• A sustainable future requires us to look beyond the ESG rating Link via @FinancialNews
    Financial News Sun 20 Sep 2020 19:41

    Over the summer, fashion brands group Boohoo found itself at the centre of a scandal. The company’s share price dropped 42% over three days in early July when reports surfaced that its suppliers in Leicester were paying below minimum wage to garment-makers.

    Yet the company was rated highly by many ESG rating agencies — an ESG rating aggregator, CSRHub, shows that Boohoo rates better than 70% of over 20,000 companies worldwide.

    While...

  • Blackstone exec predicts ‘lost decade’ for equity returns Link via @FinancialNews
    Financial News Sun 20 Sep 2020 17:41

    US investment firm Blackstone’s executive vice-chair Tony James said that companies and investors could suffer a “lost decade” for equity returns as governments around the world grapple with the economic fallout from the first wave of the Covid-19 pandemic.

    “All of that will be economic headwinds for companies,” said James, referring to higher taxes, an increase in operating costs, less efficient supply chains and “deglobalisation” that will hurt productivity following the spread of the virus and governments’ measures to contain it. James was speaking to CNBC at the virtual Singapore Summit on 16 September.

  • For banks, the Covid energy slump shows the urgency of climate risk Link via @FinancialNews
    Financial News Sun 20 Sep 2020 16:16

    The energy-market collapse this spring offered a glimpse into the massive risks sitting inside bank loan portfolios. Around the world, bankers watched in shock as oil prices went negative for the first time in history and once-thriving companies suddenly teetered on the brink.

    Fortunately for banks and their shareholders, prices soon staged a partial recovery, staving off a wave of defaults for now. But the episode serves as a wakeup call for another threat that looms on the horizon for the energy sector and, in turn, for...

  • The Covid-19 pandemic is crushing banks in research — and analyst startups are winning Link via @FinancialNews
    Financial News Sun 20 Sep 2020 16:11

    We’re all still grappling with the Covid-19 pandemic, but one thing is clear: it has accelerated all trends. At the prosaic level, this means we’re all online shoppers now or prefer video to physical conferences.

    And at the unconventional level, this means the rise of everything from virtual experiences (think about watching a music concert in Fortnite) to open source solutions to global problems (think about Covid dashboards and research).

    ...
  • BlackRock will never bring all staff back to the office, says Larry Fink Link via @FinancialNews
    Financial News Sun 20 Sep 2020 16:11

    BlackRock, the world’s biggest asset manager, will only bring some two-thirds of employees back to the office and that’s a good thing, according to its billionaire chief executive Larry Fink.

    “I don’t believe BlackRock will be ever 100% back in office,” Fink told the Morningstar Investment Conference on Thursday, according to CNBC. “I actually believe maybe 60% or 70%, and maybe that’s a rotation of people. But I don’t believe we’ll ever have a full, you know, cadre of people in office.

    “It’s going to be a new workforce. It’s going to be a new paradigm, but I do believe it will be a better paradigm for the firm,” he said.

  • ‘It could get really messy’: Finance workers’ cocaine use spikes in lockdown Link via @FinancialNews
    Financial News Sun 20 Sep 2020 15:36

    The Covid-19 lockdown has led to a surge in cocaine use among City professionals, raising alarm bells over drug abuse and mental health issues.

    The problem is particularly acute among those already struggling with addiction, say psychologists and specialists.

  • Ex-HSBC UK chief exec takes on top role managing Facebook’s crypto project Libra Link via @FinancialNews
    Financial News Sun 20 Sep 2020 14:21

    James Emmet has been appointed managing director of Libra Networks, Facebook-backed cryptocurrency venture.

    The former HSBC UK chief executive, who officially retires from the global lender this month, steps into the role on 1 October, Geneva-based Libra said in a 17 September announcement.

  • Goldman says try sending flowers – or toilet roll – if you’re missing clients while working from home Link via @FinancialNews
    Financial News Sun 20 Sep 2020 13:36

    Nothing says you care about your clients more than a delivery of toilet roll to their home address, according to Goldman Sachs.

    If toilet roll is a little too practical as a corporate gift, why not tip-toe down the possibly dubious path of sending your favourite client a dozen red roses? What could possibly go wrong?

