Confirmed: Scandal-hit Home REIT calls in AEW and announces plans to offload properties May 23, 2023 Scandal-hit housing investor Home REIT has confirmed the appointment of property giant AEW as its new fund manager today and said it will now sell-off a slew of properties as it scrambles to stabilise its sprawling portfolio.
John Allan: Tesco chair now also quits Barratt role fearing misconduct claims may become ‘disruptive’ May 23, 2023 Tesco chair John Allan will quit his role at the top of Barratt Developments, fearing sexual misconduct claims which he staunchly denies will become “disruptive. The London-listed housebuilder told investors this morning that Allan would step aside from the role he has chaired for nine years at the end of next month – three months [...]
Morning in the City! Live updates on public finances, Shell AGM and John Allan May 23, 2023 Welcome to City A.M.’s live blog on Tuesday 23 May, as Shell prepares for its AGM, and the Square Mile wakes up to a shock resignation.
Sadiq Khan hosts crunch business talks with City figures May 23, 2023 Sadiq Khan has warned London’s businesses are facing “the most difficult period in living memory” as a result of Brexit, the Covid-19 pandemic and the inflation crisis. The Mayor of London has called for the government to devolve some immigration powers to City Hall as a means of tackling regional labour shortages sparked by the [...]
Do FTSE 100 bosses need more money? May 23, 2023 A debate is raging in the Square Mile over how much executives are paid - do UK firms need to pay more money to attract the best talent?
London Stock Exchange eyes world-first private stock exchange launch by next year May 23, 2023 The London Stock Exchange has said it could launch a world-first stock market for private companies as soon as next year as it looks to revive the fortunes of the Square Mile and stop a flood of firms leaving for New York.
Chancellor to discuss food prices with CMA May 23, 2023 Today the Chancellor Jeremy Hunt will meet with food manufacturers to discuss the cost of food and explore ways to ease pressure on households. The government says Hunt will raise concerns about high prices of food in the UK and discuss measures the government and industry could put in place to help households. Hunt said: [...]
City businessman on the run after being convicted of fraud in £70m forex scam May 22, 2023 A businessman who ran a ponzi-style investment scam worth in excess of £70m was found guilty today following a seven week trial.
History shows AI will create more jobs than it destroys, Deutsche Bank analysts argue May 22, 2023 Analysts at Deutsche Bank have become the latest experts to argue that AI will create more jobs than it destroys. In a note examining the history of technological advancement, Deutsche Bank’s Henry Allen and Jim Reid investigate the historical response to technological breakthroughs. Looking at long-term unemployment data, the analysts point out that changes in [...]
Atome Energy shares leap after Baker Hughes snaps up stake May 22, 2023 Atome Energy’s share price jumped over 10 per cent this morning after US oil services company Baker Hughes snapped up a 6.6 per cent stake