Bank junction traffic ban: Mytaxi calls on the City of London Corporation to rethink the 18-month closure over disruption concerns May 22, 2017 The boss of e-hailing taxi app Mytaxi has written to the City of London Corporation calling for today’s closure of Bank junction to be reassessed amid concern over the disruption it will cause. In the letter, seen by City A.M., Mytaxi general manager Andy Jones calls for a regular review of the trial period, which [...]
CISO salaries top €1m as cyber attacks fuel demand for information security experts on boards | City A.M. May 22, 2017 Salaries for Chief Information Security Officers (CISOs) at top European firms have topped €1m (£850,000) as the threat of data breaches grows. A rise in the number of cyber-attacks in the past five years has made the role of cyber-security experts increasingly important in the boardroom, according to global executive search firm DHR International. Read [...]
Big Data will never replace Big Ideas: Why cultural intelligence matters May 22, 2017 Whether it’s big data scores, over-hyped Silicon Valley apps, or the panacea of artificial intelligence, the world is fixated on the possibilities of algorithmic knowledge. This will prove to be a costly mistake for business. The greatest challenges and opportunities of the coming century will all be cultural. Major companies like Intel, Ford, and IBM [...]
UK jets off with private plane fleet | City A.M. May 22, 2017 The UK has been ranked as the third-largest home in Europe to private jets, with more than 200 such aircraft registered within its jurisdiction. With 223 business jets registered in the UK as of April, according to aircraft retailer Colibri Aircraft, the country ranks behind Germany and the Isle of Man, which boast 404 and [...]
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 [...]