FTSE 100 roundup: Today’s winners and losers November 16, 2018 The FTSE 100 lost ground today, down 5.31 points at 7,032.70 just before markets closed after a turbulent start to the day when it lost as much as 0.8 per cent. All week markets have been reacting to the political fallout from Brexit as the FTSE 100 wiped out gains made late last week. Top 5 FTSE [...]
Kleinman: Beat Barxit? Jes he can – for now November 16, 2018 Come again? The fawning of business leaders who dialled into a conference call with the chancellor and business secretary after Theresa May’s Brexit deal announcement on Tuesday was stunning in its obsequiousness. Particularly odd was Sir Gerry Grimstone who – sitting alongside fellow Barclays board members John McFarlane and Sir Ian Cheshire – took it [...]
Chewing the cud: Vegan startup Beyond Meat introduces plant-based burger to UK November 13, 2018 US plant-based food company Beyond Meat yesterday moved into the UK, bringing its vegan burgers to British supermarkets and restaurants. The Los Angeles-based business produces the plant-based Beyond Burger, which it says replicates the texture of meat while providing added nutritional benefits. The Beyond Burger went on sale yesterday at 350 Tesco branches across the country. [...]
Pilfered pens and fudged expenses could foreshadow an ethics scandal October 18, 2018 Are UK employees the least ethical in Europe? The Institute of Business Ethics’ 2018 Ethics at Work Survey seems to indicate so. Brits appear to take a more lenient approach than the average European employee to questionable workplace practices. We asked employees about their attitudes to ethical issues in the workplace, ethical practices in their [...]
UBS veteran James Palmer appointed EMEA investment bank vice chairman October 17, 2018 UBS veteran James Palmer has been appointed vice chairman of EMEA investment banking and capital markets at Credit Suisse. Palmer will be based in the Swiss banking giant's London office and focus on revenue generation across all product groups, according to an internal memo seen by City A.M. and confirmed by a company spokesperson. Read more: [...]
Lyft onboards JP Morgan, Credit Suisse and Jefferies to lead its IPO October 17, 2018 US ride-hailing firm Lyft has hired JP Morgan, Credit Suisse and Jefferies as underwriters for its upcoming initial public offering (IPO), slated for an early 2019 debut. A source familiar with the matter told Reuters late last night that the three banks have been brought on board to lead the listing, after Morgan Stanley and Goldman [...]
Supermarket chain announces $300m London float plans in first overseas Belarusian listing October 11, 2018 Grocery chain Eurotorg today announced plans to float on the London Stock Exchange in what would be a first overseas listing for a Belarusian business. Eurotorg is the largest grocery chain in Belarus with a market share of approximately 19 per cent of the food retail market. The float will mark the first overseas listing [...]
Credit Suisse blasted by Swiss watchdog for corruption failings September 17, 2018 Credit Suisse has been slammed by the Swiss banking watchdog for “deficiencies” in its anti-money laundering procedures in connection with suspected corruption at football body FIFA. Swiss Financial Market Supervisory Authority (Finma) said today it had concluded two enforcement procedures against the bank. The first uncovered “deficiencies in the bank’s adherence to anti-money laundering due [...]
Tidjane Thiam points Credit Suisse to private banking as profits jump July 23, 2015 Credit Suisse’s new chief executive Tidjane Thiam said yesterday that the bank would place greater emphasis on private banking and wealth management after it comfortably beat market expectations in the second quarter. “We want to rebalance towards private banking and wealth management… as opposed to the investment bank,” Thiam told CNBC. Switzerland’s second biggest bank [...]
Banks in scramble for Barclays’ coveted broking ticket as Deutsche and Credit Suisse invited to re-pitch May 27, 2015 Barclays, the international London-based bank led by Antony Jenkins, has decided to put its broking mandate up for review after four years. The group is currently served by Deutsche and Credit Suisse as joint brokers. A source close to the bank, which is valued at around £45bn, said yesterday the decision to look for new [...]