Watchdog SEC set to hit Credit Suisse with new charges of inflated asset reports December 7, 2015 The US Securities and Exchange Commission (SEC) is gearing up to file charges against Credit Suisse, the Financial Times reports. The watchdog is accusing the Swiss private bank of inflating reports of assets under management, sources have told the newspaper. The SEC will accuse the bank of wrongly having counted client assets in the Americas [...]
City law firm GQ Employment Law acquires smaller rival Camfords December 7, 2015 City law firm GQ Employment Law has snapped up a smaller boutique rival Camfords for an undisclosed sum, the pair announced today. Founded in 2010 by former Clyde & Co lawyer Richard Harvey, Camfords advises domestic and multi-national businesses and high-net worth individuals across a number of industry sectors including insurance, technology and luxury goods [...]
Smart Beta tops Investopedia’s list of 2015 finance buzzwords December 7, 2015 Investopedia, the wikipedia of finance, added 672 terms to its site in 2015. The list partly a reflection of the financial trends that took 2015 by storm including, Unicorns such as Uber and Snapchat, the renewed fear that Greece would ditch the euro, and the popularity of Fintech. Here's Investopedia's top 10: 10. Backdoor Roth IRA An [...]
At the close: FTSE 100 index closes down on oil companies December 7, 2015 The FTSE 100 index closed down today as oil companies were hit after the Organisation of Petroleum Exporting Countries failed to agree to curb production. Opec failed to agree on curbing production despite a global supply glut and the strength of the dollar, which is leading to the collapse of oil prices, with the resulting uncertainty [...]
Barclays online banking services crashed again December 7, 2015 Barclays online banking services crashed today, leaving the bank’s customers unable to access their mobile and online accounts for the second time in weeks. Around midday, Barclays customers complained on Twitter that they were locked out of their banking services with the bank, unable to make payments or transfer money. This is the latest in [...]
Sentix: Investors optimistic on Eurozone growth despite Draghi disappointment December 7, 2015 Investors are backing the Eurozone economy to pick up the pace over the next six months, according to new survey figures published today. The Sentix economic index for the Eurozone, compiled from a survey of over 1,000 investors, climbed 0.6 points to a score 15.7. The rise in sentiment on the Eurozone’s growth prospects comes despite investors [...]
US hotelier Highgate beds down in London as Shoreditch hotel plans win approval December 7, 2015 One of New York’s biggest hotel operators is making its first move into the London market after winning planning consent for a site on Shoreditch High Street. Highgate Holdings, which owns the Knickerbocker on New York’s Times Square, is planning a 319,000 square foot, mixed-used scheme at 201-207 Shoreditch High Street that rises to 30 [...]
National Australia Bank (NAB) reveals new details about Clydesdale Bank IPO set for February of next year December 7, 2015 National Australia Bank (NAB) has today unveiled new details about its planned spinoff of Clydesdale Bank, saying that the demerger and initial public offering (IPO) of the British business is set to go ahead next February. NAB intends to sell 25 per cent of Clydesdale to new investors in the IPO, while giving the remaining 75 [...]
More proof the Help to Buy Isa is pointless for first-time buyers in London? December 7, 2015 The Help to Buy Isa is the government's latest wizard wheeze to help first-time buyers onto the property ladder: under the scheme, they receive a £50 government "bonus" for every £200 they spend. But the launch of the scheme, at the beginning of this month, hasn't gone down quite as well as you might expect. [...]
Toshiba could face record-breaking fine of 7.37bn yen (£40m) following false statements about its profits December 7, 2015 Japanese technology giant Toshiba could be slapped with a fine of 7.37bn yen (£40m) for false statements about its profits. The Securities and Exchange Surveillance Commission (SESC) today made a recommendation for the fine to the Financial Services Agency (FSA). The accounting scandal first came to light in April when questions were raised around the [...]
