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....Bitcoin is a fraud that will ultimately blow up, according to JP Morgan boss Jamie Dimon, who said the digital currency was only fit for use by drug dealers, murderers and people living in places such as North Korea. Speaking at a conference in New York, the boss of America’s biggest bank said he would fire “in a second” anyone at the investment bank found to be trading in bitcoin. ... [Read full article on Guardian ]
Wednesday 13th of September 2017 08:10:44 AM
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.... The same applies to the Thursday afternoon slots going back. Both – and many in between – are booked solid by investment bankers, corporate lawyers, accountants, consultants and PR advisers who appreciate the weekend comforts of the UAE, but who know the big business is to being done in Saudi Arabia. ... [Read full article on Guardian ]
Saturday 2nd of September 2017 03:00:17 PM
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. When the boss of Wall Street’s biggest bank calls a bubble, the world inevitably sits up and listens, albeit with a sense of historically weighted irony: of course an investment bank boss would spot disaster after his industry presided over the last one. ... [Read full article on Guardian ]
Sunday 17th of September 2017 05:59:33 AM
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....1bn) – increased their wealth. A further 22% reported no change to their wealth, according to a report by family office researchers Campden Wealth and Swiss investment bank UBS published on Tuesday. ... [Read full article on Guardian ]
Monday 11th of September 2017 11:01:19 PM
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....Vue has 212 sites in 10 countries, making it the sixth largest cinema operator in the world and the biggest outside the US. The cinema group, which has its headquarters in the UK, appointed investment banks Rothschild and JP Morgan earlier this summer to explore strategic options and is valued at up to £1. ... [Read full article on Guardian ]
Wednesday 13th of September 2017 05:00:03 AM
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....5% pay rise last year. Shu, a former investment banker who set up Deliveroo from his London flat in 2013, increased his salary to £125,000 and handed out close to £4. ... [Read full article on Guardian ]
Sunday 24th of September 2017 04:11:27 PM
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....5m on legal fees, partly because of the food delivery firm’s battle over pay and conditions for its thousands of couriers. Shu, a former investment banker who set up Deliveroo from his London flat in 2013, increased his salary to £124,999 and handed out close to £4. ... [Read full article on Guardian ]
Thursday 21st of September 2017 05:21:52 PM
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.... This is despite the economy posting its lowest levels of unemployment since the mid-1970s. Set against a backdrop of disappointing economic news, the sharp language used by the Bank this month to signal a potential hike in the “coming months” is surprising, according to analysts at the investment bank Goldman Sachs. ... [Read full article on Guardian ]
Tuesday 26th of September 2017 11:00:41 AM
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....But the value of Bitcoins came under pressure this week when Jamie Dimon, the chief executive of the biggest US bank, JP Morgan, warned that the digital currency was “a fraud” that would “eventually blow up”. Dimon said he would fire “in a second” anyone at the investment bank found to be trading in bitcoin. ... [Read full article on Guardian ]
Friday 15th of September 2017 04:52:30 PM
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....”. Saunders is one of eight members of the monetary policy committee, having joined last year from the investment bank Citigroup. ... [Read full article on Guardian ]
Thursday 31st of August 2017 08:05:11 AM
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Latest Finance News related to Investment Bank

Deliveroo valuation hits £1.5bn after food delivery firm raises new funds image
Source : Guardian [Read Article] Sunday 24th of September 2017 04:11:27 PM
....5% pay rise last year. Shu, a former investment banker who set up Deliveroo from his London flat in 2013, increased his salary to £125,000 and handed out close to £4. ...
Deliveroo boss Will Shu gives himself 22.5% rise amid battle over riders' pay image
Source : Guardian [Read Article] Thursday 21st of September 2017 05:21:52 PM
....5m on legal fees, partly because of the food delivery firm’s battle over pay and conditions for its thousands of couriers. Shu, a former investment banker who set up Deliveroo from his London flat in 2013, increased his salary to £124,999 and handed out close to £4. ...
