Prime Minister Theresa May will be grilled by MPs after December’s European Council meeting November 14, 2017 Theresa May is to be grilled by a committee of MPs days after the critical December European Council meeting, where the EU27 will decide whether “sufficient progress” has been made on Brexit talks. The liaison committee, which is composed of the chairs of the other select committees, is the only one with power to call [...]
Meggitt’s chief executive Stephen Young is set to retire in 2018 as revenue growth flatlines November 14, 2017 The chief executive of aerospace and defence firm Meggitt will retire at the end of April 2018 amid a slower ramp up of the firm’s new civil programmes. Stephen Young will leave after five years in the role and will be succeeded by current chief operating officer Tony Wood on 1 January. In a trading [...]
Kantar figures: Lidl maintains position as UK’s fastest growing grocer as Sainsbury’s outpaces Big Four November 14, 2017 Lidl has kept its crown as the UK’s fastest growing grocer for a fifth quarter in a row, as Sainsbury’s becomes the best performing of the Big Four. Figures published by Kantar Worldpanel this morning show that sales were up 15.1 per cent at Lidl in the 12 weeks to 5 November, with 10.6m households [...]
Japanese lender Mitsubishi UFJ creates nearly 200 new investment banking jobs in London November 14, 2017 Japan’s biggest bank – and the world’s fifth largest – gave London a big vote of confidence overnight by announcing nearly 200 new investment banking jobs in the capital. Mitsubishi UFJ is to expand European operations in the hope of boosting income outside of Japan, according to reports. The Japanese lender has hired 180 staff [...]
City A.M. Unregulated podcast: What James Bond can teach you about business November 14, 2017 Sara Fazlali is the founder of Secret Me, teaching CEOs, celebrities and the super-rich how to be James Bond in an ultra-luxe setting. She says skills like negotiation, poker and even seduction (ooo-err) can make you better at your job. If you like this week’s episode, please subscribe and give us a review on Spotify, [...]
Don’t pack up your portfolios yet, Christmas has come early November 14, 2017 With 41 days to go, it seems Christmas has come early this year for many investors. The returns in 2017, at least for equity investors, are staggering. The DAX, a blue chip index consisting of the 30 major German companies, is higher by some 16 per cent since the start of the year. The S&P [...]
Candy Crushing it: As King’s jewel in the crown turns five City A.M. speaks to game artist Sandra da Cruz Martins November 14, 2017 Look around any public space these days and you’re guaranteed to see a lot of people focused firmly on their smartphones. They might be reading, texting or even Tindering. But chances are, a lot of them will be playing Candy Crush. The addictive game, centred on moving colourful pieces of “candy” into different formations, gained [...]
Insurance megadeals driving surge in M&A deal value November 14, 2017 An increase in the number of insurance megadeals drove a surge in the total value of mergers and acquisitions (M&A) activity, according to data to be published today. Total deal value rose by 170 per cent between the first half of 2016 and the first half of 2017, a survey by Willis Towers Watson and [...]
The Trump bump: What the US President has meant for markets November 14, 2017 Last week marked one year since Donald Trump was elected President of the United States, and in that time US equities have reached almost unprecedented highs. Much has been made of the so-called Trump bump; however, the key question is how much of this positive sentiment can truly be attributed to the policy plans of [...]
DEBATE: Was the tribunal right to rule that Uber drivers are workers, not self-employed? November 14, 2017 DEBATE: Was the tribunal right to rule that Uber drivers are workers, not self-employed? YES – Frank Field, Labour MP for Birkenhead. The appeal tribunal must have been trying hard not to laugh Uber out of the room last week. The idea that the company engages on level terms with tens of thousands of independent [...]