News

Barclays has opened a new office in Riyadh, the capital of Saudi Arabia, despite rivals scaling back operations in the Gulf, due to the war in the Middle East. The UK-headquartered bank announced that the office, located in the city’s financial district, is part of its plans to expand its busi

AAB has acquired specialist provider of internal audit, governance, risk, and assurance services firm Validera to strengthen its risk assurance expertise across the public and private sectors. The acquisition allows the firm to expand its provision of independent, flexible internal audit services de

The FTSE 100 rose 0.48% this morning as hopes of a de-escalation in the Middle East helped offset renewed pressure on technology stocks following fresh concerns surrounding Nvidia. US President Donald Trump said it was “highly unlikely” that he would launch new strikes on Iran, lifting h

The private equity owners of Hargreaves Lansdown are set to receive nearly £800m in dividends since taking the wealth manager private in a £5.4bn deal. The Bristol-based investment platform paid £600m in dividends during the year to June, with a further £189.3m declared in Se

Robert Terry, the businessman at the centre of the Quindell scandal, is plotting a return to the stock market. Terry shot to fame as the boss of the AIM-listed insurance outsourcer, which was valued at £2.7bn on the stock market at the height of its success.

A new financial advice boutique has been launched by the former head of Rathbones' Bristol office to counter the rise in the rapid consolidation in the market. Sam Wright established Westpeak Wealth, earlier this year, following a career spanning more than 20 years as an investment manager. The fina

Andrew Bailey has claimed forging closer ties with the EU would boost growth as he backs the Prime Minister's plans. The Governor of the Bank of England stressed he remained politically neutral on Brexit before highlighting that less friction with nearby trade partners would inevitably help the econ

Aberdeen Investments has launched the Macro Opportunities Fund, designed to help investors diversify portfolios and navigate increasingly complex market conditions. The strategy is launching with $110m in assets under management and led by Maximilien Macmillan, head of macro investments, multi-asset

  Hastings Direct has announced plans to hire more than 500 people across a range of business areas over the next 12 months.

Shareholders in Scottish Mortgage Investment Trust have cashed in on its early support for SpaceX following the US tech firm’s mammoth flotation in the summer. The FTSE 100 trust, managed by Baillie Gifford, took advantage for profit taking when the window opened for the sale of shares. It cur

AAB has acquired financial delivery firm Abacai, which provides outsourced finance and accounting support to fast-growing consumer brands across e-commerce, retail and wholesale sectors. Abacai will join the office of the chief financial team at AAB, providing targeted support across operationa

Morgan Stanley and JPMorganChase were among the winners at this year’s Scotland Women in Technology Awards. Boluwatife Omosowon, a software engineer at JPMorganChase, took home the Rising Star Award, while Nicolette Robinson, an executive director at Morgan Stanley, won the Female Innovator Aw

Columbia Threadneedle Investments' Andrew Carnwath has warned that private equity is splitting in two, and that managers caught in between are coming under pressure. The firm’s head of private equity was speaking about the future of private markets at the Investment Association’s Scotlan

The Secretary of State for Scotland Douglas Alexander has claimed Scotland's financial services remains “scarred” by the financial crash, as he called for renewed confidence in the industry and greater collaboration between government and business to drive economic growth. Mr Alexander t

The Bank of England has raised the cost of borrowing, as forecast, by 0.25 percentage points to 4%, the first rise in three years. The decision by the nine-member monetary policy committee was unanimous and financial markets are still pricing in three further rate hikes by the end of next year.