Goldman Sachs will have two EU hubs after Brexit, says Lloyd Blankfein November 20, 2017 Goldman Sachs will have hubs in both Paris and Frankfurt after Brexit, the bank’s boss has said. In an interview with French newspaper Le Figaro, Lloyd Blankfein said the bank will have centres in “the two largest European economies”, according to the Financial Times. “We will have more employees on the continent,” he said. “After [...]
Bell Pottinger Middle East arm bought by London-headquartered PR firm Hanover Communications | City A.M. November 20, 2017 Bell Pottinger’s Middle East arm has been bought by PR rival Hanover, it was announced this lunchtime. The sale was negotiated by Bell Pottinger group administrator BDO after the PR giant collapsed in September. Hanover founder and chief executive Charles Lewington said: “Bell Pottinger Middle East is a terrific business with a talented, professionally run [...]
Ministers poised to sign off new Brexit bill offer November 20, 2017 Ministers are poised to sign off a new offer to the EU as the UK tries to push forward negotiations over the Brexit bill, according to reports. Theresa May has already offered to pay €20bn to the bloc, however, this falls short of the EU’s demand for a €60bn divorce settlement. Read more: Barnier: City [...]
Will Budget 2017 affect UK house prices? Here’s what Philip Hammond’s Budget will mean for property sales November 20, 2017 As with most Budgets, this Wednesday’s fiscal extravaganza has been heavily trailed by the government – so it should come as a surprise to few that one of the main focuses is expected to be solving the UK’s housing crisis. In advance of the speech, Theresa May has hinted at policies to “build more houses, [...]
Brexit negotiator Michel Barnier says City firms will lose financial passports when UK leaves EU November 20, 2017 The EU’s Brexit negotiator Michel Barnier has said that City firms will lose their financial passports when the UK leaves the EU. Speaking at a Centre for European Reform conference, Barnier said: “On financial services, UK voices suggest that Brexit does not mean Brexit. Brexit means Brexit. Everywhere.” He added: “They say there will be [...]
British Gas Owner Centrica is scrapping standard variable tariff (SVT) for new customers as it plans pricing overhaul November 20, 2017 British Gas owner Centrica has announced it is ditching the standard variable tariff for new customers by April, amid a range of measures it says well help reform the energy market more than the introduction of price caps. The firm said it will also encourage customers to move away from the SVT, and will contact [...]
Forget the Night Tube: Night Overground services start in east London on 15 December between New Cross Gate and Dalston Junction November 20, 2017 We heard back in July that Night Tube services were coming to the Overground, and now we have an official date. Night Overground services kick off in east London on Friday 15 December, with 24-hour services operating on Friday and Saturday nights on the London Overground between New Cross Gate and Dalston Junction, extending to [...]
Mitie Group share price drops as it reveals another FRC investigation and announces drop in profit and revenue November 20, 2017 Mitie Group has revealed the accounting watchdog has opened another investigation into the group’s financial statements, as it unveils its first half results. The figures Revenue was up four per cent in the first half of 2017, from £922.6m to £959.7m. Operating profit dropped 38.1 per cent to £14.8m from £23.9m. Basic earnings per share [...]
Most businesses are about to plough cash into artificial intelligence November 20, 2017 Most businesses are planning to plough cash into artificial intelligence over the next two years as just one in ten leaders believes the UK to be a world leader in digital. Some 85 per cent of the more than 50 organisations surveyed by Deloitte, which collectively are worth more than £200bn, said they will invest [...]
The Conservative party must fight back against John McDonnell’s brand of Labour lunacy November 20, 2017 At the time of John McDonnell’s elevation to Labour’s front bench in September 2015, the veteran left-winger was better known for praising the “bravery and sacrifice” and “the bombs and the bullets” of the IRA than for any coherent economic policy. However, his personal website at the time contained a basic manifesto calling for a [...]