Hunt to present changes to City rules in bid to make London more competitive December 7, 2022 Various media report this morning that Chancellor Jeremy Hunt will later this week unveil a package of financial reforms to relax regulation in the City in a bid to make London more competitive. The measures are likely to include easing the ring-fencing rules on Britain’s biggest banks, which were imposed following the 2008 financial crisis, [...]
City Moves: Who’s switching jobs in the Square Mile? December 7, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. The Bank of London The Bank of London has poached its new chief financial officer from Metro Bank. Banking veteran Marc Jenkins, who will also join the executive management committee, spent two years as deputy and acting [...]
BrewDog ad banned for branding beer ‘one of your five a day’ December 7, 2022 A BrewDog advert has been banned by the industry watchdog after it branded beer as “one of your five a day” in a marketing email. The Advertising Standards Authority (ASA) said the claim was misleading, suggesting that consumers could be confused by the messaging. The body of the email featured the heading “FEELING FRUITY” in [...]
Odey Asset Management taking sexual assault claims “extremely seriously” – reports December 6, 2022 Bosses at Odey Asset Management have reportedly said they are treating claims of sexual assault against founder Crispin Odey “extremely seriously”, after new claims were reported in the media this week.
Breezy does it: Onshore wind gets green light after Government U-turn December 6, 2022 Onshore wind is finally set for a revival following Government U-turn, with Downing Street pledging to relax restrictions on new turbines.
Ministers call for clearance personnel on Roman Abramovich-owned Truphone deal December 6, 2022 Ministers have demanded that the German businessman snapping up Roman Abramovich’s British telecoms firm must hire government-cleared security personnel for the deal to be sealed. Business Secretary Grant Shapps said the takeover of the UK firm Truphone could pose a risk to national security, and could lead to disruption of the mobile services sector. Hakan [...]
All hail the political u-turn – we should welcome more of them December 6, 2022 Should you be driving towards the edge of the white cliffs of Dover, hands on the wheel and pedal to the metal, you can imagine that any passengers who happened to be in the car alongside you would be encouraging you, at some volume and with no small level of profanity, to turn the thing [...]
Shares in RBG plummet following trading update December 6, 2022 Shares in RBG Holdings recovered slightly today after plummeting on Monday following news it has taken a £4m hit to its balance sheet. In a trading update, the London listed professional services firm told investors it’s litigation funding subsidiary LionFish has lost two legal cases over the previous year RBG said LionFish will take a [...]
Morgan Stanley cuts two per cent of jobs in ‘modest’ cull – reports December 6, 2022 Morgan Stanley is set to cut about two per cent of staff according to CNBC sources. It comes after chief executive James Gorman said last week that the investment bank would need to make ‘modest’ job cuts as sluggish markets weigh on profits. “Some people are going to be let go,” Gorman said at the Reuters NEXT conference, [...]
No regulatory ‘race to the bottom’ says Glen as City braces for rules reform December 6, 2022 A top Treasury minister said the government was not “deregulating for deregulation’s sake” today as the government tries to soothe concerns it will overzealously slash rules governing the financial sector.