Paddington disruption to continue into tomorrow as Network Rail carries out overnight repairs October 17, 2018 Extensive disruption at Paddington station today caused by damage to overhead cables will continue into tomorrow as Network Rail carries out vital repairs. Commuters faced a travel nightmare this morning when Paddington station was plunged into chaos after a Hitachi train caused damage to 500m of electrical power lines during a test last night. The [...]
Prudential Finance removed from US ‘too big to fail’ list October 17, 2018 US insurance giant Prudential Finance was removed from the list of organisations judged “too big to fail” today by US regulators. Prudential was the last of the insurance firms on the list of major financial institutions which was drawn up post-financial crisis. Read more: RIP Dodd Frank: Trump's adviser signals the end of the banking [...]
UBS veteran James Palmer appointed EMEA investment bank vice chairman October 17, 2018 UBS veteran James Palmer has been appointed vice chairman of EMEA investment banking and capital markets at Credit Suisse. Palmer will be based in the Swiss banking giant's London office and focus on revenue generation across all product groups, according to an internal memo seen by City A.M. and confirmed by a company spokesperson. Read more: [...]
Consultation launched to pick best of three locations for £40m Nine Elms bridge October 17, 2018 A consultation has been launched into finding the best location for a new bridge across the Thames to connect Pimlico to Nine Elms. Last year Wandsworth council chose Danish architecture and engineering practice Bystrup with Robin Snell Architects to design the new £40m crossing, following a competition that received just over 70 submissions from around the world. [...]
Bank of England talks with EU continuing as it urges no-deal Brexit preparation October 17, 2018 A top Bank of England official today said talks are continuing with EU regulators to try to persuade them to allow British clearing houses to serve clients on the continent as he warned that job losses in the City will be larger than 5,000 expected by “day one” of Brexit. Sir Jon Cunliffe said that [...]
Glencore chairman withdraws from dwindling Saudi investor conference October 17, 2018 Glencore chairman Tony Hayward has become the latest business leader to pull out of next week's Saudi investor conference as the backlash over the alleged murder of journalist Jamal Khashoggi intensifies. The mining and trading giant's chairman joins International Monetary Fund managing director Christine Lagarde and Societe Generale chief executive Frederic Oudea in withdrawing from [...]
Uber considers minority stake sell-off for self-driving unit October 17, 2018 Uber is reportedly considering multiple offers for minority shareholdings in its self-driving unit, as the company attempts to resolve any high-cost ventures before it goes public next year. Sources told the Financial Times that Uber had received interest from several investors looking to buy a minority stake in its Advanced Technologies Group (ATG), which could see [...]
Morrisons finance boss rewarded with promotion in wake of turnaround plan October 17, 2018 The finance chief of Morrisons – who has helped steer the once-embattled supermarket group into steady growth – bolstered his role today after taking on new responsibilities at the retailer. Trevor Strain is taking on extra duties as commercial director in a promotion that sees him strengthen his position underneath boss David Potts. Having led [...]
Apple taps US design tech Ember to track caffeine intake as it launches in the UK October 17, 2018 Design tech firm Ember has launched with Apple to monitor caffeine consumption inside the Health app using its smart mug, as the company arrives in the UK as part of its international expansion drive. Ember, the maker of a ceramic mug which uses heat control technology to keep drinks at a desired temperature, will now appear as [...]
Jeremy Corbyn slaps down Emily Thornberry for using Brexit to defend John Bercow October 17, 2018 Jeremy Corbyn today slapped down one of his closest allies for using Brexit to defend under-fire Speaker John Bercow – but stopped short of calling for him to quit. On Monday, shadow foreign secretary Emily Thornberry said with Parliament set to play a key role in the Brexit process it was “absolutely not the time” for the Speaker to step [...]