Rosenblatt appoints broker Cenkos Securities as it looks to become the fourth English firm to float March 29, 2018 City law firm Rosenblatt has engaged broker Cenkos Securities as it looks to become the fourth English law firm to go public. City A.M. revealed earlier this month that the firm was considering a London initial public offering (IPO), something which now looks increasingly likely following the appointment of Cenkos. Read more: Exclusive: City law [...]
Deutsche Bank: John Cryan finds it tough at the top of Germany’s totemic lender | City A.M. March 28, 2018 How do you recruit for the banking world’s hardest job? Deutsche Bank chair Paul Achleitner is probably wishing he had gone about it somewhat differently, after news of informal approaches, not denied by the bank, leaked. The role he wants to fill, chief executive, has proven problematic for the best part of five years, with [...]
Shirt pull: Classic football kits have never been bigger business thanks to the 90s fashion boom and looming World Cup March 28, 2018 During this summer’s World Cup you will be nearly as certain to spot a football fan sporting a France shirt from 1998 or West Germany’s block-patterned effort from 1990 as you are to see someone kitted out in the latest England kit. Vintage football shirts have not only become commonplace at stadiums, in the pub, [...]
Spotify float still set to top Snap and Twitter amid tech sell-off March 28, 2018 Spotify is expected to be worth $26bn (£17bn) at the end of its first day of trade next week, more than social media platforms Snap and Twitter, according to IG client accounts. IG’s grey market, which allows traders to speculate on the music streaming giant’s market capitalisation at the end of its first day of [...]
Google to pay nearly £50m to the Treasury as EU mulls new tax plans March 28, 2018 Tech giant Google will pay almost £50m in tax to the Treasury this year, up from a sum of £36.4m in 2017. The firm revealed in its annual accounts that it would pay UK corporation taxes of £49.3m on operating profits of £202.4m. “As an international business, we pay the majority of our taxes in [...]
Bank of England tells financial firms it’s business as usual during Brexit transition March 28, 2018 The Bank of England said today that financial firms should take a business as usual approach and assume they will be able to carry on operations as normal until the end of the Brexit implementation period. Last week, the EU’s chief negotiator confirmed an agreement had been reached on a Brexit transition deal, which will [...]
Facebook unveils privacy changes in bid to become more transparent after Cambridge Analytica scrutiny March 28, 2018 Facebook said today it will be making its privacy tools easier to find in a bid to boost transparency and improve trust after last week’s furore over the revelations involving Cambridge Analytica. The firm has been embroiled in controversy with Facebook over allegedly using the personal data of 50m users to influence the 2016 US [...]
Our resident chef gears up for the new season with a fresh dinner party recipe: Easter lamb and asparagus salad March 28, 2018 I’d like to say that spring is here, but with the recent weather who knows when we’ll be plunged back into deepest winter; there are rumours of more snow for Easter weekend. Regardless, it hasn’t stopped the sheep doing what comes naturally, and lambs are now frolicking through windswept fields, wondering why they have been [...]
Facebook scandal: European markets hit by Wall Street’s tech sell-off March 28, 2018 European markets are taking a hit today after US tech stocks had their worst day since February 2016 yesterday. Wall Street’s Faangs (Facebook, Apple, Amazon, Netflix and Alphabet’s Google) were battered yesterday over fears of a regulatory crackdown following Facebook’s data scandal. Shares in the social media giant have fallen about 15 per cent this [...]
Businesses set to boost investment and expect price inflation to slow, as effect of sterling’s deprecation wanes – Bank of England March 28, 2018 Businesses surveyed by the Bank of England are expecting price inflation to slow, according to a business conditions summary published today. Input cost inflation, such as rises in the price of raw materials, had eased slightly and businesses regarded the inflationary impact of sterling’s drop in value to have peaked. Of the 308 businesses with [...]