Don’t dismiss bankers' predictions of a bitcoin bubble – they should know image
. When the boss of Wall Street’s biggest bank calls a bubble, the world inevitably sits up and listens, albeit with a sense of historically weighted irony: of course an investment bank boss would spot disaster after his industry presided over the last one. ...
Bitcoin value plummets after China orders trading in currency to cease image
Source : Guardian [Read Article] Friday 15th of September 2017 04:52:30 PM
....But the value of Bitcoins came under pressure this week when Jamie Dimon, the chief executive of the biggest US bank, JP Morgan, warned that the digital currency was “a fraud” that would “eventually blow up”. Dimon said he would fire “in a second” anyone at the investment bank found to be trading in bitcoin. ...
Bitcoin is a fraud that will blow up, says JP Morgan boss image
Source : Guardian [Read Article] Wednesday 13th of September 2017 08:10:44 AM
....Bitcoin is a fraud that will ultimately blow up, according to JP Morgan boss Jamie Dimon, who said the digital currency was only fit for use by drug dealers, murderers and people living in places such as North Korea. Speaking at a conference in New York, the boss of America’s biggest bank said he would fire “in a second” anyone at the investment bank found to be trading in bitcoin. ...
Ex-ITV chief Adam Crozier appointed as Vue International chair image
Source : Guardian [Read Article] Wednesday 13th of September 2017 05:00:03 AM
....Vue has 212 sites in 10 countries, making it the sixth largest cinema operator in the world and the biggest outside the US. The cinema group, which has its headquarters in the UK, appointed investment banks Rothschild and JP Morgan earlier this summer to explore strategic options and is valued at up to £1. ...
World's wealthiest families keep getting richer as markets boom image
Source : Guardian [Read Article] Monday 11th of September 2017 11:01:19 PM
....1bn) – increased their wealth. A further 22% reported no change to their wealth, according to a report by family office researchers Campden Wealth and Swiss investment bank UBS published on Tuesday. ...
The great Saudi sell-off: why bankers and lawyers are flocking to the Gulf image
Source : Guardian [Read Article] Saturday 2nd of September 2017 03:00:17 PM
.... The same applies to the Thursday afternoon slots going back. Both – and many in between – are booked solid by investment bankers, corporate lawyers, accountants, consultants and PR advisers who appreciate the weekend comforts of the UAE, but who know the big business is to being done in Saudi Arabia. ...
Bank of England policymaker urges interest rate rise image
Source : Guardian [Read Article] Thursday 31st of August 2017 08:05:11 AM
....”. Saunders is one of eight members of the monetary policy committee, having joined last year from the investment bank Citigroup. ...
Japan to seek Brexit reassurances from Theresa May image
Source : Guardian [Read Article] Saturday 26th of August 2017 08:00:45 PM
.... Companies such as Nissan and Hitachi have invested more than £40bn in the UK, and Japanese firms together employ a total of 140,000 people in the country. “Now that Japan is close to the final deal [on a free-trade agreement] with the EU, the Japanese government would want Britain to form a customs union with the EU so that Japanese businesses can maintain de facto single-market access,” said Takashi Miwa, chief economist for Japan at the investment bank Nomura. ...
Financial deregulation: will the US really go back to a pre-crisis free-for-all? | Howard Davies image
....The authors of the paper – which was signed by Mnuchin himself – want to reform the complex, incoherent and overlapping patchwork of regulatory agencies left in place since the crisis. Former Fed chair Paul Volcker, hardly a lobbyist for investment banks, has been making the same argument for some time. ...
Bell Pottinger faces sanction over claims it stirred racial tension in South Africa image
....Bell, who has previously represented the Pinochet Foundation, Syria’s first lady, Asma al-Assad, and the governments of Bahrain and Egypt, told the BBC that working for the Guptas was a “politically toxic contract” and warned that it could lose other clients. Bell Pottinger has lost some of its biggest clients, including the South African investment bank Investec, the South African tourism board, the London-listed, African-focused miner Acacia, and Richemont, the luxury goods company that owns Cartier and Montblanc and is controlled by the South African billionaire Johann Rupert. ...
