Huawei leak: Senior civil servant piles pressure on ministers to cooperate with probe April 26, 2019 The UK’s foremost civil servant has piled pressure on cabinet ministers to cooperate with his inquiry about who leaked private security discussions at the top level of government. Sir Mark Sedwill has written to members of the National Security Council after the Telegraph reported that Prime Minister Theresa May is set to allow Huawei access [...]
City Moves for 26 April 2019 – Who’s switching jobs at Sage, Faraday Grid and GPP? April 26, 2019 Today's City Moves includes Sage, Faraday Grid and GPP. Sage Sage has appointed Aaron Harris to the role of chief technology officer (CTO) with immediate effect. Harris will report to chief executive officer Steve Hare as part of his executive committee. Previously, senior vice president, head of engineering & technology at Sage Intacct, which was [...]
Bramson may lose the battle but still win the war in his clash with Barclays’ board April 26, 2019 Arguments about the merits of Barclays’ voyage into investment banking feel almost as old as the industry itself. Next week’s showdown between the lender’s board and Edward Bramson, who wants to muscle his way onto it, might prove to be a mere footnote in that story – or, ultimately, warrant a full chapter. Bramson will [...]
The new Bank of England chief will have plenty to keep them busy April 26, 2019 There was a time when running the Bank of England was a family affair. The inaugural governor Sir John Houblon (1694-1697) was followed a few years later by his younger brother Abraham Houblon, who took charge of the Old Lady from 1703 to 1705. There have been 116 governors since Houblon Jnr, and all of them [...]
BBC retains troubled outsourcer Interserve to provide security across its UK sites April 26, 2019 Embattled public sector outsourcer Interserve has been tasked with guarding the BBC’s entire UK estate for the next three years, in a contract award worth £47m. Read more: FRC investigates Grant Thornton audits of Interserve The announcement, seen by City A.M. last night, means Interserve’s security brand First Security will continue providing services for the [...]
Crossrail sets opening date between October 2020 and March 2021 April 25, 2019 Crossrail will open to passengers between October 2020 and March 2021, about two years later than originally planned, its board revealed today. Read more: TfL boss Mike Brown says he will not stand down over Crossrail criticism The central section of Crossrail – which will be known as the Elizabeth line – will open between Paddington and Abbey [...]
Property Legal Q&A: I want to carry out major renovations to my flat, but my lease prohibits structural alterations. Is there anything I can do? April 25, 2019 It is common for leases of flats to prevent any structural alterations by the tenant. In practice though, many landlords usually allow such alterations to be carried out subject to licence and, in certain circumstances, the payment of a premium. However, a recent case may have put a stop to this: Duval v 11-13 Randolph [...]
Lazard beats expectations after financial advisory firm gets M&A boost April 25, 2019 Investment advisory firm Lazard's shares climbed eight per cent today after it posted better-than-expected first quarter results. Overall revenue at the New York-listed company fell 14 per cent to $620m (£480m), while analysts had predicted a figure of $589m according to Yahoo Finance. Investors were cheered by the news that Lazard’s key mergers and acquisitions [...]
How to cope with culture clashes and different time zones when collaborating across global offices April 25, 2019 "If everyone is moving forward together, success takes care of itself." While this Henry Ford quote sums up a simple idea for businesses, sustaining a culture of collaboration across a global organisation is more difficult than it sounds. When offices are split across different countries, operations and communications, departments can quickly become siloed. The trick [...]
Laura Ashley shares hit all-time low as fashion retailer sounds alarm April 25, 2019 Shares in fashion retailer Laura Ashley hit an all-time low today after it issued a warning over its full-year results amid difficult trading conditions. Read more: Laura Ashley issues profit warning as sales slide The struggling brand saw its share price fall over 20 per cent this morning to 2.21p. It has since rebounded somewhat [...]