US President Donald Trump bins UK visit after “peanuts” embassy sell-off January 12, 2018 Donald Trump has scrapped a trip to the UK in February after blasting plans to sell off the US embassy in London. The US president took to social media this morning saying the iconic Grosvenor Square building had been sold off for “peanuts”. A $1bn (£740m) new US embassy, first announced by George Bush and [...]
City Moves for 12 January 2018 – who’s switching jobs at Glenny, Belstaff and Fever-Tree? January 12, 2018 Today’s City Moves cover investing, fashion and soft drinks. Take a look at these movers and shakers: Glenny Glenny has announced a high-profile senior appointment, making Philip Colman a divisional partner in its investment team. He has over 10 years’ experience working in the London and the south east business space markets with a focus [...]
It’s all about the midterms: Donald Trump is a wildcard, and Congress hangs in the balance January 12, 2018 At the very end of 2017, the Republican party finally passed its first major piece of legislation since the Trump administration came to power. After a year in which its opponents criticised it again and again for a lack of new policies, the party managed to push through the biggest overhaul of the tax system [...]
Tech isn’t enough to solve the productivity crisis – we need a flexible working revolution January 12, 2018 Productivity has long been front of mind for British industry, with firms up and down the country still working to solve this complex and evolving puzzle. And new research published this week – commissioned by Citrix and carried out by Lancaster University’s Work Foundation – has found worrying tensions between productivity and the adoption of [...]
The City of London is bracing itself for a raft of UK retail collapses in 2018 January 12, 2018 Retailers painted a gloomy picture of the high street this week as several big names failed to cash in on the Christmas shopping season. Gloomy financial updates from household favourites such as Marks and Spencer (M&S), Debenhams, and House of Fraser prompted analysts to signal several retail collapses may be on the cards in 2018. [...]
London on Saudi Aramco listing shortlist along with Hong Kong and New York say reports January 11, 2018 London has made it onto the shortlist for potential listing venues for Saudi Aramco, as the state-backed oil giant looks to list in late 2018, according to reports. New York and Hong Kong are also on the shortlist, with a dual- or even triple-listing on the cards, according to Reuters. Saudi Arabia’s Tadawul exchange will [...]
Ex-Barclays boss Bob Diamond not among digital challenger bank Tandem’s new investors January 11, 2018 Former Barclays boss Bob Diamond will not be making a return to British retail banking, having ruled out taking a stake in digital challenger Tandem. Diamond’s Atlas Merchant Capital had been one of several potential investors in talks with the fintech company in recent months, but is not part of a new funding round that [...]
Tottenham won’t sell stars like Harry Kane this summer, vows chairman Daniel Levy January 11, 2018 Tottenham chairman Daniel Levy has moved to reassure fans that they will resist any offers from Europe’s biggest clubs for record-breaking marksman Harry Kane this summer. Kane’s relentless goalscoring has made the England striker one of the game’s hottest properties and Real Madrid, who paid £85m to prise Gareth Bale from White Hart Lane in [...]
Euro jumps against US dollar (EURUSD) as European Central Bank minutes hint at response to booming growth January 11, 2018 The European Central Bank (ECB) today revealed it may adopt a more positive tone on the recent strong expansion in the European economy, with investors taking the move as a hint that policymakers will consider winding back their massive stimulus programme. The ECB’s policymakers could change “language pertaining to various dimensions of the monetary policy [...]
Banks expect significant tightening in consumer lending in first quarter says Bank of England survey January 11, 2018 British banks are planning to rein in their lending to consumers further over the first quarter as regulators’ efforts to raise lending standards start to bear fruit. Lenders expect a “significant decrease” in the availability of unsecured credit – such as consumer loans and credit cards – in the first quarter of this year, according [...]