Brett Christophers: Be wary of outsourcing climate change response to ‘ruthlessly extractive’ asset managers June 18, 2023 Academic Brett Christophers has warned that governments’ attempts to outsource the response to climate change to asset managers, such as those at Blackstone and Brookfield, will have damaging consequences. Christophers, who recently published Our Lives in their Portfolios, told City A.M. that “the infrastructural response to climate change both in terms of mitigation and adaptation [...]
London investors failing to ‘step up’ in fight for IPOs, says WE Soda chief June 18, 2023 The boss of WE Soda has taken aim at the “commitment” of London and European investors today after the soda ash maker ditched its listing plans last week due to the meagre valuation mooted by the market.
John Lewis property chief resigns in latest top rank exit June 18, 2023 John Lewis property boss Chris Harris has resigned after a five-year stint, placing further pressure on the struggling retailer’s chair Dame Sharon White. Harris, who held the role of property director, handed in his resignation last week, according to reports in the Sunday Times, but will remain at the firm until November. He had played [...]
Labour ditches CBI boycott and meets new DG Rain Newton Smith June 18, 2023 Labour has ended its boycott of the crisis-hit Confederation of British Industry (CBI) to discuss changes the lobby group is making in the wake of a sexual misconduct scandal. Shadow business secretary Jonathan Reynolds met with new director general Rain Newton-Smith this week. Both Labour and the Conservatives previously cut ties with the confederation – [...]
Won’t take much for 6 per cent: Bank of England tipped to raise rates again June 18, 2023 The squeeze on mortgage holders is set to tighten as the Bank of England gets ready to hike interest rates for the 13th time in a row, experts have said. Some analysts are expecting UK interest rates to rise by another 0.25 percentage points on Thursday, and say there could be more hikes on the [...]
Wall Street ends best week since March on quiet note June 17, 2023 Wall Street has closed out its best week since March with a quiet finish on Friday, as stocks drifted to modest losses. The S&P 500 fell 16.25 points, or 0.4 per cent , to 4,409.59 after wobbling through the day. It still closed out a fifth straight winning week for its longest such streak since [...]
‘Great un-retirement’ underway as cost of living forces people to get back to work June 17, 2023 A “great un-retirement” could be getting under way, according to Age UK, as rising living costs force people to change their later life plans. The charity said it is continuing to hear from older people whose retirement aspirations “are being ruined by the impact of inflation”. One person told the charity: “Had to take early [...]
Zopa: C-suite hiring spree continues with ex Sainsbury’s, Moonpig and KPMG execs June 16, 2023 Digital bank Zopa has drafted in top figures from Sainsbury’s, Moonpig and KPMG as part of a major leadership shakeup before an expected flotation. The lender announced today Peter Donlon and Kate Erb have been brought in as chief technology officer (CTO) and chief operating officer (COO) It said the moves were made as it [...]
Bank of England survey finds public has all time low confidence in its ability to tackle inflation June 16, 2023 Public confidence in the Bank of England’s ability to tackle inflation has plummeted according to a fresh survey by… the Bank of England. The central Bank issued its quarterly poll of public attitudes to tackling inflation as speculation grows that it will hoist interest rates to 5.75 basis points next week, amid out-of-control inflation. Asked [...]
Travis Perkins’ share price tumbles with building supplier downgrading profits June 16, 2023 Travis Perkins has warned investors to expect lower profits, with the UK's biggest supplier of building materials downgrading its forecasts.