SVB UK Arm Issues 15 Million Pounds In Bonuses Following HSBC Buyout
The UK arm of Silicon Valley Bank handed out approximately 15 million pounds in bonuses days after it was bailed out by HSBC, Sky News reported on Saturday. According to several sources, the bonuses could have amounted to up to 20 million pounds.
Reports have...
Bank of London Considers Rescue Bid for SVB’s UK Arm
British clearing bank The Bank of London is considering launching a bid for the UK arm of Silicon Valley Bank, it was reported on Saturday. The UK bank has appointed investment bank Perella Weinberg Partners to advise it as it explores the feasibility of...
Sterling Set for Biggest One-Day Rally Since January
The British pound strengthened on Friday after the UK's economy was shown to have grown more than expected in January. The sterling was up 1.2% against the U.S. dollar at $1.2068; the biggest single-day jump since January 6. The euro was down 0.5% against...
Sterling Rises Amid Increasing British Business Activity
The sterling strengthened on Tuesday following the release of Britain's preliminary "flash" Purchasing Managers' Index. This data indicated a rise in British business activity, thereby indicating that the United Kingdom may be avoiding the effects of an impending deep recession.
Jumping from a score of...
Primark Sales Rise 15% in Christmas Period
Associated British Foods reported on Tuesday a 15% rise in sales for its Primark clothing business over the 16 weeks ending January 7. The food processing group attributed the sales boost to a busy Christmas period.
"To date, Primark trading has been good in all...
NatWest Shares Drop Following Underwhelming Quarterly Results
NatWest Group Plc achieved a lower-than-expected operating profit before tax of £1.086 billion for the third quarter, with the bank's Alison Rose commenting that the UK's economic outlook has worsened, thereby having an impact on consumer activity.
“We’re not seeing delinquencies, we’re not seeing customers...