Lawyer attacked designer in seat row at Royal Opera House December 16, 2019 A hedge fund lawyer was convicted of assault today after punching a fashion designer in a bust-up at the Royal Opera House. During a performance of Wagner, Matthew Feargrieve struck Ulrich Engler at least once in a dispute over a seat, City of London Magistrates’ Court heard. Read more: Two women who quit City jobs [...]
Nicky Morgan stays as Culture Secretary as Boris kicks off mini-reshuffle December 16, 2019 Boris Johnson has named new ministers as he looks to fill the roles vacated by the election – but has also re-appointed Nicky Morgan as culture secretary despite her standing down as an MP. Morgan will become a peer in the House of Lords but retain her brief overseeing culture, media, sport and digital. In [...]
BoE: UK lenders can withstand disastrous recession December 16, 2019 The UK’s biggest lenders are strong enough to withstand a financial earthquake stronger than the one that rocked the City in 2008, the Bank of England’s annual stress test has found. Britain’s seven biggest banks could keep lending even if UK national income slumped 4.7 per cent, unemployment surged to 9.2 per cent, and world [...]
UK watchdogs propose major fund redemption changes December 16, 2019 The UK’s financial watchdogs have said funds with hard-to-sell assets should ensure investors cannot withdraw their money at very short notice or should offer a lower price for redemptions. The proposal came as part of a review into the sector following the failure of the flagship fund run by the once-lauded investor Neil Woodford, which [...]
Cineworld to buy Canadian operator for $2.1bn December 16, 2019 Cineworld has agreed to buy Canadian operator Cineplex for $2.1bn, the company announced this morning. The deal, which will add 165 cinemas and 1,695 screens to Cineworld’s portfolio, is subject to shareholder approval and is expected to complete in the first half of next year. Read more: Cineworld suffers from weak box officce as it [...]
UN climate change conference closes amid criticism December 15, 2019 The UN climate change summit in Madrid drew to a belated and acrimonious end today as a small number of large states resisted pressure to increase efforts to combat global warming. Activists and delegates from smaller nations were critical of countries such as the US, China, Australia, Brazil and Saudi Arabia, who were said to [...]
Trump impeachment looms as US house committee approves charges December 14, 2019 The US House of Representatives have taken President Donald Trump closer to being impeached after approving two charges against him on Friday, in relation to his efforts to pressure Ukraine to investigate Joe Biden. The house judiciary committee voted 23-17 in favour of charging Trump with abuse of power and obstructing House Democrats’ efforts to [...]
Sterling soars as exit poll predicts huge Tory majority December 12, 2019 Sterling skyrocketed nearly two per cent as the exit poll predicted a huge Tory majority of 86 seats, the largest for the Conservatives since the days of Margaret Thatcher. The pound briefly hit as high as $1.35, reaching a level last seen in May 2018, which put the currency on course for its biggest one [...]
Banking on the future: The boss of the Association of Foreign Banks speaks to CityA.M. December 12, 2019 Among the many services that the Association of Foreign Banks (AFB) provides to its global members is a guide on how to handle allegations of workplace harassment. Overseas banks with an office in the UK can pay their trade body a small fee for a 26-page report that highlights case studies of misconduct. It even [...]
Prince Andrew’s Pitch@Palace scheme loses third director December 12, 2019 Prince Andrew’s embattled Pitch@Palace initiative suffered another blow as a third director resigned from the company. German-born David Stern, a private investor, is listed as having quit both Pitch@Palace and its international sister, Pitch@Palace Global, on 9 December. Read more: Prince Andrew steps down from Pitch@Palace role On 19 November fellow directors Hanadi Jabado and [...]