London retains financial services crown: City extends lead over New York, Hong Kong and Singapore in international ranking by Z/Yen September 11, 2017 London has maintained its position as the world’s number one global financial centre, according to a major international study out today, extending its lead over rivals New York, Hong Kong and Singapore. However, City chiefs have warned that London’s supremacy will come under threat if the government does not secure the right kind of Brexit [...]
Brexit talks: Legatum Institute presses for new “inclusive” relationship in UK talks over Irish border September 11, 2017 The UK must seek a deal on the Irish border that promotes an “open and inclusive” relationship with the Republic of Ireland after Brexit, a report has found today. British and EU negotiators have prioritised the issue of the Irish border in talks to mitigate fears of a return to violence in the region if [...]
Feeling adventurous: UK private equity firm Inflexion buys Virgin Experience Days September 11, 2017 Private equity firm Inflexion is seeking to cash in on the growing consumer demand for experiences with the purchase of Virgin Experience Days. Virgin Experience Days arranges one-off adventure days for consumers and businesses such as Spitfire flying and supercar driving. The company sells more than 750,000 experiences a year, making revenues of around £50m. [...]
Hurricane Irma slams into Florida as losses could soar to $200bn September 11, 2017 More than 6m people have been ordered to evacuate and over 2.4m homes and businesses were left without power as Hurricane Irma battered Florida’s west coast yesterday. The storm lashed the so-called sunshine state with sustained winds of 130mph, leaving at least three people dead. The hurricane struck Miami with huge force, causing widespread flooding [...]
MPs to review baby nuclear reactor plans as cheaper source of secure energy September 10, 2017 A consortium developing small modular reactors is expected to urge the government to push forward with a plan to develop so-called baby reactors to secure the UK’s energy needs after the decommissioning of older nuclear power stations. The government launched a competition to find the best value SMR reactor design for the UK in 2016, [...]
Taxify boss criticises Transport for London after botched launch of ride-hailing Uber alternative September 9, 2017 The chief executive of ride-hailing app Taxify has criticised “hostile” London transport authorities who forced his firm to stop operating less than a week after it launched in the capital. Markus Villig, Taxify founder and chief executive, said he had been “surprised” by the “most hostile regulatory body we have ever encountered”, accusing Transport for [...]
City A.M.’s Lawson Muncaster abseils down Leadenhall Building for the Lord Mayor’s Appeal September 8, 2017 City A.M. co-founder Lawson Muncaster abseiled down London’s Leadenhall Building – more affectionately known as the Cheesegrater – this morning, in aid of The Lord Mayor’s Appeal. For the third year in a row, Muncaster plunged over the edge of a tall City of London building to raise money for The Lord Mayor’s Appeal, alongside [...]
Prime Minister Theresa May on Geoffrey Boycott, Margaret Thatcher, Donald Trump and the fact she is “not a robot” September 8, 2017 Prime Minister Theresa May today insisted she is “not a robot”, following criticism over her wooden performances during the General Election campaign earlier this year. Speaking on BBC’s Test Match Special, May revealed how cricketing legend Geoffrey Boycott holds a special place in her heart, discussed a meeting with Margaret Thatcher and explained the real [...]
Direct Line rings in the changes by poaching Prudential risk chief as new finance head September 8, 2017 Insurer Direct Line has nabbed a top executive from Prudential to be its new finance chief. Penny James will succeed John Reizenstein as Direct Line’s chief financial officer, formally starting the job in March next year. James is currently the Pru’s chief risk officer, having previously worked in a number of positions in the insurance [...]
Editor’s Notes: End of the road as Bell Pottinger shuts up shop, Jeremy Corbyn’s Venezuela shame and Old McDonnell had a strike September 8, 2017 For staff at Bell Pottinger the weekend probably can’t come soon enough. The disgraced PR firm’s fall from grace and into likely administration has been breathtakingly fast. For the 200 UK employees, the vast majority of whom had nothing to do with the scandal that sank the company, an uncertain few weeks await them. Some [...]