UK’s St James’s Place revamps fees after regulator pressure
SJP posts rise in Q3 FUM; net inflows halved y/yShares up 2.1% after early lossesSays new fee structure to reduce...
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Major US banks show profit boost, but some caution from consumers
The entrance to JPMorgan Chase's international headquarters on Park Avenue is seen in New York October 2, 2012. REUTERS/Shannon Stapleton/File...
Citigroup profit beats estimates on trading, interest payments; CEO pushes overhaul
Customers use ATMs at a Citibank branch in the Jackson Heights neighborhood of the Queens borough of New York City, U.S. October 11, 2020. REUTERS/Nick Zieminski/File Photo Acquire Licensing RightsNEW YORK, Oct 13 (Reuters) - Citigroup's (C.N) third-quarter profit beat estimates on Friday as it benefited from a surge in trading revenue, investment banking fees and interest payments while undertaking its biggest overhaul in decades.The bank said it will cut management layers from 13 to eight as part of a sweeping reorganization. In the two top layers of leadership, 15%...
US bank profits set to rise on higher rates while Wall Street lags
NEW YORK, Oct 10 (Reuters) - Profits at the biggest U.S. consumer lenders are likely to rise in the third quarter, in contrast with investment banks still facing a dealmaking slump, analysts said.JPMorgan Chase (JPM.N), which kicks off earnings for big U.S. lenders Friday, will set the tone for large banks. It is predicted to post a roughly 25% jump in earnings per share (EPS) versus a year earlier, LSEG estimates showed.Goldman Sachs (GS.N) and Citigroup (C.N) are expected to report the biggest EPS declines of 35% and 26% respectively,...
Bank of England approached UK lenders to gauge interest in troubled Metro Bank, Financial Times reports
Signage is seen outside of a Metro Bank in London, Britain, May 22, 2019. REUTERS/Hannah McKay/File Photo Acquire Licensing RightsOct...
No let up for rivals as Aldi UK steps up investment
A shopper walks inside an ALDI supermarket near Altrincham, Britain, February 20, 2023. REUTERS/Phil Noble/File Photo Acquire Licensing RightsTo invest...
Thyssenkrupp’s Nucera targets growth to meet green hydrogen demand
A banner of Thyssenkrupp Nucera is displayed outside the Frankfurt stock exchange prior to Thyssenkrupp Nucera's IPO in Frankfurt, Germany,...
Italian gas group Snam seeks to tap EU green energy funds
MILAN, July 27 (Reuters) - Italy's state-controlled gas grid operator Snam (SRG.MI) said on Thursday it expected to get a financial support for some of its projects from the European Union's REPowerEU green energy scheme.The Italian government, which is struggling to spend 191.5 billion euros ($210.59 billion) of EU post-COVID funds by 2026, wants to shift some of that money to REPowerEU projects.According to a document released by the government, Rome could spend in total 19 billion euros ($21 billion) under the REPowerEU, with more than 400 million euros earmarked...
Barclays signals profit squeeze as customers take action
LONDON, July 27 (Reuters) - Barclays (BARC.L) warned of growing pressure on its UK business as stubborn inflation and high...
UK’s Schroders H1 assets drop, Jupiter, St James’s Place rise
July 27 (Reuters) - British asset manager Schroders (SDR.L) reported a drop in first-half assets under management on Thursday, due to weaker investor sentiment amid market volatility.UK investors are playing it safe pulling $842 million from equity funds in June in favour of money market and fixed-income funds, fund network Calastone said earlier this month."Like the rest of our peers we see this to be a challenging environment, markets are volatile," Jupiter CEO Matthew Beesley told Reuters."We know that client confidence in markets is not high. With this uncertain environment...