Investors face D-Day in RBS case May 22, 2017 A £125m trial is set to get underway in London today as RBS investors left out of pocket by the bank’s ill-fated 2008 rights issue seek compensation. The case will see Fred Goodwin, one of the most notorious figures of the financial crisis, take the stand. Read more: We’d all be better off if the [...]
Sale is in The Works for stationery retailer at private equity group Endless May 21, 2017 The Works, a discount stationery and books retailer owned by turnaround private equity firm Endless, is readying to be sold or floated next year. Endless has enlisted the help of bank Investec to begin preparing a sale or listing, the Sunday Times reported. Read more: Why 3i is taking a step back from the UK [...]
Bank of England under fire from Lucy Worsley for airbrushed Jane Austen picture on banknote May 21, 2017 The new £10 note featuring Jane Austen is set to come into circulation this year, but Jane Austen aficionados have said the design makes the author look airbrushed. The Bank of England chose a portrait by James Andrews as the basis for the new design. But historian Lucy Worsley told the Sunday Times that it [...]
French Open 2017 prize money: Record reward on offer to Sir Andy Murray and co at Roland Garros May 20, 2017 More prize money than ever before is on offer at this year’s French Open, with the men and women’s singles champions set to earn €2.1m (£1.8m). Yet Roland Garros’ increase in player remuneration is not enough to elevate the tournament from its status as the least-lucrative of tennis’ four majors. The total prize money pool [...]
London City Airport will swap out its control tower as it plans for remote air traffic control to take off May 19, 2017 London City Airport will be the first in the UK to replace its air traffic controllers with a remotely operated digital system. That’s right: bye bye to your typical manned tower. Working with air traffic control services firm Nats, London City has approved plans for a new tower, featuring 14 HD cameras and two pan-tilt-zoom [...]
Investec boss commits to UK after Brexit vote: “We will be there to take advantage of all the others leaving” May 18, 2017 Anglo-South African financial services group Investec is committed to the UK despite uncertainty around Brexit, its co-founder has said. The firm, which has asset management, wealth management and banking divisions, currently has a headcount of around 3,900 in the UK and 5,000 in South Africa. Since the UK voted for Brexit last year, banks and [...]
Hong Kong food giant Lee Kum Kee could be buying London’s Gherkin skyscraper May 18, 2017 A Hong-Kong based food giant is mulling a bid to buy the City’s Gherkin tower. Lee Kum Kee, which sells oyster sauces and condiments, has approached the Brazilian owners of the group about snapping up the skyscraper. The group is considering an offer for at a yield of less than four per cent and is [...]
LightwaveRF share price jumped 77 per cent on Google Assistant launch May 18, 2017 Smart home tech firm LightwaveRF’s share price soared today after revealing its entire product range had been added to Google Home’s voice controlled Google Assistant. Shares in the Aim listed group climbed as much as 77.4 per cent mid-morning, dropping back to 54 per cent at pixel time. Read more: Now you can do your [...]
Crossrail 2 could be derailed by the General Election as approval is left to next government and Conservatives leave it out of their manifesto May 18, 2017 The future of Crossrail 2 could be pushed off track by the General Election, as the government does not intend to give the £30bn project’s business case the go-ahead by the end of this month. The Conservatives also left out any mention of a commitment to the project in today’s manifesto. Crossrail 2 boss Michele [...]
City A.M. Unregulated podcast: How to be an email hero – learn to write great marketing emails and clean up your inbox in the process May 18, 2017 Lost control of your inbox? Getting pathetic responses to your marketing emails? The City A.M. Academy for People Who Can’t Email Good is here to help. We’re joined this week by Martin Perry, the man behind Taming Your Inbox, and Jon Buchan, the founder of Charm Offensive, to talk everything email, from getting on top [...]