Investec shareholders protest reappointment of auditors KPMG and EY August 9, 2019 Shareholders at Investec have protested against the reappointment of the group’s auditors at its annual general meeting, which also saw protest votes about directors’ remuneration Just over a fifth (20.1 per cent) of votes cast by shareholders opposed the reappointment of KPMG as joint auditor of Johannesburg-listed Investec Ltd, while 16.6 per cent voted against [...]
Malaysia charges 17 current and former Goldman Sachs staff in 1MDB fund fraud case August 9, 2019 Malaysia has charged 17 current and former Goldman Sachs directors and in a corruption investigation into the state fund 1MDB. “Custodial sentences and criminal fines will be sought against the accused in the Section 367 Charges, given the severity of the scheme to defraud and fraudulent misappropriation of billions in bond proceeds,” Malaysia attorney general [...]
Independent central banks are under threat once more August 9, 2019 Being just a couple of decades old, the widespread adoption of independent central banks is relatively new to the world. Yet this is a role which now needs to adapt to a world whose politics is changing very fast. Different inflation objectives and tools have been discussed plenty of times before, but as the objectives [...]
Top investment bank fees slide across the board in 2019 amid deals slowdown in Europe and US August 9, 2019 Fees at all but one of the world’s 20 largest investment banks tumbled in the first half of 2019, as fewer mergers in Europe and a global slowdown in initial public offerings (IPO) dented corporate pay cheques. Europe’s investment banks earned a combined $13.3bn (£11bn) worth of fees in the first half of 2019, plunging [...]
Going for broke(rs): Student takes job hunt to Moorgate station for his big break in finance August 8, 2019 A university student trying to get his start in London’s financial district took matters into his own hands this week when he spent 11 hours stood outside Moorgate station holding a placard asking the capital’s brokers to give him a chance. “It’s not where I’m coming from, it’s where I’m going,” read Imperial College London [...]
Trio of ex-Barclays execs facing October trial over Qatar financial crisis fundraisings August 8, 2019 Three senior former Barclays executives are set to face a criminal trial in October on charges relating to their involvement in Qatar’s participation in an emergency fundraising at the height of the financial crisis. Barclays’ former investment head for the Middle East and north Africa Roger Jenkins, former wealth management boss Tom Kalaris and former [...]
World bond market sets quarterly record after boom in first-half activity August 8, 2019 The world’s green bond market hit a record quarterly high in the last three months, as investor appetite in environmental assets picked up pace. Issuers brought $66.6bn (£54.8bn) of green bonds to market globally in the second quarter of 2019, propelling issuance in the first half of the year and shattering records. Read more: Climate [...]
London will retain financial firepower even in ‘worst possible’ Brexit, says Central Bank of Ireland August 8, 2019 London is likely to remain a leading global financial centre even in the most adverse Brexit scenarios, the Central Bank of Ireland has concluded in a new report. The EU-based Central Bank has said that even in the worst possible outcome of Britain’s departure from the EU, the impact on the capital’s financial and related professional [...]
Burford Capital share price surges as it blasts shortseller Muddy Waters August 8, 2019 Burford Capital has strongly retaliated against the accusations made by Muddy Waters, accusing the shortseller of “fallacious insinuations” and “inflammatory rhetoric”. In a strongly-worded statement issued to investors, Burford denounced Muddy Waters’ report into the company as “baseless”, saying it contained “many factual inaccuracies, simple analytical errors and selective use of information”. The company also [...]
New head of global commercial banking at HSBC after top-level reshuffle August 8, 2019 HSBC has promoted Barry O’Byrne to head up the lender’s global commercial banking arm as its previous boss takes the reins as interim chief executive of the company. Read more: Co-op bank narrows losses O’Byrne is taking on the interim role as part of a top-level reshuffle that involved Noel Quinn, HSBC’s former chief executive [...]