The International Regulatory Strategy Group has unveiled a blueprint for a post-Brexit free trade deal to support the financial services sector September 26, 2017 The government is being urged to adopt a “bold and ambitious” plan for a post-Brexit trade deal, revealed this morning by an elite taskforce of City experts. The detailed proposals will be published in Brussels ahead of the group’s whirlwind tour of the continent, during which it hopes to convince EU politicians of the benefits [...]
Q&A: What does the new Brexit blueprint actually mean for the City’s future? September 26, 2017 City A.M. answers the need-to-know questions behind the City’s key Brexit report. Why is this necessary? In January Prime Minister Theresa May announced the UK will leave the EU’s Single Market after Brexit, in the biggest upheaval in trade between Britain and Europe since the UK joined. For the City’s financial services firms wishing to [...]
Former Conservative politician Andrew Tyrie urged to stand for top job at City watchdog September 25, 2017 Senior figures in the financial services sector are attempting to persuade the former chairman of parliament’s Treasury Select Committee to apply for a top job at the Financial Conduct Authority, according to Sky News. Andrew Tyrie, who was previously Conservative MP for Chichester for 20 consecutive years until he stepped down in April, has reportedly [...]
The UK is unlikely to see wage growth any time soon, according to a new report from Hays September 25, 2017 UK real wages, which take into account rising inflation, are forecast to fall in 2017 according to a new report from recruitment group Hays. The diminishing real wages, prompted by a growing labour force and rising inflation, have led to lower wage pressure. This in turn has made it slightly easier for firms to attract [...]
Uber challenger Via has been waiting months for a licence from Transport for London and is raring to launch September 25, 2017 A startup taking on Uber in London has spoken of “frustrating delays” in its efforts to get permission to operate in the capital after months of waiting and no sign yet of getting the green light. Via is the latest ride hailing startup to add its voice to concerns over the lack of engagement from [...]
Brewdog gets ready for another raise with “equity for punks” crowdfunding round five September 25, 2017 Brewdog is set to open up its business to equity crowdfunding once again, as the brewery calls on ordinary people to invest in the business. Brewdog hopes that the fifth “equity for punks” raise will bring in an extra £90m, which founder James Watt says is needed for expansion. “Our plan is to try to [...]
Bank of England to make banks add £10bn buffer to cover consumer credit and warns on Brexit derivatives risk September 25, 2017 The Bank of England today issued its strongest warning yet on the fast-expanding consumer credit sector, with financial stability experts at Threadneedle Street saying banks must hold another £10bn to cover potential losses. Losses across the whole consumer credit sector could reach £30bn – £10bn higher than previous estimates – under the stress test scenario [...]
Apple, Google and Microsoft top list of the 100 most valuable brands September 25, 2017 Apple and Google have once again take the two top spots in a list of the world’s 100 most valuable brands, according to rankings by consultancy group Interbrand. Five UK firms made into into the 2017 best global brands list. These were Burberry, HSBC, Land Rover, Smirnoff and Johnnie Walker. This is the fifth consecutive [...]
Wetherspoon’s goes green with vow to stop using plastic straws | City A.M. September 25, 2017 Wetherspoon’s and its senior management have taken stands on several issues over the years. Chairman Tim Martin is still expounding his views on Brexit, and last week all 900 pubs reduced prices in protest against the tax burden on pubs. Now the chain has turned to an even more pressing issue: plastic straws. The company [...]
Angela Merkel wins German election but far right AfD makes gains September 25, 2017 Angela Merkel has hung on as Germany’s Chancellor, winning a fourth term in office in the country’s general election this weekend, but far right party Alternative for Germany (AfD) made significant gains in the vote. Merkel’s Christian Democratic Union (CDU) party won 33 per cent of the vote, followed by rivals Social Democrat (SPD), with [...]