Mayor of London Sadiq Khan warns of London brain drain caused by steep house prices in capital March 12, 2018 Sadiq Khan fears London businesses could be hit with a “brain drain” if staff are unable to achieve their ambition of owning a home. The London mayor has warned that top bosses see the housing crisis as the primary barrier to doing business in London. In an exclusive interview with City A.M., Khan said: “The [...]
Woodford cuts Atom Bank stake as Capita and Purblebricks investments take toll on his fund March 11, 2018 Star fund manager Neil Woodford has cut his stake in challenger bank Atom Bank amid a £1bn fall in the value of his flagship fund. Woodford Investment Management declined to participate in Atom Bank’s £150m share issue which was announced last week. Following the rights issue Woodford’s stake in Atom Bank will fall from 20 [...]
Sir Trevor Brooking warns of Premier League relegation should toxic London Stadium atmosphere return in remaining West Ham home matches March 11, 2018 Former West Ham midfielder Sir Trevor Brooking insists the Hammers will be relegated should the toxic climate witnessed during their Premier League defeat to Burnley on Saturday reappear during their final five home games of the season. Brooking condemned the actions of supporters who invaded the pitch and stampeded the area in front of the [...]
AJ Bell lines up £500m London float and appoints Numis, KPMG and Pinsent Masons as advisers March 11, 2018 Broker and investment platform operator AJ Bell has appointed advisers to explore an initial public offering (IPO) on the London Stock Exchange which is expected to value the company at £500m. The float would include a retail share offer available exclusively to AJ Bell’s customers and is set to take place in late 2018 or [...]
Liberal Democrat Vince Cable slammed for “white faces” Brexit slur | City A.M. March 11, 2018 Liberal Democrat leader Vince Cable has been slammed for saying the Brexit vote was driven by a nostalgia for a time “when faces were white”. Speaking at his party’s spring conference today, Cable said young people had been disappointed by the outcome of the EU referendum and that the vote had plunged the country into [...]
UK chancellor Philip Hammond signals an end to austerity March 11, 2018 Philip Hammond has signalled an end to austerity this morning, ahead of his Spring Statement this week. The chancellor has said there is “light at the end of the tunnel”, but that the government will continue to take a balanced approach to spending. Read more: City backs Hammond as he fights back against Tusk Speaking [...]
Ministers face House of Lords Economics Committee grilling over apprenticeship levy criticism and the future of student loans March 10, 2018 Ministers are to face questions from the Lords Economics Committee this week on criticism over the apprenticeship levy, as well as the future of student loans. The House of Lords Economics Affairs Committee will be grilling Anne Milton MP, minister of state for apprenticeships and skills, along with Sam Gyimah MP, minister of state for [...]
Foreign secretary Boris Johnson says Saudi Arabia’s sweeping reform programme is “hugely beneficial” to the UK too March 10, 2018 Boris Johnson said Saudi Arabia’s Crown Prince’s “sweeping reform programme” was “hugely beneficial” to the UK too, following bilateral meetings this week. At the end of a three-day visit from Mohammed bin Salman, the foreign secretary said: The Crown Prince’s sweeping reform programme is bringing positive economic and social changes to the country. These reforms [...]
President Donald Trump says a deal with North Korea’s Kim Jong-un is “very much in the making” March 10, 2018 President Donald Trump said today that a deal with North Korea is now “very much in the making”, after revealing he planned to meet its leader Kim Jong-un. In a tweet today, the President said: “The deal with North Korea is very much in the making and will be, if completed, a very good one [...]
GKN seals $6.1bn Dana auto tie-up deal to dampen Melrose takeover hopes March 9, 2018 Engineering giant GKN, which is currently trying to fend off a £7.4bn bid from turnaround investor Melrose Industries, today confirmed it had reached an agreement to merge part of its business with Dana. The FTSE 100 firm has agreed to merge its auto parts business with the US firm in a deal worth $6.1bn (£4.4bn). [...]