  • Legendary investor Mark Mobius on the three stocks to avoid amid the market swings Link via @FinancialNews
    Financial News Sun 20 Sep 2020 12:31

    Mark Mobius has clear advice on what he’ll avoid as the market continues to waver between nervy investors undecided on tech stocks, virus vaccine trials and the upcoming US election.

    The co-founder of Mobius Capital Partners is steering clear of “mining, banks and companies without an internet strategy”.

  • The five stocks that will outperform the S&P 500, according to Goldman Sachs Link via @FinancialNews
    Financial News Sun 20 Sep 2020 11:46

    Goldman Sachs analysts have drawn up a list of the stocks that they think will outperform the S&P 500 going forwards.

    Investors wanting low valuations should look away now: Goldman’s “future five” stocks trade at an eye-watering 42 times their estimated earnings for 2021.

  • Don’t dismiss a UBS-Credit Suisse merger too quickly Link via @FinancialNews
    Financial News Sun 20 Sep 2020 10:26

    Of all the possible deals involving European investment banks, a combination of UBS and Credit Suisse has long been viewed by many observers as one of the least likely to happen. The regulatory hurdles were insurmountable they said.

  • RT @FinancialNews: The Covid-19 pandemic is crushing banks in research — and analyst startups are winning Link via @Fina…
    Financial News Sun 20 Sep 2020 09:41

    We’re all still grappling with the Covid-19 pandemic, but one thing is clear: it has accelerated all trends. At the prosaic level, this means we’re all online shoppers now or prefer video to physical conferences.

    And at the unconventional level, this means the rise of everything from virtual experiences (think about watching a music concert in Fortnite) to open source solutions to global problems (think about Covid dashboards and research).

    ...
  • RT @FinancialNews: Goldman says try sending flowers – or toilet roll – if you’re missing clients while working from home https://t.co/Ett9w…
    Financial News Sun 20 Sep 2020 09:36
  • Back to the City: Rumours of the death of the office are much exaggerated Link via @FinancialNews
    Financial News Sun 20 Sep 2020 09:26

    After months of virtual house arrest, of Covid confinement, the moment has come. Expressed in quasi-military terms, I am facing “phase two” of the lockdown experience: return to base.

    Phase one of the City’s work-from-home experience involved minimal attendance, and offices run by skeleton staff. But now, with the level of infection slowing and some semblance of normality creeping back, it is time for some of us to find our way back to the office, at least for a day a week. So it’s phase two. How does this feel?

    ...
  • Could a resurrected Tulip help London bloom again? Link via @FinancialNews
    Financial News Sun 20 Sep 2020 08:26

    Wander around the City these days and it is hard to find the “huge numbers” of people that Prime Minister Boris Johnson says have returned to work. Wherever they are, they are not in Leadenhall Market.

    The City will gradually fill up again. Yet nobody now believes that there will be as many people coming into the City to work every day as before the pandemic. Will it be 10% fewer? Or 30%? Who knows? But it will certainly make life very difficult for the thousands of businesses that depend on those workers. And it will threaten...

  • UBS loans bikes to bankers to encourage client meet-ups Link via @FinancialNews
    Financial News Sun 20 Sep 2020 06:21

    As large investment banks roll out perks to encourage employees back to their City offices, UBS has come up with an innovative option — free bicycles.

    The Swiss bank has 10 new Brompton bikes available to bankers to attend client meetings in London in a bid to minimise time employees spend on public transport. Getting on a cramped tube was cited by senior dealmakers as a key reason for not wanting to return to the office after lockdown restrictions lifted.

    The bikes can be booked by staff in its Broadgate headquarters near London's Liverpool Street for  travel to client meetings. They will be adorned with branding for the Swiss bank's electronic trading platform, Neo, according to a memo seen by Financial News.

  • Queen strips disgraced film producer Harvey Weinstein of royal honour Link via @FinancialNews
    Financial News Sun 20 Sep 2020 06:16

    The Queen has ordered that American-born film producer and convicted sex offender Harvey Weinstein be stripped of his CBE, the royal honour known fully as the "Order of the British Empire".

    The honour is conferred upon individuals for outstanding contributions to the arts, sciences, charity and welfare.