UK is briefly in the black – but fixing the public finances will take time | Larry Elliott image
....45m bonus for 2010 pared back to £300,000. As tends to be par for the course, Daniels subsequently picked up a portfolio of new jobs: here a role with a boutique investment bank, there a non-executive directorship with a private equity firm. ...
Former Lloyds boss Eric Daniels sues bank for withheld bonuses image
Source : Guardian [Read Article] Tuesday 22nd of August 2017 11:22:18 AM
.... He was heavily criticised by the Treasury select committee in 2010 when it was revealed he did not know how many of his staff were paid more than him. Since leaving Lloyds, Daniels has taken on a string of jobs in the City, including at peer-to-peer lender Funding Circle, Mayfair-based investment bank StormHarbour and private equity firm CVC Capital Partners. ...
Holidaymakers urged to buy euros as pound set for PARITY against single currency image
Source : Daily Express [Read Article] Tuesday 15th of August 2017 03:25:00 PM
.... In some exchange bureaus Britons are already getting less than one euro for every pound. Morgan Stanley and HSBC are among the investment banks that forecast the euro will be worth more than the pound in 2018. ...
Bell Pottinger faces hearing over claims it stirred racial tension in South Africa image
.... He warned that it could lose other clients. Bell Pottinger has lost some of its biggest clients, including South African investment bank Investec, the South African tourism board, London-listed African-focused miner Acacia and Richemont, the luxury goods company that owns Cartier and Montblanc and which is controlled by South African billionaire Johann Rupert. ...
How the crash discredited the Anglo-US democratic model | Will Hutton image
Source : Guardian [Read Article] Saturday 12th of August 2017 11:05:01 PM
....Ten years ago this week, it became clear that the dread event – a run on one bank that will create a malevolent impact on others – was under way. A US investment bank had a few weeks earlier summarily closed some of its property-based hedge funds to stop a cascade of sellers; now a French bank was doing the same, as a panic about overblown property values infected confidence. ...
Sky faces paying extra £1.8bn for Premier League broadcast rights image
Source : Guardian [Read Article] Friday 11th of August 2017 04:10:07 PM
....8bn, or £600m annually, to keep Silicon Valley off the ball. “We expect Sky to pay 40% to 45% more in the next Premier League rights auction,” said Thomas Singlehurst, an analyst at investment bank Citi, who has rounded up his peers’ forecasts. ...
Brexit pain for holidaymakers as pound expected to fall further against euro image
. British holidaymakers should brace themselves for more Brexit pain when they change their pounds into euros, with a leading investment bank forecasting the currencies are on the way to parity. ...
For the first time ever I am defending banks. Here’s why | John Harris image
....Note also one particularly fascinating part of the story. Emmanuel Macron – either Europe’s great progressive hope or, depending on your view, a narcissistic schemer who fancies being the next Tony Blair – is a former investment banker. ...
Pilotless planes: what you need to know image
Source : Guardian [Read Article] Monday 7th of August 2017 02:54:35 PM
. Pilotless passenger aircraft could save the industry, and airline passengers, $35bn (£27bn) a year, according to investment bank UBS. ...
Air passengers wary of pilotless planes – even if they lead to lower fares image
....Pilotless planes would save airlines $35bn (£27bn) a year and could lead to substantial fare cuts – if passengers were able to stomach the idea of remote-controlled flying, according to new research. The savings for carriers could be huge, said investment bank UBS, even though it may take until the middle of the century for passengers to have enough confidence to board a pilotless plane. ...
RBS plans move to Amsterdam for post-Brexit EU hub image
Source : Guardian [Read Article] Friday 4th of August 2017 06:44:41 AM
....The bank signalled that more jobs could be cut on top of the 14,200 – about 15% of the workforce – which have gone in the last 12 months. These job losses reduced costs which helped boost profits, as did a better performance at its investment banking business, NatWest Market. ...
