ECB’s Sabine Lautenschlaeger urges banks to speed up Brexit relocation planning: “The clock is ticking” August 16, 2017 The European Central Bank (ECB) is urging firms to speed up their relocation plans in preparation for Brexit. Sabine Lautenschlaeger, vice chair of the ECB’s supervisory board, said banks are “not as far advanced as we would like them to be” in their Brexit planning. “I have a very clear message to both smaller and [...]
City jobs rose in July as firms took a “robust” attitude towards hiring August 16, 2017 The number of jobs in the City of London increased by 37 per cent in July compared with the same time last year, according to one of the UK’s largest recruiters. Robert Walters’ latest city jobs index, seen exclusively by City A.M., found that job volumes were also up 17 per cent compared with June. [...]
DEBATE: Should we take Jacob Rees-Mogg seriously as a leadership contender? August 16, 2017 DEBATE: Should we take Jacob Rees-Mogg seriously as a leadership contender? YES – Laura Perrins, co-editor of The Conservative Woman. It’s time for the Conservative party to drop the wishy-washy failed mantra of the middle ground. Not only is it a risky election strategy, it is morally bankrupt. Jacob Rees-Mogg is a classic constitutional conservative [...]
A ‘truly global Britain’ would abolish air passenger duty August 16, 2017 Airlines play a fundamental role in connecting the UK to the world. Businesses require passenger and freight services so they can operate and invest in the UK, as well as export goods to global markets. At the same time, millions of Brits each year depend on airlines to connect them with loved ones and enjoy [...]
IMF: China debt levels could lead to “crisis” if government does not act to deflate credit boom August 15, 2017 The surge in debt in China has the potential to cause a major crisis without “decisive policy action” to deflate an ongoing credit boom, the International Monetary Fund (IMF) warned today. In a report on risks facing the world’s second largest economy, the IMF said the rapid expansion in credit in recent years has helped [...]
Bill Gates gives away $4.6bn in Microsoft shares to the Bill and Melinda Gates Foundation charity August 15, 2017 Bill Gates has given away $4.6bn (£3.6bn) in shares in Microsoft, in his biggest charitable donation since 2000. The world’s richest man gave away 64m shares in the firm to the Bill and Melinda Gates Foundation, the development charity he runs with his wife, in June, according to a filing to the US regulator, the [...]
Brexit: Estonia is ramping up efforts to woo British entrepreneurs with e-residency August 15, 2017 The small but innovative eastern European country of Estonia is planning on ramping up its efforts to woo British entrepreneurs after Brexit. More than 800 people from the UK have applied to become e-residents of Estonia since the country voted for Brexit, fresh figures seen exclusively by City A.M. reveal. And that figure could be [...]
Ed Sheeran’s former college The Academy of Contemporary Music grabs a £2.4m peer-to-peer loan from ThinCats | City A.M. August 15, 2017 The Academy of Contemporary Music (ACM), which counts Ed Sheeran, Newton Faulkner and Kate Nash among its alumni, has secured a £2.4m loan from peer-to-peer lender ThinCats. Following Sheeran’s success, ACM has seen a surge in interest from potential students. The academy will use the funding to expand and double its student numbers, as discussions [...]
George Soros’s investment firm Soros Fund Management is betting on Trump to fail as it takes on new holdings which could benefit from a downturn August 15, 2017 Soros Fund Management, the investment management firm founded by prominent Democratic Party donor George Soros, appears from its latest filings to be betting on US President Trump to fail. The firm has recently taken up put options on PowerShares QQQ Trust, SPDR S&P 500 ETF and iShares Russell 2000 Index Fund, it was revealed in [...]
London house prices: Mayor of London Sadiq Khan invests £25m in Pocket Living to build homes for first-time buyers August 15, 2017 Mayor of London Sadiq Khan is investing £25m into Pocket Living, a developer which uses modular construction to build affordable homes. The investment will help Pocket create 1,059 new one- and two-bed flats for first-time buyers. It sells its homes at 20 per cent below the market rate to first-time buyers living in the borough. [...]