Jimmy Chidiac

38 Flips | 4 Magazines | 1 Following | 1 Follower | @jimmychidiac | Keep up with Jimmy Chidiac on Flipboard, a place to see the stories, photos, and updates that matter to you. Flipboard creates a personalized magazine full of everything, from world news to life’s great moments. Download Flipboard for free and search for “Jimmy Chidiac”

The $2 Billion Market for Passports

As migration and inequality continue to get significant attention from the U.S. presidential candidates, it is worth noting a rising phenomenon at …

Fitch warns of emerging market shock if Fed sticks to rate plan

Investors do not believe the US Federal Reserve will dare to take away the punch bowl. They may be in for a nasty surprise if it does<p>Emerging markets have accumulated $7.5 trillion of external debt and are acutely vulnerable to a rapid rise in US interest rates, regardless of whether they borrowed …

Thousands more UK bank branches could face closure

Britain’s banks could operate with as few as 7,500 branches, down from almost 10,000 today<p>As many as 2,400 bank branches could close over the next five years, taking the total number of high street sites to below 7,500, according to a study from consultancy McKinsey.<p>Customers are increasingly …

Challenger banks claim competition probe is not tough enough

Britain’s small banks believe the competition investigation will not make a serious difference to the industry, and big banks will be let off lightly<p>Challenger banks have urged the competition watchdog to have a “major rethink” about high street giants Lloyds and RBS as part of their probe into the …

Spain's Sabadell eyeing bid for Northern Rock, B&B assets - source

MADRID (Reuters) - Spanish bank Sabadell (SABE.MC) is considering making a bid for an 18 billion euro (13.2 billion pounds) mortgage portfolio held by British nationalised banks Northern Rock and Bradford & Bingley, a source familiar with the process said on Monday.<p>People pass a branch of Northern …

INVESTOR: Wall Street banks will never be as profitable as they once were

They would make billions of dollars when times were good, and then lose just as much when the market tanked.<p>Nowadays they're pretty dull.<p>They take less risk — and look more like utilities than the levered-up, proprietary trading, subprime lending banks of old.<p>And according to OppenheimerFunds chief …

RBS hires Bank of America for Williams and Glyn float

Royal Bank of Scotland hires investment bankers to prepare the spin-off for a much-delayed stock market flotation in 2016<p>Royal Bank of Scotland has hired investment bankers from Bank of America Merrill Lynch to prepare the long-awaited stock market flotation of its spin-off bank Williams and Glyn, …

Challenger banks pushing Treasury to ease banking tax

Banks such as Metro and Secure Trust met officials amid fears that the 8% surcharge could stifle competition in the banking sector<p>The Treasury is considering whether to make changes to its controversial new banking tax after extensive lobbying from ‘challenger banks’.<p>Banks such as Metro and Secure …

Seven charts you need to see before the 'Emergency Budget'

As George Osborne prepares to deliver the Summer Budget, we take a look at the Chancellor's record on balancing the books<p>George Osborne is set to deliver the first Budget of his career as the Chancellor of a Conservative Government.<p>It's being called an 'Emergency Budget', as it's being introduced …

The future of mobile payments: Are we heading toward a cashless society?

MasterCard Imagine a world where you would never think about withdrawing cash from an ATM. You'd never stand in line to buy a train ticket, or wait for a cashier to ring up items at your favorite store.<p>Today, digital-payments technology is transforming our daily lives. But according to MasterCard's …

Mastercard

Zero-hours contracts 'save UK from eurozone levels of unemployment'

Business groups defend companies who use zero-hour contracts after new figures reveal 697,000 people in the UK are on them<p>Business groups have defended companies using zero-hours contracts, arguing that they have protected the UK from the high levels of <b>unemployment</b> seen on the continent.<p>The …

RBS posts seventh straight annual loss as it plans more job cuts

Taxpayer-controlled bank was dragged into the red by a £4bn writedown on the value of its stake in US subsidiary Citizens and £2.2bn on conduct and litigation charges.<p>With just over two months until May’s election, George Osborne would desperately have liked to see Royal Bank of Scotland report a …

Boris Johnson: London is still the eighth emirate of the world

Mayor of London extols the virtues of London as a global centre for Middle Eastern investment<p>London has cemented its position as the "eighth emirate of the world", according to Mayor Boris Johnson, who hailed the role of Middle Eastern investment in the capital.<p>Speaking at The Telegraph's Middle …

The waiting game is over at Standard Chartered

Analysis: Sir John Peace had a choice - remove Sands or anger investors<p>“I am committed to being at the bank and executing the operation. I’ve come out of these last few days thinking we’ve had very good discussions with shareholders.”<p>Full of his trademark self-assurance, Peter Sands, fresh from a …

US GDP growth left looking limp after downward revisions

Statisticians have revised down their estimates of US economic growth at the end of the year, leaving the country's performance looking less impressive than previously imagined<p>The US economy's performance in the final quarter of last year was less impressive than previously thought.<p>Statisticians …