Don't relax rules on City after Brexit, Mark Carney warns image
Source : Guardian [Read Article] Thursday 3rd of August 2017 05:00:19 PM
....9tn a year, but that is dwarfed by the assets of the financial sector, which includes banks, pension funds and insurance companies. Carney has previously insisted the City has an important future role, despite Brexit, warning that European economies need to retain access to the City of London because the UK is the “investment banker for Europe”. ...
London’s reputation at risk from watering down City rules, IoD warns image
Source : Guardian [Read Article] Wednesday 2nd of August 2017 05:01:38 AM
.... The company could be valued at $2tn (£1. 5tn) in a move that would generate hundreds of millions of dollars in fees for investment bankers, lawyers and other advisers. ...
HSBC chief sounds alarm over financial regulation and Brexit image
Source : Guardian [Read Article] Monday 31st of July 2017 07:02:10 AM
.... HSBC also said it had moved 170,000 accounts to new sort codes to comply with the new ringfencing protocols, known as the Vickers rules, which come into force at the start of 2019. Implementing these rules, which ring-fence high street bank operations from riskier investment banks, has cost £500m and involved 2,000 staff. ...
Serco’s boss suffers through his wilderness years image
Source : Guardian [Read Article] Sunday 30th of July 2017 05:59:11 AM
....And yet HM government does not yet seem to have concluded that that assistance should be provided by Serco. As the group prepares to address the City at the group’s interim results this week, analysts at investment bank Jefferies reckon the firm has a “mixed bid pipeline” as “decisions are drifting in an unhelpful political environment”. ...
Leasehold tycoon: man whose firms control 40,000 UK homes image
Source : Guardian [Read Article] Saturday 29th of July 2017 07:00:44 AM
.... Tuttiett is the sole director of the company, which has no other employees. The financing of Tuttiett’s property empire is helped by low-interest loans totalling £336m made by an insurance company, Rothesay Life, spun out of Goldman Sachs, in which the US investment bank remains the largest shareholder. ...
Barclays sets aside extra £700m for PPI claims image
Source : Guardian [Read Article] Friday 28th of July 2017 07:25:34 AM
....” He also said the bank had signed a co-branded credit card deal with Uber. Overall profits at the corporate and investment banking arm were up 7%, but in the division’s bond trading operation profits fell 20% at time when rivals are also experiencing a slowdown. ...
'Disgusting and astonishing': how do the UK's top 1% view tax avoidance? image
....This respondent’s most recent full-time job was working for a hedge fund, making £450,000-£600,000 per year:. Whilst working for an investment bank that was part of a major UK bank, I was offered the choice to get paid via dividends from a Jersey-registered company but turned it down – which annoyed them, since they would have saved on employer’s national insurance. ...
Mike Ashley wins high court battle over '£15m pub deal' image
Source : Guardian [Read Article] Wednesday 26th of July 2017 09:30:42 AM
....Newcastle United owner and Sports Direct boss Mike Ashley has won a high court battle over a £15m deal allegedly made in a London pub, calling time on a case that will be long remembered for days of evidence concerning excessive alcohol consumption. The case revolved around investment banker Jeffrey Blue’s allegation that during a “night of heavy drinking” at the Horse and Groom pub near Sports Direct’s Oxford Street store in January 2013, Ashley agreed to pay him £15m if the company’s shares doubled to £8. ...
Greed is no longer good – bond boom comes to an end image
Source : Guardian [Read Article] Saturday 22nd of July 2017 07:00:32 AM
.... This week the firm reported profits had plunged 40% in the second quarter on its bond, currency and commodities trading desks. All the other big names in the US investment banking world saw bond trading profits dive in the three months to the end of June, save for age-old Goldman rival Morgan Stanley, which restricted the loss to 4%. ...
