Barclays appoints KPMG as new auditor, replaces PwC
3rd Jul 2015 14:07
Barclays said on Friday that it will appoint KPMG as its auditor for the year ending 31 December 2017, ending its 119-year audit relationship with PwC. The announcement follows a competitive tender process that PwC was not invited to take part in after Britain's competition watchdog said big compani
Read moreFTSE 100 movers: RBS hit by mortgage bond allegations, Vodafone by ML note
3rd Jul 2015 13:34
UK stocks inched lower on Friday, as investors continued to fret in the run up to Sunday's Greek referendum. As of 14:30 BST, the FTSE 100 was trading 0.5% lower at 6,595, led by Vodafone after a negative note on the telecoms giant by Merrill Lynch, which told clients it felt the stock's recovery re
Read moreBarclays starts Jimmy Choo at 'overweight', strong growth seen
2nd Jul 2015 09:03
Shares in the fashion retailer Jimmy Choo rose on Thursday after Barclays initiated coverage with an 'overweight' recommendation and a price target of 208p on expectations for stronger growth than its sector peers. Barclays predicted earnings per share would grow at an average pace of 14% over the n
Read moreFTSE 100 movers: Travel and banking stocks surge, miners decline
1st Jul 2015 13:05
London markets were buoyed by strength in the travel and banking sectors, which offset weakness in mining and oil stocks. As of 14:30 BST, the FTSE 100 was trading 1.5% higher at 6,617. Travel and leisure stocks including Easyjet, IAG, TUI and IHG rebounded after a recent sell-off. The sector had b
Read moreLondon close: FTSE sinks to five-month low as final act of Greek drama unfolds
29th Jun 2015 16:54
Heavy falls in the travel, tourism and financial sectors prompted a 2% plunge on the FTSE 100 on Monday as investor sentiment was hammered by concerns about the future of Greece and the wider Eurozone. The FTSE 100 finished 133.22 points lower (-1.97%) at 6,620.48 by the end of the session, its lowe
Read moreMonday newspaper round-up: Greece, UK banks, Samsung Bioepis
29th Jun 2015 06:46
Greece has temporarily shut down its banks and suspended trading on its stock market after the collapse of talks between Athens and its lenders and the ECB's decision to freeze life support for Greek banks, reports The Telegraph. An annual survey of the world's top 1,000 banks by The Banker has show
Read moreBarclays and Lloyds merit multiple expansion, Morgan Stanley says
25th Jun 2015 15:31
European Banks are undervalued as their risk profile and cost of equity have fallen sharply, one of the world's largest brokers said on Thursday. Lenders' move to de-lever has seen their beta, the most widely accepted measure of an investment's riskiness in comparison to the wider market, "fall dram
Read moreBarclays appoints new non executive director
25th Jun 2015 09:51
Diane Schueneman has been appointed as a non-executive director of Barclays, the banking giant said on Thursday. Schueneman, who has spent 37 years at Merrill Lynch covering a number of roles, including that of senior vice president and head of global infrastructure solutions, is currently a non-exe
Read moreBarclays reportedly hires JPMorgan Cazenove in broking shake-up
24th Jun 2015 13:28
Barclays is reportedly drafting in JPMorgan Cazenove to help steer it through an intensive period of restructuring to improve its performance. According to Sky News, Barclays has in recent days appointed the Wall Street bank as its corporate broker, alongside Deutsche Bank, an incumbent. JPMorgan w
Read moreLondon close: Stocks cut gains after Greek talks stall
11th Jun 2015 16:46
Stocks managed to hold on to their gains at the end of the session despite news the International Monetary Fund had pulled the technical team which was negotiating with Athens in Brussels. RBS was among the best performers in London after the government announced plans to sell down its stake, while
Read moreLondon midday: Stocks edge higher ahead of Osborne's speech
10th Jun 2015 11:45
UK stocks reversed earlier losses and edged forward on Wednesday, as traders waited on the Chancellor's Mansion House speech. Industrial output in the UK sped past forecasts in April, thanks to a strong contribution from mining. Production grew by 0.4% month-on-month, as an 8.7% surge in oil and ga
Read moreRBS, Barclays among banks downgraded by S&P
10th Jun 2015 08:53
Ratings agency Standard & Poor's downgraded a number of UK and German banks including Barclays, Royal Bank of Scotland, Deutsche Bank and Commerzbank, saying it was uncertain whether their respective governments would bail them out if they ran into difficulties. "We now consider the prospect that th
Read moreLondon pre-open: Footsie to start lower as transport sector weighs on Wall Street
10th Jun 2015 07:49
The FTSE 100 is expected to start the session between 5 to 12 points lower from Tuesday's close of 6,753.80 points. That follows a flat close on Wall Street overnight. The Dow Jones Industrials finished in negative territory for the year as the Dow Jones Transports closed at year-to-date lows, weigh
Read moreWednesday newspaper round-up: Referendum, Bank levy, Mansion House
10th Jun 2015 07:11
The Government should hold a referendum on Britain's EU membership as soon as possible to end the uncertainty that the looming vote creates for businesses, according to one of the world's leading bond investors. The Pacific Investment Management Company (Pimco) said it was important for the UK to ge
Read moreStifel to buy Barclays US wealth business
8th Jun 2015 13:41
Stifel Financial Corp announced on Monday that it has entered into a deal to buy Barclays' wealth and investment management fanchise in the Americas for an undisclosed sum. As of 31 May, Barclays' advisory business - concentrated in New York and 11 other major metropolitan cities in the US - had abo
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