City Moves: Who’s switching jobs in the Square Mile this week? September 13, 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. Kantar Data insights company Kantar has appointed a managing partner to lead its consultancy practice. Natalie Vander Vorst is set to lead the 150-person strong practice, which advises brands on commercial and marketing strategies. Over her career, [...]
Aveva nears closure on multi-billion-pound Schneider buyout September 12, 2022 London listed software developer Aveva is near to closing a deal that would see it fully taken over by French industrial giant Schneider Electric. The two companies are in discussions for Schneider to acquire the roughly 40 per cent stake in Aveva that it does not already own, at a price of £30 a share, [...]
Lidl joins Sainsbury’s, Tesco and Primark to shut shops for Queen’s funeral September 12, 2022 Top supermarkets and retailers including Lidl, Waitrose and Sainsbury’s are set to shut their UK stores on the day of Queen Elizabeth II’s funeral. Major retailers B&Q and Primark will also close shops for the bank holiday to mark the Queen’s state-funeral next Monday. Some supermarkets are also working on plans to cut some of [...]
Woodford fund administrator could face £306m bill, FCA says September 12, 2022 The administrator of Neil Woodford’s collapsed investment fund could be forced to dish out compensation payments of up to £306m, the Financial Conduct Authority said today.
Hotel Chocolat closes US online site September 12, 2022 British food brand Hotel Chocolat is going to close its US website and severely limit investment in the country. The premium British chocolate maker made the announcement this morning that “investment levels in the US would be materially reduced. They would be “limited to essential working capital only for online and wholesale.” It also “decided [...]
WPP names Karen Blackett as new UK chief September 12, 2022 The world’s biggest advertising group WPP named Karen Blackett OBE as the new President of its UK business. Blackett currently serves as UK CEO of GroupM, WPP’s media investment business, alongside her role as UK Country Manager for WPP. She will step down from GroupM to focus full-time on WPP, and her successor as UK CEO of GroupM will [...]
Ministers meddling in regulation is ‘recipe for disaster’, says former FCA official September 12, 2022 Government plans to exert greater control over financial rule-making are a “recipe for disaster”, a former senior regulatory official warned today, as the government looks to grant itself powers to overturn decisions made by independent City watchdogs.
Streamline rules to boost barren IPO market, says Numis exec September 12, 2022 Watchdogs must roll out “simpler and more flexible” regulation in order to reinvigorate London’s barren initial public offering market, the investment banking chief of broker Numis said today.
UK battery storage capacity to be boosted by £200m venture September 12, 2022 Specialist energy storage trust NextEnergy Solar Fund has announced a £200m venture with sustainable electricity firm Eelpower to strengthen the UK’s battery storage capacity. The company’s first 50MW battery storage project through the joint venture is currently under construction in Fife, Scotland, and is expected to grid-connected in the first half of 2023. “Battery storage [...]
Farmland investment vehicle plots £200m London float September 12, 2022 A farmland investment vehicle has revealed plans for a £200m float on the London Stock Exchange today as investors look to agricultural land amid global food supply shocks.