Banks and companies plan expansion in Frankfurt after Brexit image
Source : Guardian [Read Article] Friday 21st of July 2017 05:53:07 PM
....Lucia Puttrich, Europe minister in the government of the state of Hesse, told the Guardian she had been in talks with several banks about expanding their presence in Frankfurt or the Rhine-Main area. US investment bank Morgan Stanley is the latest to choose the German city as the site of its post-Brexit European hub, it emerged this week, following official announcements from seven other banks, including Goldman Sachs and Standard Chartered, that they will expand operations in Frankfurt. ...
Morgan Stanley picks Frankfurt as post-Brexit hub image
Source : Guardian [Read Article] Wednesday 19th of July 2017 04:11:56 PM
. US investment bank Morgan Stanley has chosen Frankfurt as the site of its post-Brexit EU hub in a move that could put 200 jobs in the City of London under threat. ...
Barclays bank and former bosses to stand trial in January 2019 image
Source : Guardian [Read Article] Monday 17th of July 2017 11:52:18 AM
.... Kalaris ran the bank’s wealth management arm. Jenkins is a former head of Middle East and north African investment banking and Boath is a former head of the bank’s European financial institutions group. ...
Governments have to invest in the fourth industrial revolution | Larry Elliott image
.... If, despite the lowest ever borrowing costs and repeated cuts in corporate taxation, the private sector won’t invest in the fourth industrial revolution, the public sector will. The argument for a national investment bank in the UK is that entrepreneurs are not actually very entrepreneurial and that opportunities are being squandered as a result. ...
Dublin is streets ahead of EU rivals as City firms plan for Brexit relocation image
....Although Frankfurt has already secured the EU bases of Japanese banks Nomura and Daiwa, Dublin appears to be a favourite for many City companies because of its historic links with London and the common language. “Dublin already has some of the back-office operations for some large investment banks and an asset management presence; it also has the benefit of being pretty close to London and of being English-speaking,” Ali, who compiled the EY report, said. ...
City regulator plans rule change to allow Saudi oil giant's $2tn float in London image
....The proposals by the Financial Conduct Authority come as Aramco weighs up which financial centre to pick for the sale of 5% of its shares. The company could be valued at $2tn – a huge price tag that would also generate hundreds of millions of dollars in fees for investment bankers, lawyers and other professional firms involved in stock market flotations. ...
Carillion has 'no future without rights issue of at least £500m' image
Source : Guardian [Read Article] Thursday 13th of July 2017 06:20:18 AM
.... The City now expects the company will need to raise double that figure just to survive. Sam Cullen, an analyst at investment bank Jefferies, said: “Realistically, we see no future for Carillion without a rights issue of at least £500m as we believe the group will find it increasingly difficult to win support services work with the balance sheet in its current state”. ...
Bank of England: pay figures will fuel raging interest rate debate image
Source : Guardian [Read Article] Sunday 9th of July 2017 09:10:15 AM
....After six years as chairman of Marks & Spencer, Robert Swannell will take to the podium at an AGM for the final time on Tuesday. The former investment banker will retire in September at a tumultuous time for the retailer. ...
Deadline looming for firms to give Brexit strategies to Bank image
Source : Guardian [Read Article] Saturday 8th of July 2017 03:00:11 PM
.... JP Morgan has indicated up to 1,000 London-based bankers will be relocated to Dublin, Frankfurt and Luxembourg, while Goldman Sachs – still constructing a new HQ in London – has said it will need more people in a number of EU centres, including Madrid, Milan and Paris. Deutsche Bank is reportedly considering moving large parts of its London trading and investment banking operations to its Frankfurt base. ...
France steps up effort to woo London banks planning Brexit move image
Source : Guardian [Read Article] Friday 7th of July 2017 02:05:15 PM
....The package of measures chime with promises by France’s new centrist president, Emmanuel Macron, to loosen the country’s labour laws and do away with red tape and high taxation. The early days of the former investment banker’s tenure have set a markedly different tone to his predecessor François Hollande, who once referred to the financial sector as the “enemy”. ...
