Spain over Gibraltar, Argentina over the Falklands: Who will be next to stake a claim in Brexit? April 13, 2017 With Article 50 now triggered, both the UK and the EU are drawing up their opening red lines for the Brexit negotiations. The UK has said that it is ready to walk away from the talks with no deal and base future trade relations with the EU on World Trade Organisation (WTO) rules. There is [...]
Curzon Mayfair cinema saved as developers back off | City A.M. April 12, 2017 The Curzon Mayfair cinema has been saved after developers threatening to sink the historic London venue backed off. Developers 38 Curzon Ltd are converting office space about the venue into luxury flats and complained about noise from the cinema. Their complaints were backed by Vevil International, the building’s owner. Read more: Nearly 18,000 people have [...]
Stephen Hendry interview: Not even Ronnie O’Sullivan can beat my World Snooker Championships record April 12, 2017 Ronnie O’Sullivan may have vowed to chase down his tally of 18 major titles, but snooker legend Stephen Hendry believes that his most enduring achievement is enshrined and will not be surpassed. Hendry, dubbed The King of the Crucible, amassed a trailblazing haul of seven World Championships during a trophy-laden career, the last in 1999 [...]
FTSE 100 investors could lose hundreds of millions as a result of cyber crime share price hits April 12, 2017 Severe cyber attacks have cost global investors at least £42bn in recent years according to a new in-depth study published this morning. Security breaches directly correlate with lower share prices, according to a report from CGI Group and Oxford Economics. It reveals that share prices fall by an average of 1.8 per cent on a [...]
Excessive focus on individual performance is inherently dangerous, says Barry Olliff April 12, 2017 The UK is undoubtedly heading for yet more financial instability. For many, the triggering of Article 50 and the resultant prolonged uncertainty that follows will spring to mind as the primary catalyst. But there is a seldom talked about yet very real danger posed by a more fundamental, institutional problem: the City’s inherently flawed remuneration [...]
Chancellor Philip Hammond asserts importance of immigration for UK fintech April 12, 2017 Chancellor Philip Hammond will today highlight the importance of immigration for maintaining the UK’s fintech crown. Speaking at the UK government’s first international fintech conference today, the chancellor will say Britain needs to “continue to attract the brightest and the best from around the world” in order to stay ahead in fintech. Read more: Brexit [...]
UK banks seeking post-Brexit licence in Europe face six month wait April 11, 2017 UK banks that want to shift operations to the continent after Brexit will encounter a six-month waiting period before receiving their operating licence. The European Central Bank (ECB), which grants licences to banks that operate in the single currency zone, has said on its website that an application to operate in the Eurozone will be [...]
Group of six London pubs sold to the Laine Pub Company for around £4m April 11, 2017 Six London pubs, including The Camden Eye and The Black Lion, Hammersmith, have been acquired by the Laine Pub Company from the New Pub Company. City A.M. understands that the portfolio was sold for close to £4m. Read more: Heineken is investing £20m into its UK pubs Gavin George, chief executive of Laine Pub Company [...]
What Brexit: Venture capital investment in UK startups is up and the future “optimistic”, KPMG Venture Pulse Q1 2017 figures show April 11, 2017 Britain has apparently shaken off the Brexit vote, with fresh figures revealing a rise in investment from venture capitalists. It helps ease concerns that leaving the EU will make the UK an unattractive place to invest and potentially torpedo the technology sector. More than $1bn (£804m) was ploughed into startups in the first quarter of [...]
British Airways owner British Airways owner IAG’s new airline Level has already soared past 100,000 bookings since launching in March April 11, 2017 IAG only unveiled its new low-cost, long-haul airline Level last month. But the new Barcelona-based carrier has already soared past 100,000 bookings as the low-cost, long-haul market heats up. Customers have been snapping up tickets from the Spanish city to LA, San Francisco, Buenos Aires and Punta Cana. Read more: British Airways owner IAG is [...]