullhound, an investment bank, says the north now has 12 tech “unicorns” – that is, companies valued at more than $1bn – which is more than Sweden or Germany. ...
BBC to air recording that implicates Bank of England in Libor scandal image
Source : Guardian [Read Article] Monday 10th of April 2017 06:45:56 PM
....Del Missier told MPs on the Treasury select committee that he had issued the instruction after a conversation with his then boss, Diamond, in October 2008, when the financial system was on the brink. Diamond was then running Barclays Capital, the investment banking arm, before being promoted to chief executive. ...
Barclays boss used bank's security team to hunt for whistleblower image
Source : Guardian [Read Article] Monday 10th of April 2017 09:06:17 AM
....Born in Boston, Massachusetts, James Edward Staley, nicknamed “Jes”, studied economics at Bowdoin, a liberal arts and science college in Maine. He spent 30 years at Wall Street institution JP Morgan, enjoying a record of success that saw him promoted to chief executive of its investment banking arm in 2009. ...
The Guardian view on productivity: Britain must solve the puzzle | Editorial image
.... But, with labour cheap and plentiful, too many employers see no reason to invest. It is this ingrained tendency that best makes the case for a national investment bank: if the private sector won’t rise to the challenge, the state should step into the breach. ...
Bank of England orders financial firms to draft Brexit contingency plans image
.... He urged politicians not to give in to protectionism on banking rules but to keep an open financial system. Highlighting what he believes is at stake if Brexit results in the City being cut off from the rest of Europe, Carney sought to portray London as a key part of the global financial system and reiterated his earlier claim that “London is Europe’s investment banker”. ...
Brexit: Bank urges City to 'plan for all eventualities' image
Source : BBC [Read Article] Friday 7th of April 2017 09:19:58 AM
....Mr Carney said the two sides were "ideally positioned" to reach an agreement, because they currently have exactly the same bank regulations. He also underlined the importance of the City of London to the EU, saying it was "Europe's investment banker" and a "global public good". ...
Spotify may bypass IPO and list directly on stock market image
Source : BBC [Read Article] Friday 7th of April 2017 01:55:50 AM
....In general, IPOs can also cost a fair chunk of money, and, crucially for Spotify, they can take a lot of time to set up. An IPO needs an investment bank or banks to underwrite an issue of new stock. ...
Why BlackRock wants to pay George Osborne £650,000 a year | Nils Pratley image
.... And, while Fink preaches a gospel of long-termism and sustainability – a refreshing antidote to old-style Wall Street excess – BlackRock’s size means it is constantly in the midst of political and regulatory debates. BlackRock’s closeness to politicians has also come under the spotlight in the past, notably during the financial crisis of 2007-09, when the US administration turned to the firm for help in analysing and solving the meltdowns at investment bank Bear Stearns, giant insurer AIG and government-backed mortgage lenders Fannie Mae and Freddie Mac. ...
Deliveroo accused of 'creating vocabulary' to avoid calling couriers employees image
....”. Will Shu, the former investment banker who founded Deliveroo four years ago, told ITV News that he was not aware of the list of dos and don’ts, but said: “I feel that we’re providing high-paying flexible work to a large number of people. ...
Boardroom pay: Theresa May must act to curb the excesses | Nils Pratley image
Source : Guardian [Read Article] Wednesday 5th of April 2017 06:32:04 AM
....The mandatory publication of pay ratios would also encourage companies to take a wider view on pay and, since they have already the data, little extra work is required. The argument that pay ratios can be misleading (because an investment bank might appear to be a “fairer” employer than a supermarket) is a red herring. ...
Robbing Paula to pay Peter in the boardroom image
Source : Guardian [Read Article] Sunday 2nd of April 2017 05:59:46 AM
....It has been a while since the results of Panmure Gordon have caused much of a ripple in the City, but that was before we knew it was to be taken over by a consortium that includes former Barclays boss Bob Diamond. Once branded the “unacceptable face of banking” (Diamond, not Panmure) the American financier’s Atlas Merchant Capital is teaming up with QInvest, the Qatari investment bank, to acquire one of London’s oldest stockbroking firms. ...
London will remain Europe’s financial capital despite Brexit | Nils Pratley image
.... Some of this financial activity can take place almost anywhere in the world. If you’re a US investment bank in New York, it’s currently an easy call to hire your globally-focused staff on the home front. ...
No, wealth isn’t created at the top. It is merely devoured there | Rutger Bregman image
.... The typical workday of Goldman Sachs’ CEO may be worlds away from that of King Louis XIV, but their revenue models both essentially revolve around obtaining the biggest possible handouts. “The world’s most powerful investment bank,” wrote the journalist Matt Taibbi about Goldman Sachs, “is a great vampire squid wrapped around the face of humanity, relentlessly jamming its blood funnel into anything that smells like money. ...
