Mayor unveils walking and cycling commissioner to bridge the pedestrian vs cycle superhighway divide December 20, 2016 A Nike director has been chosen by mayor Sadiq Khan as the capital's very first walking and cycling commissioner. Will Norman, currently global partnerships director at Nike, will be tasked with getting London stretching its legs and making non-polluting travel easier. He'll also be working on the development of the capital's cycle superhighways and speaking to [...]
CMA approves McColl’s acquisition of 298 Co-op stores December 20, 2016 Don't you love it when the Competition and Markets Authority (CMA) clears something just in time for Christmas? The CMA has given the green-light to McColl's acquisition of 298 Co-op stores. McColl's intention to take on the stores was first announced back in July, and now that the CMA has approved the deal, McColl's expects [...]
NatWest and RBS mobile banking apps hit by technical problems December 20, 2016 RBS and NatWest have assured customers that its mobile banking is now running as normal after after experiencing technical problems that left people unable to use the service.. RBS had been tweeting customers directly on Twitter saying it is aware of some issues and that it was working to fix them. NatWest, owned by RBS, also experienced [...]
London Stock Exchange enters into exclusive talks with Euronext over sale of French clearing business December 20, 2016 The London Stock Exchange Group has entered into exclusive discussions with rival Euronext over the sale of its French clearing business. And the deal for LCH SA, which could be crucial to the success of the London Stock Exchange’s mega-merger with Deutsche Boerse, could still be agreed this side of Christmas, City A.M. understands. The London Stock [...]
Flybe’s heading to Heathrow as it unveils new Scottish flights from Aberdeen and Edinburgh to the London airport December 20, 2016 Here's a nice early Christmas present for fans of Flybe. The airline has announced new regular flights from Aberdeen and Edinburgh to London Heathrow, which it says will be the first time it has served the largest London airport. Starting from 26 March 2017, there'll be up to 18 flights a day between London and [...]
Kier Group drives ahead with £140m Highways England maintenance contract win December 20, 2016 FTSE 250-listed construction and engineering firm Kier Group has won a £140m contract to repair and maintain services on a section of the Highways England network. The 15-year contract will commence on 1 April next year and covers a section of road called Area 13, which is located in Cumbria and North Lancashire. Kier will provide [...]
Flybe appoints former CityJet boss Christine Ourmieres-Widener as new chief executive December 20, 2016 Christine Ourmieres-Widener will take the reins at Flybe next year. She has been appointed chief executive, to take over from Saad Hammad, who stood down in October. Ourmieres-Widener will take up the role from 16 January. Her background is in aviation and the travel industry, with stints at Air France and Amadeus France, before she became chief executive of Irish [...]
Italy wants €20bn for bank bailouts as Monte dei Paschi struggles December 20, 2016 The Italian government is seeking parliamentary approval to borrow €20bn (£16.8bn) in order to prop up the country's struggling banks. The first institution in line for a bailout is likely to be the beleaguered Monte dei Paschi, which must get rid of a book of bad loans and raise €5bn in capital by the end [...]
Lloyds Banking Group snaps up Bank of America’s MBNA credit card firm for £1.9bn in first acquisition since financial crisis December 20, 2016 Lloyds Banking Group has beaten off other bidders to snap up Bank of America's UK credit card company MBNA for £1.9bn, in its first acquisition since it was bailed out by taxpayers in 2008. The UK lender emerged as the frontrunner to take over MBNA, which holds assets of £7bn, in late November. The takeover is a [...]
Chief exec eyes Speedy recovery after “tumultuous” 2016 and high-profile activist investor attack December 20, 2016 It has been a tumultuous year for Speedy Hire. And chief executive Russell Down would be one of the first people to say so. The tool and equipment rental business was on the end of arguably the most high-profile activist investor attack of 2016. Toscafund, whose chief executive Martin Hughes has earned the City nickname Rottweiler, issued [...]