Credit Suisse hires Antonia Rowan as head of UK advisory and corporate broking September 5, 2018 Credit Suisse has promoted Antonia Rowan to head the bank's UK advisory and corporate broking business, replacing Lewis Burnett after he was poached by BNP Paribas. Rowan will start her role with immediate effect, according to an internal memo seen by City A.M. and confirmed by a Credit Suisse spokesperson. Rowan joined Credit Suisse as [...]
Property-lending challenger firm Glenhawk lands £75m funding September 5, 2018 Short-term finance disruptor Glenhawk has secured £75m of funding in a sign of the UK’s rapidly growing alternative property-lending sector, City A.M. can reveal today. The latest cash injection from two UK institutions, one of which is Shawbrook Bank, comes six months after the specialist lender launched, having amassed a pipeline of £35m and lent over [...]
John Lewis have it right: changing tastes show retail’s centre cannot hold September 5, 2018 If you look past the shiny new signage on the front of the John Lewis & Partners flagship Oxford Street store, there is a much more interesting change going on inside. The retailer’s new name is not the only way it is signalling pride in its employees. Partners are becoming more visible throughout stores. “While [...]
John Lewis axes jobs amid name rebranding September 5, 2018 Department store chain John Lewis is cutting 300 jobs as part of a back office shake-up, it emerged yesterday. The job losses come as the retailer changes its name to “John Lewis & Partners” in an effort to underline the point that it is owned by its employees. A number of IT, finance and store [...]
Sterling jumps on report Germany and UK could offer key Brexit concessions September 5, 2018 The pound jumped today on reports that Germany and the UK may be prepared to offer key concessions in the Brexit negotiations. Germany and the UK will accept a less detailed deal on the future trading relationship between the UK and the EU in order to secure a withdrawal agreement and avoid a no-deal Brexit, [...]
Facebook partners up with online giants in move into UK property market September 5, 2018 Facebook is to list properties from two of the UK’s largest online estate agent on its website, in a sign that the social media giant is dipping its toes into the UK property market. In a partnership with Facebook Marketplace, Zoopla and OnTheMarket (OTM) both announced yesterday that their UK agents’ home rental property listings [...]
Parliament a no-show for Viagogo as committee chair accuses firm of ‘gross discourtesy’ September 5, 2018 The head of an influential committee of MPs launched a scathing attack on Viagogo today after the controversial ticket resale giant snubbed a parliamentary hearing for the second time in as many years. Damian Collins, who chairs the department for digital, culture, media and sport (DCMS) select committee, slammed the act of non-attendance as a [...]
Volvo dreams up its first driverless electric car September 5, 2018 Volvo has unveiled its first electric self-driving car concept, as it races to meet its own targets of making a third of its car sales autonomous by 2025. Aside from driving around town, Volvo hopes that the 360c could replace short-haul air travel, particularly for routes where the distance travelled is around 300km (186 miles) such as [...]
Philip Day’s Edinburgh Woollen Mill Group ends business with House of Fraser September 5, 2018 The Edinburgh Woollen Mill Group has ended business with House of Fraser due to lack of confidence in the business's future. The company, owned by retail tycoon Philip Day, said it had not been able to agree future trading terms with new owners Sports direct. Concessions for EWM's brands including Jaeger and Jacques Vert closed [...]
Everyman revenues climb higher as cinema chain plots expansion September 5, 2018 Boutique cinema chain Everyman reported soaring revenues this morning as it rolls out to new sites around the UK. The company will open a cinema at the City's Broadgate development next year, making it just the second cinema in the Square Mile after the Barbican. The figures Revenue for the six months to 5 July [...]