Leading City firms begin to lay groundwork for London jobs exodus image
Source : Guardian [Read Article] Thursday 30th of March 2017 01:06:02 PM
....A growing number of leading City firms have revealed they are now laying the groundwork for an exodus of thousands of jobs from London after Britain’s vote to leave to EU. Just a day after Theresa May formally triggered the process for Brexit it was confirmed that the insurers Lloyd’s of London and Royal London are setting up subsidiaries outside the UK, while the investment banks JP Morgan and Citigroup are actively exploring the relocation of key operations. ...
WhatsApp leak lands ex-investment banker with £37,000 fine image
Source : Guardian [Read Article] Thursday 30th of March 2017 12:35:59 PM
. A former investment banker has been fined more than £37,000 for sharing confidential client information over the WhatsApp messaging service. ...
Lloyd's of London plans to open Brussels office by middle of 2018 image
Source : Guardian [Read Article] Thursday 30th of March 2017 07:04:46 AM
....AIG, the US insurance company, announced this month that it would set up a subsidiary in Luxembourg, where it currently has a branch. Goldman Sachs is to move move hundreds of bankers to Frankfurt and Paris, while HSBC wants to switch 1,000 investment banking jobs from London to the French capital. ...
Insurer Lloyd's of London confirms new Brussels subsidiary image
Source : BBC [Read Article] Thursday 30th of March 2017 06:28:20 AM
....Other financial institutions have also said they are thinking of moving some business within Europe. Several investment banks, including Bank of America, Barclays, and Morgan Stanley are considering relocating staff to Dublin. ...
Insurer Lloyd's of London 'to open Brussels office', say reports image
Source : BBC [Read Article] Wednesday 29th of March 2017 05:24:23 PM
.... Other financial institutions are also planning to relocate business within Europe. Several investment banks, including Bank of America, Barclays, and Morgan Stanley are considering relocating staff to Dublin. ...
Lloyd’s of London will move jobs to new Brussels office image
Source : Guardian [Read Article] Wednesday 29th of March 2017 05:21:41 PM
....”. Frankfurt is becoming the preferred destination for many investment banks looking to move staff from London. ...
Goldman Sachs to move hundreds of staff out of London due to Brexit image
Source : Guardian [Read Article] Tuesday 21st of March 2017 05:26:34 PM
.... Xavier Rolet, chief executive of the London Stock Exchange, has warned that 230,000 finance jobs could disappear while Mark Carney, governor of the bank of England, has played down the risks. He described the City as “Europe’s investment banker” and said European economies could be damaged if their access was disrupted after Britain leaves the EU. ...
Theresa May echoes Ed Miliband with promise to reform energy market image
Source : Guardian [Read Article] Friday 17th of March 2017 04:53:15 PM
.... “Under these proposals, energy firms would still be able to compete on price,” he said. Following the debate, analysts at investment bank Jefferies said it viewed government action as increasingly likely. ...
Osborne, an ‘editor of substance’. What substance, crystal meth? | Marina Hyde image
.... The former News of the World cover star and chancellor is the new editor of the London Evening Standard, a role he will combine with his jobs as MP for Tatton and being a £650,000-a-year escort for an investment fund. Osborne has now been a Tory chancellor, an investment banker and a newspaper journalist – a sequence whose next two terms are estate agent and serial sex killer. ...
Former Barclays chief Bob Diamond to buy Panmure Gordon image
Source : Guardian [Read Article] Friday 17th of March 2017 08:15:51 AM
....Bob Diamond, the former chief executive of Barclays, is staging a City comeback after agreeing to buy one of London’s oldest stockbroking firms. Diamond’s buyout vehicle, Atlas Merchant Capital, has teamed up with QInvest, the Qatari investment bank. ...
Bob Diamond in deal to buy stockbroker Panmure Gordon image
Source : BBC [Read Article] Friday 17th of March 2017 07:45:59 AM
. Bob Diamond has joined forces with the Qatari royal family to buy Panmure Gordon, the loss-making stockbroker and investment bank. ...
Student digs in Britain giving first-class returns image
Source : Guardian [Read Article] Thursday 16th of March 2017 03:40:59 PM
....One specialist developer of student accommodation laid on a golf day at a course just outside the resort town in the south of France to entertain wealthy prospective backers. While more traditional property assets have been hit by tax rises, more regulation and uncertainty surrounding Brexit, big investors including multinational investment banks and overseas pension funds have identified student housing as a goldmine that can generate big and predictable profits. ...
Ian and Greg Chappell call on Adani to abandon Carmichael mine project image
Source : Guardian [Read Article] Thursday 16th of March 2017 01:46:56 AM
....The Chappells, well-known through their sporting exploits in India where the Australian team is currently playing, joined 90 prominent Australians in the letter, which will be delivered to Adani’s head office on Thursday. Signatories include former Labor federal environment minister Peter Garrett; authors Richard Flanagan, Tim Winton and Helen Garner; Telstra chair John Mullen; investment banker Mark Burrows; and former Australian of the Year, Prof Fiona Stanley. ...