Falling oil prices incentive for Middle East to cut subsidies

Energy exporting governments should use falling prices as an opportunity to cut generous subsidies and restore their fiscal health, according to the private arm of the World Bank<p>Low oil prices will help invigorate private investment in the Middle East according to a leading figure at the private …

Pensions industry hits out at Ed Miliband's plan to alter tax relief rules

Labour leader wants to fund a cut in tuition fees with a tax raid on pension savings<p>Pensions experts have criticised proposals from the Labour leader Ed Miliband to cut the tax-free amount Britons can contribute to their pensions in order to fund a reduction in tuition fees to £6,000 a year.<p>Mr …

Low interest rates could threaten UK economy, warns Bank of England policymaker

Low interest rates could threaten to slow productivity growth, heighten inequality, and make it harder for the Bank of England to respond to future crises, Kristin Forbes says<p>Britain's rock-bottom interest rates could threaten the UK's economic recovery if they stay at their historic lows for too …

Provident Financial says outlook is rosy for subprime lending

The company is now aiming to reach 1.8 million credit card customers in the UK<p>Subprime lender Provident Financial has increased its annual profits by almost a fifth and believes it stands to gain from the regulatory clampdown on short-term lenders in Britain.<p>The firm’s adjusted pre-tax profits rose …

Yorkshire boss bemoans lack of take-up of account switching

Chris Pilling blames larger high street banks for customers failing to take advantage of new industry scheme<p>The head of the country's second biggest building society has said he is unhappy with the take-up for a new bank account switching scheme.<p>Chris Pilling, chief executive of the Yorkshire …

O2 brand could be kept after £10.2bn Hutchison takeover

The mobile company's brand likely to be maintained despite a £10.2bn takeover by Hutchison Whampoa's Three, according to executives<p>The O2 brand could live on even after the company is taken over by Hong-Kong based Hutchison Whampoa, which owns rival mobile operator Three.<p>Ronan Dunne, O2’s chief …

Why the FTSE 100 is at record highs

Ben Martin explains the economic and political conditions which have seen Britain's benchmark surpass the peak it reached just before the dotcom bubble burst<p>The FTSE 100 this week has broken a record that had stood for more than 15 years and hit a new all-time high.<p>Britain’s benchmark index of …

New best-buy cash Isas launched

Clydesdale and Yorkshire banks pay 2.1pc for two years - far more than the nearest competitors<p>Clydesdale Bank and sister company Yorkshire Bank have launched two-year fixed-rate cash Isas that have gone straight to the top of the best buy tables.<p>The Isas pay 2.1pc on a minimum balance of …

Greece to stop privatisations as Syriza faces backlash on deal

The Syriza leadership risks falling between two stools as it tries chip away at the austerity regime without triggering Greece's ejection from the euro<p>Greece's Left-wing Syriza government has vowed to block plans to privatise strategic assets and called for sweeping changes to past deals, risking a …

Coms hit by boardroom turmoil

Shares in the IT and telephony group plunged on news of losses and a boardroom rift<p>A boardoom rift and financial turmoil have engulfed <b>Coms</b>, causing more pain for private shareholders who had already had their fingers burnt investing in the telephony and IT business.<p>Shares in the <b>Aim-listed</b> company, …

Apple to invest €1.7bn in Europe

Apple announces biggest ever investment in Europe and claims in new research that it supports almost 700,000 jobs across the continent<p>Apple is to invest €1.7bn (£1.3bn) into Europe, its biggest ever investment in the continent, as it looks to support a rapid growth in sales of products and apps …

Germany's economic revival threatened by Greek crisis and Russian uncertainty

An influential survey of German businesses has painted a weaker picture of the country's private sector than economists had expected<p>A closely watched indicator of the German economy has come in weaker than analysts had anticipated, dampening hopes for the country's revival.<p>The <b>Ifo business climate</b> …

Tensions high as Greece scrambles to keep rescue deal alive

The radical Syriza government submitted a five-page list of measures to EMU officials in Brussels in time for a deadline on Monday<p>Greece has vowed to shake up labour markets and push through far-reaching reforms to avert a fresh showdown with eurozone creditors this week, hoping to stave off …

HSBC needs to change: it is still destroying more value than it is creating

HSBC must slash costs, pull out of underperforming areas, improve its compliance and make sure that it is in full control of its vast empire<p>We are only in February, but it is already certain 2015 will be remembered as yet another annus horribilis for HSBC.<p>The best way to understand the extent of …

The future of the sharing economy: why we'll all be doing odd-jobs

Founder of TaskRabbit explains why the need for more flexible workspaces and lifestyles is leading people to become "taskers"<p>In modern American folklore, great companies get founded because of a chance discovery of a way of meeting a great personal need.<p>Leah Busque believes her such moment came in …