London Sports Festival moves from 3×3 basketball success to pickleball at the City of London Corporation’s Guildhall Yard
Hedge fund tycoon Alan Howard brushes off poor performance with impressive rally in the AH Fund June 6, 2018 Hedge fund billionaire Alan Howard, the co-founder of Brevan Howard, has made an impressive comeback after a lengthy spell of lacklustre performance. Brevan Howard's $2.3bn (£1.7bn) AH Fund, managed by Howard, rose 36.7 per cent in May to bring total year-to-date returns to 44.3 per cent, according to a source close to the firm. The [...]
Government taps former Citigroup boss to lure overseas investors June 6, 2018 Citigroup banker Mark Slaughter has been appointed by the government to spearhead efforts to attract more investment into the UK. The Department for International Trade (DIT) has brought Slaughter on as director general for investment. He is currently Citigroup's global corporate and investment banking vice chairman and will join the department next week, charged with [...]
Top City regulator Andrew Bailey criticises TSB and chief executive Paul Pester following IT meltdown June 6, 2018 Top City watchdog Andrew Bailey has criticised TSB and its chief executive for poor communication following the IT meltdown which left thousands of customers without access to their accounts for weeks. The Financial Conduct Authority (FCA) boss wrote that the regulator is “dissatisfied with TSB’s communications with its customers”. TSB’s “poor” communications could “reduce trust [...]
Ranked: London boroughs with the biggest increase in new property listings June 6, 2018 New property listings were up 7.4 per cent in May, with London seeing a 5.9 per cent increase in the number of new properties on the market. May therefore saw the the highest number of new sellers list their properties in any single month since before 2017, according to online estate agents HouseSimple. The figures [...]
Brexit white paper delayed until after European Council summit June 5, 2018 A government white paper expected to set out "ambitious and precise" details of the UK's position on Brexit is not expected to be published ahead of the European Council summit this month. The document – which is seen as critical by business groups trying to get a handle on the UK's negotiating position, as well [...]
The Sultan of Brunei has made the country’s first investment in a UK listed company, ploughing £20m into Graze backer Draper Esprit June 5, 2018 The Sultan of Brunei, Hassanal Bolkiah, has made the country's first investment in a UK listed company, writing a £20m cheque through the sovereign wealth fund Brunei Investment Agency (BIA) for venture capital firm Draper Esprit. Draper, which has backed businesses including snack box delivery firm Graze and digital bank Revolut, announced last week that [...]
Brexit latest: No deal as expensive as max fac to business, claims HMRC boss Jon Thompson June 5, 2018 A Brexit no deal would cost businesses around £20bn a year, HMRC boss Jon Thompson has claimed, as he doubled down on the estimates that max fac would do likewise. Speaking to the Treasury Select Committee this morning, Thompson told MPs he was confident in his statements from a fortnight ago that suggested the max [...]
Samsung selling Commerzbank’s £425m London HQ June 5, 2018 Samsung Life Insurance, the South Korean investment manager, is selling the London headquarters of Germany's Commerzbank for £425m. Samsung is being advised by DWS in the sale of the 400,000 square foot (sq ft) building at 30 Gresham Street, which sits not far from the Bank of England and overlooks the Guildhall. Originally constructed by [...]
Deloitte announces reduced UK partner promotions round June 5, 2018 Big four accountant Deloitte has announced a reduced 2018 partner promotions round with the number making the grade in the UK and north west Europe both dipping. Partner promotions in the UK fell five per cent from 57 last year to 54 in 2018. The number and percentage of new female partners in the UK [...]
Culture minister Matt Hancock confirms Sky-Fox deal can proceed as long as Sky News is divested June 5, 2018 Culture secretary Matt Hancock has confirmed that the Sky-Fox merger can go ahead, as long as Sky News is divested to Disney or another firm. If an "acceptable form of remedy" can be found, the minister said he would wave it through. Hancock said he agreed with the Competition and Markets Authority (CMA) that there [...]