  • A sustainable future requires us to look beyond the ESG rating Link via @FinancialNews
    Financial News Sat 19 Sep 2020 22:40

    Over the summer, fashion brands group Boohoo found itself at the centre of a scandal. The company’s share price dropped 42% over three days in early July when reports surfaced that its suppliers in Leicester were paying below minimum wage to garment-makers.

    Yet the company was rated highly by many ESG rating agencies — an ESG rating aggregator, CSRHub, shows that Boohoo rates better than 70% of over 20,000 companies worldwide.

    While...

  • Blackstone exec predicts ‘lost decade’ for equity returns Link via @FinancialNews
    Financial News Sat 19 Sep 2020 21:40

    US investment firm Blackstone’s executive vice-chair Tony James said that companies and investors could suffer a “lost decade” for equity returns as governments around the world grapple with the economic fallout from the first wave of the Covid-19 pandemic.

    “All of that will be economic headwinds for companies,” said James, referring to higher taxes, an increase in operating costs, less efficient supply chains and “deglobalisation” that will hurt productivity following the spread of the virus and governments’ measures to contain it. James was speaking to CNBC at the virtual Singapore Summit on 16 September.

  • ‘It could get really messy’: Finance workers’ cocaine use spikes in lockdown Link via @FinancialNews
    Financial News Sat 19 Sep 2020 20:40

    The Covid-19 lockdown has led to a surge in cocaine use among City professionals, raising alarm bells over drug abuse and mental health issues.

    The problem is particularly acute among those already struggling with addiction, say psychologists and specialists.

  • The five stocks that will outperform the S&P 500, according to Goldman Sachs Link via @FinancialNews
    Financial News Sat 19 Sep 2020 19:30

    Goldman Sachs analysts have drawn up a list of the stocks that they think will outperform the S&P 500 going forwards.

    Investors wanting low valuations should look away now: Goldman’s “future five” stocks trade at an eye-watering 42 times their estimated earnings for 2021.

  • A sustainable future requires us to look beyond the ESG rating Link via @FinancialNews
    Financial News Sat 19 Sep 2020 18:40

    Over the summer, fashion brands group Boohoo found itself at the centre of a scandal. The company’s share price dropped 42% over three days in early July when reports surfaced that its suppliers in Leicester were paying below minimum wage to garment-makers.

    Yet the company was rated highly by many ESG rating agencies — an ESG rating aggregator, CSRHub, shows that Boohoo rates better than 70% of over 20,000 companies worldwide.

    While...

  • Could a resurrected Tulip help London bloom again? Link via @FinancialNews
    Financial News Sat 19 Sep 2020 17:25

    Wander around the City these days and it is hard to find the “huge numbers” of people that Prime Minister Boris Johnson says have returned to work. Wherever they are, they are not in Leadenhall Market.

    The City will gradually fill up again. Yet nobody now believes that there will be as many people coming into the City to work every day as before the pandemic. Will it be 10% fewer? Or 30%? Who knows? But it will certainly make life very difficult for the thousands of businesses that depend on those workers. And it will threaten...

  • Goldman says try sending flowers – or toilet roll – if you’re missing clients while working from home Link via @FinancialNews
    Financial News Sat 19 Sep 2020 17:00

    Nothing says you care about your clients more than a delivery of toilet roll to their home address, according to Goldman Sachs.

    If toilet roll is a little too practical as a corporate gift, why not tip-toe down the possibly dubious path of sending your favourite client a dozen red roses? What could possibly go wrong?

  • Back to the City: Rumours of the death of the office are much exaggerated Link via @FinancialNews
    Financial News Sat 19 Sep 2020 16:25

    After months of virtual house arrest, of Covid confinement, the moment has come. Expressed in quasi-military terms, I am facing “phase two” of the lockdown experience: return to base.

    Phase one of the City’s work-from-home experience involved minimal attendance, and offices run by skeleton staff. But now, with the level of infection slowing and some semblance of normality creeping back, it is time for some of us to find our way back to the office, at least for a day a week. So it’s phase two. How does this feel?

    ...
S&P500
VIX
Eurostoxx50
FTSE100
Nikkei 225
TNX (UST10y)
EURUSD
GBPUSD
USDJPY
BTCUSD
Gold spot
Brent
Copper
Last update . Delayed by 15 mins. Prices from Yahoo!