Where things stand one year after BHS went into administration April 25, 2017 BHS was almost 90 years old when it went into administration a year ago today, but all that remains of its legacy now is a string of empty shops and an online store. When retail tycoon Sir Philip Green sold the chain for just £1 to serial bankrupt Dominic Chappell in 2015, he set off [...]
General Election 2017: Delivering Brexit isn’t enough: The Tories need a pro-growth vision for Britain April 25, 2017 The 8 June General Election is being viewed through the prism of Brexit. In one fell swoop, it is said that Theresa May can quash holdout Remainers, manage her party’s competing visions of Brexit, and improve her Brussels negotiating strength. Add to that giving herself until 2022 to implement a deal before fresh elections, and [...]
Responsible Business Week 2017: Business must use technology responsibly or risk exacerbating society’s divides April 25, 2017 Some people might think that Responsible Business is a contradiction in terms; that this week’s Business in the Community Responsible Business Week will leave companies free to act as selfishly as possible on the other 358 days of the year. I certainly don’t believe that’s how it works. And yet we are living in a [...]
Financial and professional services industry contributes £176bn to the UK economy April 25, 2017 Financial and related professional services workers contribute 1.5 times more to the economy than the average UK employee, a new report today reveals. Financial services employees contribute £79,500 gross value added (GVA), above the average of £52,000 across other sectors. A report from TheCityUK today also reveals that the industry makes up 10.7 per cent [...]
Wembley and Gherkin architect Norman Foster given freedom of the City of London | City A.M. April 24, 2017 The British architect behind some of the world’s most iconic buildings has been given the freedom of the City of London. Norman Foster was today presented with the accolade at a ceremony at Guildhall in recognition of his outstanding contribution to contemporary architecture. Read more: These two new stunning buildings will join the London skyline [...]
Oxford Street transformation to get underway by December 2018 as TfL and Westminster City Council launch consultation April 24, 2017 The transformation of Oxford Street is planned to start by the end of next year, as Westminster City Council and Transport for London (TfL) today launch a consultation on the development. The consultation considers moves such as removing access for taxis, saying it would “increase the extent” to which Oxford Street could be transformed. Currently, [...]
A victory for centrist and EU-phile Emmanuel Macron could ultimately be good for Brexit April 24, 2017 The result of the first round of voting in the French presidential election pits centrist, pro-European Emmanuel Macron against the hard right, eurosceptic Marine Le Pen. Macron is expected to win the second round comfortably, with most polls suggesting that he will win by roughly 60:40 and betting markets giving him a 90 per cent [...]
London property prices drop by £10,000 in a year as high-end market slumps April 24, 2017 The average price of London property has dropped by nearly £10,000 since this time last year, just as the rest of the country hits a record high. Properties in the capital are now coming to market 1.5 per cent (£9,423) cheaper than a year ago, the biggest fall since May 2009 according to Rightmove’s latest [...]
Mergermarket rebrand fuels speculation of possible sale April 23, 2017 Financial information giant Mergermarket will rebrand this summer, raising speculation among City figures that the company is about to be sold. Mergermarket Group, which is owned by private equity firm BC Partners, provides specialised market news and analysis to a number of top City investment banks, hedge funds and law firms. Read more: Mergermarket continues [...]
Jupiter Asset Management face backlash after proposed 50 per cent pay increase for CEO April 23, 2017 Jupiter Asset Management is under fire from its shareholders after attempting to give a lavish pay increase to its boss. The planned 50 per cent pay rise for Maarten Slendebroek was pulled after a number of institutions objected to it. Read more: Corporate governance experts slam executive pay ahead of shareholder votes Jupiter planned to [...]