How a recent float in Qatar became a target in a wider regional dispute : CityAM February 28, 2020 Business is becoming more politicised. Rising nationalism, activism, and international conflicts — most notably between the US and China — have all contributed. This is making standard business transactions far more complex.Take the case of an initial public offering (IPO). It used to be that going public was relatively simple. Now business leaders must deal [...]
City of London must start talking about the opportunities of Brexit : CityAM February 28, 2020 Too much of the discussion around Brexit’s impact on the City has treated it as something of an inconvenience that must be “managed”. This is perhaps understandable — business rarely likes change, certainly not on this scale. But it’s time that we start talking about the opportunities Brexit will present to the City. The conversation largely [...]
Cancelled Budget forces OBR to run two forecasts in two days February 27, 2020 The cancellation of last autumn’s Budget, in place of one next month, means the OBR will now publish two sets of economic forecasts within two days of each other, to avoid falling foul of the law. The Office for Budget Responsibility is legally required to produce two forecasts annually, tied to a fiscal event. However [...]
Drax to cut jobs as it phases out coal next year February 27, 2020 Energy generator Drax said today it will stop burning coal in 2021, ahead of the government’s 2025 deadline. This was announced at the same time the company released its results for 2019. Earnings before interest, tax, depreciation and amortization (EBITDA) increased to £410m by the end of 2019, a 64 per cent year-on-year growth from [...]
Energy complaints only the tip of the iceberg February 27, 2020 The true scale of customer dissatisfaction with the energy sector has been significantly underestimated, according to a new survey. Research by consumer group Which said if every consumer with a grievance against their supplier complained, the number submitted would be around 6.9m. One reason for this figure is disillusioned customers do not want to make [...]
Lloyds to cut 780 jobs across bank branches February 26, 2020 Lloyds is set to cut 780 jobs across its branches in response to declining demand for high-street banking, in the latest round of job cuts at the banking giant. “As customers are using our branches less often, we are reducing the number of roles across our branch network,” said a Lloyds spokesperson. Read more: Lloyds’ [...]
How the FTSE 100 returned 122% in 20 years but barely moved February 25, 2020 | City Talk The story of the FTSE 100 over the last 20 years is a compelling argument for reinvesting dividends. As revellers saw in the new millennium on New Year’s Eve 1999, the FTSE 100 closed at a then-record high of 6930. The stock market was in the grip of the “dotcom” boom. They were good times [...]