International Airlines Group and LATAM Airlines Group sign deal to make flying to South America easier January 14, 2016 International Airlines Group (IAG) has signed a joint agreement between its subsidiaries British Airways and Iberia and LATAM Airlines Group to make flights between Europe and South America easier. If they receive regulatory approval, the airlines plan to expand their codeshare agreements, which allow airlines to operate flights on another airline's routes. It allows firms to offer better [...]
Goldman Sachs agrees to pay $15m over improper securities lending practices January 14, 2016 Investment banking giant Goldman Sachs has agreed a $15m (£10m) settlement with US regulators over charges that its securities lending practices broke regulations. The Securities and Exchange Commission (SEC) said broker-dealers such as Goldman Sachs are regularly asked by customers to locate stock for short selling – a process where an asset is borrowed, sold, and [...]
Standard Chartered garners a rare analyst “buy” rating January 14, 2016 Analysts at Berenberg have upgraded their recommendation on troubled emerging markets focused bank Standard Chartered to “buy”, due to a strategy switch to return and risk. Standard Chartered has previously focused on growth alongside fast growing emerging markets. General analyst consensus has been moving against Standard Chartered in recent months, with the latest survey of [...]
Greece accepts IMF role in bailout programme as Eurogroup takes stock of progress January 14, 2016 The Greek government has accepted that the International Monetary Fund (IMF) will be part of its new bailout. Prior to a Eurogroup meeting – a meeting of Eurozone finance ministers – Dutch finance minister Jeroen Dijsselbloem told reporters that his Greek counterpart Euclid Tsakalotos "confirmed to me that the Greek government accepts that the IMF needs to be part [...]
European markets dragged down by car makers January 14, 2016 European stock markets lost more ground today. The German Dax closed down 1.67 per cent, lead by a 2.5 per cent drop in Volkswagen shares. It was the lowest close for the main German index since October last year. The French Cac 40 fell 1.8 per cent, with Renault and Peugeot among the top three fallers. [...]
M&C Saatchi share price closes down as management team eyes sale of advertising agency January 14, 2016 M&C Saatchi today revealed that it was in talks to sell a 30 per cent stake in its UK advertising agency, M&C Saatchi UK, to five members of its management team. In a short statement, the company revealed that the five potential purchasers are the advertising agency’s chairman Tim Duffy, chief executive Tom Bazeley, creative [...]
Twitter share price plummets to fresh low for third day in a row as lawsuit claims Twitter helped Isis terrorists January 14, 2016 Twitter shares have hit fresh all-time lows for a third day in a row, plummeting as much as seven per cent in early trading in New York. After touching $18.57 on Wednesday, shares today touched $17.27, the lowest they have ever traded at. They have closed down on every day of 2016 after sliding more than 30 [...]
European Central Bank minutes reveal strong split on decision to boost stimulus January 14, 2016 European Central Bank (ECB) officials were divided on the decision to boost stimulus measures in their December meeting, details of the decision published today reveal. The minutes of the meeting revealed some members of the governing council thought the recovery was well underway and that further easing would come with negative side effects. On the day, [...]
Oil prices: The £36bn Royal Dutch Shell-BG Group mega-deal has won more support ahead of crucial vote January 14, 2016 Another investor advisory firm has come out in favour of Royal Dutch Shell's £36bn mega-deal with smaller rival BG Group, which goes to a shareholder vote at the end of this month. British shareholder advisory firm PIRC has advised shareholders to vote in favour of the deal. It comes after Institutional Shareholder Services, a proxy advisory body, recommended [...]
Financial services industry loses confidence in the UK’s economic outlook, as Brexit, debt and austerity weigh heavily on people’s minds January 14, 2016 The financial services industry’s level of confidence in the UK’s economic outlook has dropped off. In a survey released today by the Chartered Institute for Securities & Investment (CISI), 33 per cent said they felt more optimistic about the UK’s outlook compared to six months ago while 27 per cent said they felt more negative, [...]