Charlotte Hogg image
Source : BBC [Read Article] Tuesday 14th of March 2017 01:51:01 PM
....Her maternal grandfather, John Boyd-Carpenter, was transport minister then minister of pensions and national insurance under both Anthony Eden and Harold Macmillan. Her brother, Quintin, works in the strategy unit of Barclays' investment bank. ...
Charlotte Hogg resigns as Bank of England deputy governor image
Source : BBC [Read Article] Tuesday 14th of March 2017 09:40:11 AM
....She would have had responsibility for markets and banking. Her brother Quintin works in the strategy unit of Barclays' investment bank. ...
Green Investment Bank sell-off racks up at least £1m in fees image
Source : Guardian [Read Article] Sunday 12th of March 2017 03:10:32 PM
....Ministers have promised that the sale of the bank, which has invested in green projects from offshore windfarms to energy-saving street lights, will deliver value for taxpayers’ money. An announcement on the sale to Australian investment bank Macquarie was expected in January but has yet to materialise amid strong political opposition. ...
Labour must learn to win if it wants to shape the UK's economic future image
.... Prisons are a volcano waiting to erupt, funding per pupil in schools is being cut, the NHS and social care are facing funding crises, and the police say repeated budget cuts mean crime will start rising. There is – and always has been – an alternative to all this, which involves rejecting austerity, an interventionist state, a fairer tax system that cracks down on abuse, a national investment bank, and greater workplace democracy. ...
Charlotte Hogg: a family tree deeply rooted in the British establishment image
.... Instead of politics, she chose a career in business. She started as a graduate trainee at the Bank of England, moving on to consultancy McKinsey and then investment bank Morgan Stanley. ...
Striver? Tory architect of austerity George Osborne banks £1m fortune image
....Osborne has made £786,450 giving 15 speeches since he was sacked as chancellor. Over two days in October he earned £141,752 for giving two speeches, lasting seven hours combined, to US investment bank JP Morgan, which also paid for his travel and accommodation. ...
RBS awards nearly £16m of bonuses in shares to nine top executives image
Source : Guardian [Read Article] Wednesday 8th of March 2017 06:57:42 PM
....The bonuses being awarded will not pay out before 2020. They shed light on the payouts to executives outside the boardroom, such as Chris Marks, the head of the investment banking operation, NatWest Markets, who was awarded shares of more than £2m. ...
BT's £1.2bn Champions League splurge is price of staying in Sky game image
.... Sky, meanwhile, has grown rapidly from one million customers in 2007 to more than 6 million now. “The package of rights as a whole are doing what the company wanted to do,” says Simon Weeden, head of European telecoms research at investment bank Citi. ...
Deutsche Bank shares hit by cash call image
Source : BBC [Read Article] Sunday 5th of March 2017 04:57:28 PM
....Deutsche will also partially float its asset management business and retain Postbank - the retail banking business that it had been expected to sell. The company will be reorganised around three divisions: private banking and wealth management; asset management; and corporate and investment banking. ...
Snap IPO: a 21st-century firm with a 19th-century structure image
Source : Guardian [Read Article] Thursday 2nd of March 2017 07:36:11 PM
.... Whatever that means, it should not involve a governance structure that belongs in the 19th century and would surely be cold-shouldered if attempted in the UK. Yes, US investment bankers will sell most things if the fee is large enough, but the willingness to trample on shareholders’ rights to this degree is breathtaking. ...
Cobham in cash call to tackle debt image
Source : BBC [Read Article] Thursday 2nd of March 2017 09:26:13 AM
.... . With the latest rights issue - which has been underwritten by a group of investment banks, meaning the company is sure to get the money even if investors decline to put more money in - the dividend has been scrapped. ...
Green Investment Bank: rival bidder launches legal challenge to sale image
Source : Guardian [Read Article] Wednesday 1st of March 2017 07:01:01 AM
. A last-ditch attempt has been made to derail the government’s controversial sale of the Green Investment Bank to the Australian investment bank Macquarie. ...
Hi-tech financial firms flee UK amid doubts over Brexit image
Source : Guardian [Read Article] Saturday 25th of February 2017 08:54:32 PM
....“I know of a couple of companies that have shelved their international expansion. I know one big US investment bank, someone I spoke to at a conference last week, and he said their plans are much more advanced than has been picked up on by the press. ...
Snapchat IPO: Evan Spiegel tries to sell investors on his top product – himself image
....Michael Pachter, WedBush analyst, compares the situation to the Twilight Zone episode It’s a Good Life, in which a town lives in fear of a six-year-old boy with godlike powers and the ability to banish residents if they ever say, do or think anything that offends him. “What is really going on is you have morally corrupt investment bankers who tell CEOs what they want to hear. ...

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