Six new things we know about Mike Ashley image
Source : BBC [Read Article] Wednesday 5th of July 2017 08:12:56 PM
....It was a chance to hear about the business practices of one of Britain's most unusual self-made men, who built Sports Direct from a single shop into a multi-billion pound business. Jeffrey Blue, the investment banker who is suing Mr Ashley, claims that he promised to pay a £15m bonus if the share price doubled to £8. ...
Bank of England's Michael Saunders: 'Prepare for higher interest rates' image
....Saunders watched that August rate cut from home while on gardening leave. He had left his job at the investment bank Citigroup, where he had been an economist since 1990, after his appointment to the MPC was announced in April 2016. ...
£8bn battle looms for credit card processor Worldpay as rivals circle image
.... Rake’s other roles include chairman of BT, and he was previously deputy chairman of Barclays and president of the CBI business lobby group. During his time at Barclays, Rake was instrumental in ousting chief executive Antony Jenkins in July 2015, following a boardroom row over the future of Barclays’ investment banking business. ...
Ex-Barclays chief John Varley appears in court over fraud charges image
Source : Guardian [Read Article] Monday 3rd of July 2017 06:18:16 PM
.... Kalaris ran the wealth management arm of Barclays. Jenkins is a former head of Middle East and north African investment banking, and Boath is a former head of the bank’s European financial institutions group. ...
Mike Ashley vomited into fireplace at pub meeting, court told image
Source : Guardian [Read Article] Monday 3rd of July 2017 02:24:59 PM
....30pm with the gathering generally coming to a close between 1am and 3am. “Meetings were like no other senior management meeting I had ever attended in all my years of investment banking experience,” Blue said. ...
Mike Ashley 'vomited into fireplace at pub meeting' image
Source : BBC [Read Article] Monday 3rd of July 2017 01:58:14 PM
....Mr Blue said he had attended several senior management meetings at another pub, the Green Dragon in Alfreton, Derbyshire. He said: "These meetings were like no other senior management meeting I had ever attended in all my years of investment banking experience. ...
Deliveroo set to become a tech 'unicorn' as investors seek a slice image
Source : Guardian [Read Article] Sunday 2nd of July 2017 11:57:55 AM
....The $93bn (£71bn) SoftBank Vision Fund, which is backed by the state investment funds of Saudi Arabia and Abu Dhabi, as well as a host of technology firms including Apple and Japan’s Sharp, is said to be in the talks with Deliveroo, which wants to raise funds to finance expansion. Last year, Deliveroo raised $275m from investors, taking the amount of cash raised by the delivery app, which was founded by Will Shu, a former investment banker, close to $500m. ...
Labour MPs warn ministers against ‘grubby deal with Murdochs’ over Sky image
.... Fox already owns 39% of Sky. Thomas Singlehurst, a media analyst at investment bank Citigroup, said: “Ultimately we think the likelihood not only of deal completion, but on a reasonable timeframe – one to three months – has increased. ...
Co-op Bank secures £700m rescue deal from hedge funds image
Source : Guardian [Read Article] Wednesday 28th of June 2017 11:18:25 AM
.... Together, the five own 32% of the bank’s shares and 47% of the bonds which need to be swapped into the bank’s equity. The hedge funds said they had supported the turnaround of the bank since 2013 and this further investment would “provide the bank will the capital needed to realise its potential as the UK’s leading investment bank”. ...
RBS to cut hundreds of UK jobs in move to India image
Source : Guardian [Read Article] Sunday 25th of June 2017 03:48:43 PM
....”. The latest wave of job cuts by RBS in the UK comes after at least 400 roles were moved to India last year, including 300 or so investment banking jobs. ...
