Monzo teams up with Paypoint to allow users to deposit cash in shops November 21, 2018 Digital bank Monzo has today announced a strategic partnership with Paypoint, enabling its users to deposit cash into their Monzo account at any of Paypoint's 28,000-strong network of corner shops and local stores across the UK. Deposits can range from £5 to £300, with a fee of £1 per deposit and a cap of £1,000 every [...]
London house buyers report growth in gazumping despite wider UK decline November 21, 2018 Roughly two in every three London buyers has been ‘gazumped’ on a house purchase in the last year, according to a new poll which underlines the growing frustration within the capital’s housing market. Gazumping, which is the process of agreeing to a person’s offer on a property and then selling the house to another buyer [...]
This Thanksgiving, be grateful for the political freedom to campaign November 21, 2018 Tomorrow is the fourth Thursday in November, so Americans, in the US and across the world, will be celebrating Thanksgiving. Whenever I have been invited to Thanksgiving dinners, one of my favourite traditions is when everyone sitting around the table mentions something which they are grateful for in their lives. People often mention something personal [...]
DEBATE: As discounts get out-of-control, is there a case for retailers to ignore Black Friday altogether? November 21, 2018 As discounts get out-of-control, is there a case for retailers to ignore Black Friday altogether? Michelle Ovens, director of Small Business Saturday, says YES. Black Friday started off as a day when consumers could enjoy making great purchases, but now it has just become a day for deep discounting – and that is incredibly damaging to small [...]
Life under Network Rail offers a glimpse of the future if Corbyn were left in charge November 21, 2018 The shambles that is Network Rail continues to blight our lives. City A.M. readers may have experienced the cancellation of many services into Waterloo on Monday, due to engineering works overrunning. Even the best-laid plans can go astray. But this week was not just a one-off event. It seems to be a permanent feature of [...]
To restore public trust, it’s time for finance to find its purpose November 21, 2018 More than 10 years on from the collapse of Lehman Brothers, the finance industry still has much work to do to rebuild society’s trust. Given the centrality of financial services to the UK’s economy – whether through the tax revenues it pays, the two million jobs it supports, or the basic functions of our economy [...]
Hilary Ineomo-Marcus detained near Heathrow following Kweku Adoboli deportation – surely it’s time for the Home Office to re-think its approach November 20, 2018 Former rogue trader Kweku Adoboli was deported last week, the Home Office insisting on removing the man who sensationally lost UBS £1.8bn between 2008 and 2011. Two days earlier, City A.M. argued that his case, alongside that of a south Londoner named Hilary Ineomo-Marcus, demonstrated flaws in the government's blunt approach to the deportation of foreign [...]
Focus On Woolwich: This soon-to-be Crossrail hub will see its population increase by 58 per cent by 2026 November 20, 2018 Last month, the Woolwich Ferry made its final voyage across the Thames. For many, it was an emotional farewell as locals had watched it transport cars and people from one side of the river to the other for the last 55 years. Though the Ferry is no more, the service resumes in December with two [...]
Deutsche Bank shares hit record lows as German bank dragged into money laundering scandal November 20, 2018 Shares in Deutsche Bank hit record lows today after the German bank confirmed it was involved in the Danske Bank money-laundering scandal. Danske whistleblower Howard Wilkinson had claimed on Monday that a major European lender was involved in processing up to $150bn (£117bn) in suspicious payments. The former head of Danske Bank’s trading unit in [...]
Clifford Chance elect first non-London senior partner, but Magic Circle glass ceiling remains November 20, 2018 Law firm Clifford Chance today appointed its first senior partner from outside London, but the Magic Circle’s record of never having appointed a woman to a top job remained in place. Partners at the £1.6bn legal giant today elected Amsterdam office managing partner Jeroen Ouwehand as its new senior partner, a role equivalent to the [...]