Nick Jones’s Soho House primed for $2bn float on New York Stock Exchange February 4, 2018 Private members' club giant Soho House is plotting a $2bn (£1.4bn) float on the New York stock market. Founded by entrepreneur Nick Jones, the network of clubs, restaurants and workspaces has sites across the world, with recent additions including the City's new hotspot The Ned. The company has now hired bankers from JPMorgan and Goldman [...]
Government will let homeowners add two storey extensions with planning reforms to ease housing crisis February 4, 2018 The government has said it will loosen planning rules in a bid to ease the housing crisis, with homeowners being given permission to build upwards. "The answer to building new homes isn’t always an empty plot, or developing on a derelict site," said housing secretary Sajid Javid. Read more: These are the UK's 20 least [...]
Business “hugely frustrated” by government delay on Brexit immigration paper says CBI February 3, 2018 The government must provide clarity over its future immigration policy, according to an influential business lobby group, after reports it may delay publication of a key policy paper on the issue. The Confederation of British Industry (CBI) said firms will be “frustrated” if the government does not give an indication of what the future policy [...]
Conservative MP Jacob Rees-Mogg accuses Treasury of “fiddling the figures” on Brexit forecasts February 3, 2018 Prominent Tory Eurosceptic Jacob Rees-Mogg today reignited a row over economic forecasts of the impacts of Brexit, accusing the Treasury of “fiddling the figures” in its analysis. Rees-Mogg, who leads the pro-Brexit European Research Group of Conservative MPs, refused to apologise for accusing civil servants of trying to undermine the Brexit process. He said the [...]
Bitcoin credit card bans introduced by JP Morgan, Bank of America and Citigroup February 3, 2018 US banks are queueing up to stop customers from buying bitcoin using credit cards, as wild price swings continue on the biggest cryptocurrency. JP Morgan Chase and Bank of America both last night said they will ban the practice, according to CNBC, which could leave customers chasing the big price rises which bitcoin has seen [...]
US stocks slide to biggest loss under Trump presidency on Federal Reserve inflation fears February 3, 2018 US stock markets ended the week last night with the biggest single-day loss of the Trump era, as investors adjusted their interest rate expectations following labour market data which showed signs of an increase in inflation. The benchmark S&P 500 lost 2.12 per cent over the day, while the Dow Jones Industrial Average shed 2.54 [...]
Markets wrap: FTSE 100 falls as bond yields jump, sterling falls agains the US dollar (GBPUSD) and bitcoin (BTC) swings February 2, 2018 The FTSE 100 today fell to its worst weekly performance since the summer in spite of the weaker pound – usually a boon to big multinationals with big dollar earnings. London’s blue-chip index lost more than 0.6 per cent to reach 7,443.43 points, its lowest close since 14 December to cap a week in which [...]
Janet Yellen gets new job as fellow at Brookings Institution think tank in Washington February 2, 2018 Janet Yellen’s tenure as Federal Reserve Chair might end this weekend, but instead of taking a well-earned break, she is moving on to a new job. She will begin work on Monday morning as a distinguished fellow at the Brookings Institution in Washington DC. The Brookings Institution is a self described “non-partisan” American research group [...]
Editor’s Notes: The City has its Brexit optimists – are they complacent or correct? February 2, 2018 This week I attended a small dinner at which some of the most significant financial institutions in the City were represented. Over the course of the evening, and to my surprise, it became clear that all but one of the 12 guests was an enthusiastic Brexiteer. Many of them worked at companies whose public interventions [...]
Here’s how much Jeremy Corbyn earned last year February 2, 2018 Jeremy Corbyn and John McDonnell have published their tax returns once again, saying the public won't trust them unless they are open about their tax affairs. Corbyn's take-home pay, which includes his salary, his pay as leader and his pension, came to £136,762. He has no second job, and holds no stocks or shares, and [...]