News

Don’t cry for Aberdeen Asset Management but Argentina’s currency issues sent it falling yesterday.

UBS first-quarter profits halved

UBS, the banking giant still reeling from an extraordinary rogue trading scandal, recorded another tumble in profits yesterday and said it was cautious about global markets.

Market Report: Hopes the tough times are over see Weir on the rise

Is there light at the end of the tunnel for Weir Group? Events across the Atlantic have been knocking the pump manufacturer recently, prompting the stock to drop by around 25 per cent in just two months. Yesterday, however, the firm was attempting a rally amid claims the run of bad news is drawing to a close.

Market Report: Kesa feels pressure to pull plug on Italian division

Could it be time for Kesa Electricals to bid arrivederci to Italy? Having recently managed to exit the UK by selling its struggling Comet chain for the nominal price of £2, yesterday the retailer was under pressure to get out of another European country.

Market Report: Royal Bank of Scotland sent higher by bullish talk

George Osborne may want to hold off taking Stephen Hester's advice any time soon. The Royal Bank of Scotland (RBS) boss was piling the pressure on the Government earlier in the week to start selling down its stake in the bank, but yesterday the group closed near the top of the Footsie on claims the next year or two will see its share price soar.

Market Report: Capita loses its bounce after worries over margins

Punters may have been flocking back to Capita recently, but last night the brakes were put on the outsourcing giant's rally. The group – which had managed to add nearly 19 per cent over the previous six sessions – was left in the red after City scribblers warned there were still causes for concern.

Market Report: M&S up on talk Bolland's plan may make its Marc

It has been 15 months since Marc Bolland unveiled his three-year plan for Marks & Spencer and – judging by the market's reaction – investors have hardly been blown away. Since the boss of the high street institution, who had started the job just six months earlier, announced an ambitious, £900m investment program in November 2010, its share price has dropped more than 10 per cent.

British Land keeps soaring as its rivals struggle

British Land has opened the gap in London's skyscraper race as it forges ahead with its £1.1bn development programme in the capital, its chief executive, Chris Grigg, said yesterday.

UBS chief gives up bonus after London 'fraud'

Carsten Kengeter, head of investment banking at UBS, has given up his bonus for last year after the Swiss bank lost more than $2bn (£1.3bn) following alleged fraud by the London trader Kweku Adoboli.

Market Report: Footsie ends on a high but Cairn Energy misses out

It may have been boom time in the Square Mile, but not everyone was along for the ride. While the Footsie closed last night at its highest since last July, Cairn Energy was among the stocks missing out on the rally amid fears the oil explorer is about to come under sustained pressure.

Glaxo adds to gloom at RBS

Pharmaceuticals blue-chip GlaxoSmithKline (GSK) has replaced Hoare Govett as one of its brokers, putting more pressure on the Royal Bank of Scotland's corporate broking arm.

Morgan Stanley to axe 1,600 jobs

Morgan Stanley, one of London's biggest investment banking employers, is to axe 1,600 staff around the world in the first quarter of next year, it announced yesterday.

Occupy protesters hang banners from an empty office block owned by UBS bank building in London

Occupy protesters take over UBS building

Economic justice campaigners who have been camped outside St Paul's Cathedral for weeks announced today that they have occupied an abandoned office block owned by investment bank UBS.

UBS executive John Pottage challenges watchdog's £100,000 fine

The first City boss to be fined for failings by his subordinates is challenging what his employer UBS describes as an “unwarranted” £100,000 penalty issued by the City watchdog in what is being seen as test case before an independent tribunal.

UBS unveils surge in assets as rich return

UBS announced a surge of new money from rich clients at its wealth management arm yesterday as the Swiss giant's core business continued its recovery from the financial crisis.

UBS receives writs over Libor rates

UBS has received subpoenas from US and Japanese regulators over whether it made "improper attempts" to manipulate Libor rates, the benchmark international price for inter-bank borrowing published by the British Bankers' Association.

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Prices correct as of 20 February 2015
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