Digital bank Monzo in discussion with Post Office to allow customers to deposit cash February 5, 2019 Digital bank Monzo has entered discussions with the Post Office to allow its customers to deposit and withdraw cash in branched across the country. Chief executive Tom Blomfield told MPs that while cash transactions were declining they were not “going away.” A potential deal, similar to those between the Post Office and other major UK [...]
The new 26-30 railcards have saved millennials over £3.4m since they launched in January February 5, 2019 Cash-strapped millennials have saved over £3.4m since the hotly anticipated 26-30 railcard launched at the beginning of this year. Between 2 January and 2 February this year, 440,863 journeys were made with the railcard, producing savings of £3,421,028. If this trajectory continues, customers will save on average a total of £281 a year. The 26-30 railcard, [...]
From London to Beirut: leading City lawyer takes ministerial post in new Lebanese government February 5, 2019 The head of US law firm Dechert’s London office is leaving the firm’s partnership to take a role in Lebanon’s new government. Capital markets specialist Camille Abousleiman, who was named the American Lawyer magazine’s 2018 dealmaker of the year, has been appointed minister for labour in Lebanon's new government. Abousleiman is the second high profile [...]
Ocado boss Tim Steiner refuses to comment on M&S tie-up reports February 5, 2019 Ocado chief executive Tim Steiner today refused to be drawn on reports of a potential tie-up with Marks & Spencer after reporting a revenue boost in the firm’s full-year results. “We’re in the business of talking to retailers; we’re constantly talking to different retailers all around the world about opportunities we may have with them,” Steiner [...]
An adrenaline rush every morning will relieve stress and boost your energy, according to new research February 5, 2019 Businesses are constantly searching for innovative ways to encourage creativity, boost productivity, and reduce stress among their employees – all factors that we know impact a company’s bottom line. We also know that implementing strategic change in companies of scale takes time. So what if there were a simple shortcut to achieving these outcomes? We [...]
Shares in Gama Aviation dive after it reveals nearly $8m accounts overstatement February 5, 2019 Shares in Gama Aviation fell nearly 19 per cent this morning after it announced it had made a nearly $8m (£6.14m) overstatement in its accounts . The company said it had received two overpayments in error from its US associate Gama Aviation LLC for $5.75m and $2m in June 2018 and December 2017 respectively. Read [...]
Weathering the storm: City expects minimal Brexit impact on jobs February 5, 2019 The number of City jobs expected to move overseas in the event of a hard Brexit has fallen to just 2,000 – according to the latest survey of financial institutions. A Reuters study also suggests that investment banks are planning to increase their London headcount. In September, the Reuters survey showed that 5,766 jobs would [...]
Odeon director Welch joins Hammerson board February 5, 2019 Shopping centre landlord Hammerson has appointed Odeon director Carol Welch to its board. The move, which comes as Hammerson embarks on a radical overhaul of its business, follows on from last week’s announcement that former Argos boss Terry Duddy was stepping down from the board in the wake of his new role at Debenhams as interim chairman. [...]
Sterling falls with UK economy ‘at risk of stalling’ as services enter slowdown February 5, 2019 The UK service sector lost momentum last month as incoming new work fell for the first time since July 2016, leading to warnings that the economy is close to stalling. Business activity remained flat in January but fears over the UK’s economic outlook led to a reduction in new employment numbers for the first time [...]
Two Barclays employees killed in Italian avalanche February 5, 2019 Barclays confirmed today that two of its employees were killed in an avalanche in the Italian Alps on Sunday. Matt Ziegler, 43, an in-house lawyer at Barclays, and Katherine Clarke, 39, a director in Barclays private bank and overseas service, were among four people killed in the avalanche on Sunday. A spokesperson said in a [...]