Trump could use alternate routes to roll back bank reforms image
Source : Guardian [Read Article] Sunday 25th of June 2017 11:00:28 AM
....Between the election and now, we have seen a narrowing and lessening of expectations regarding bank reforms. In Congress, meanwhile, Democrats and some Republicans, among them senators Elizabeth Warren and John McCain, are looking for ways to revive a version of the Glass-Steagall Act, the 80-year-old statute that kept investment banking and consumer lending separate until it was scrapped under Bill Clinton in 1999. ...
London could lose out as ECB seeks control of euro clearing after Brexit image
....The euro clearing issue is one of many competitive threats to the City in the wake of the Brexit vote. Europe’s pre-eminent financial centre is also battling to retain major investment banks – from Goldman Sachs to UBS – that are openly considering moving British-based operations to the EU. ...
Paul Myners: Barclays realised taxpayer bailout would hit bonuses image
Source : Guardian [Read Article] Tuesday 20th of June 2017 06:01:43 PM
....When a bonus cap was introduced by the European Union in 2013, limiting bonuses to one times salary or double if shareholders approved, the government refused to give the approval that would have allowed RBS to pay out more. The public anger sparked by the financial crisis forced greater disclosure from banks about the way they paid their top staff, particularly banks like Barclays that have large investment banking operations. ...
Barclays: who are the four charged bankers? image
Source : Guardian [Read Article] Tuesday 20th of June 2017 02:17:46 PM
.... He was the first bank boss to apologise during the financial crisis, and was proud of steering Barclays through the crisis without need for a government bailout. Having graduated from Oxford with a first class degree in history, Varley started out as a solicitor before joining Barclays in 1982 to help set up its investment banking operation. ...
Qatar and the UK image
Source : BBC [Read Article] Friday 9th of June 2017 04:51:11 AM
.... . Earlier this year, it made what it called a "joint bid" with Atlas Merchant Capital - the private equity firm of former Barclays boss Bob Diamond - to "take Panmure Gordon private and reposition the company as a key boutique investment bank in the UK market". ...
China trade healthier than expected image
Source : BBC [Read Article] Thursday 8th of June 2017 08:22:28 AM
....However, many analysts warn that China's growth is likely to slow gradually in coming quarters. "Today's trade data surprised on the upside, but has not changed our overall view that real GDP growth likely peaked in the first quarter," investment bank Nomura said in a report. ...
Aramco: London listing inappropriate, says Royal London image
Source : BBC [Read Article] Thursday 8th of June 2017 08:18:50 AM
...."It would be highly inappropriate for us to be bending listing rules and bending benchmark rules to accommodate this one large company," she told the BBC's Today programme. "There's lots of money to be made for investment bankers and advisers, but very little protection for pension savers and that's something we really need to keep at the heart of this situation. ...
London Stock Exchange shouldn't bend rules for $2tn Saudi flotation | Nils Pratley image
. Roll up, roll up, who wants some lovely Saudi dosh that would arrive with a stock market listing in London of Saudi Aramco, the enormous state-owned national oil company? Almost every investment banker and corporate lawyer in town, obviously. ...
WPP needs a big name to follow Sir Martin Sorrell image
Source : Guardian [Read Article] Sunday 4th of June 2017 06:00:16 AM
.... You know the ones: the (hypothetical) float of KGB Mining where the founder, Vladimir Takyorneekapov, still owns 80% of the shares. Huge investment banks once made fortunes from such floats: they calmed investor nerves by (perhaps) taking some risk themselves and parking Takyorneekapov’s stake on their own balance sheet. ...
Nomura admits part in Goldman Venezuelan bond deal image
Source : BBC [Read Article] Thursday 1st of June 2017 08:32:58 AM
. A Japanese investment bank has admitted it was part of a controversial deal with Goldman Sachs to buy Venezuelan government bonds. ...
Venezuela opposition condemns Goldman Sachs debt deal image
Source : BBC [Read Article] Tuesday 30th of May 2017 10:33:46 PM
. Opposition leaders in Venezuela have strongly criticised the investment bank Goldman Sachs for buying $2. ...
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. ...

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