City Moves for 16 August 2016 | Who’s switching jobs August 16, 2016 Business Growth Fund Business Growth Fund has expanded its team with the appointment of Paul Stevens, who joins from Octopus Investments. Based in the London office, Paul will focus on identifying investment opportunities in AIM listed companies as part of the BGF Quoted offering, which is led by Gavin Petken and Tom Jenkins and supported [...]
Trump and Corbyn are pushing extreme views August 16, 2016 Surveys constantly reveal that a worrying number of Americans believe some absurd untruths, and crackpot conspiracy theories, about their outgoing President, Barack Obama. A poll last year, for example, found that 29 per cent think Obama is a muslim. A respected survey a few years prior put the number at 18 per cent. Republican candidate Donald [...]
If security breaches are inevitable, what are businesses to do? August 16, 2016 "It's not if, but when your company will be breached.” This is an oft-repeated line in the cyber security industry, and it puts business executives in a catch 22 position. They care about security and know how important it is, but the message they are hearing is: “the hackers will always win”. Bosses are left [...]
London has the worst debt crisis in the UK August 16, 2016 Londoners have the most severe debt problems of anybody in the country, according to a leading debt advice charity. StepChange said those living in the capital were more likely to be behind on their monthly payments and typically had higher levels of borrowing than those across the rest of the UK. The findings comes in a [...]
Sharp downturn would spell trouble for nearly one million renters in London August 16, 2016 There's no housing safety net to catch almost one million renters in London should the economy turn sour, a report out today warns. Analysis by Royal London of government’s family resources survey data for 2013-14 – the most recent full set of figures the researchers had available to them – showed 5.5m working adults across [...]
Belgian pharma firm boosted by US judge ruling August 16, 2016 Shares in Brussels-based drugmaker UCB surged yesterday following a US ruling that blocks rival firms from making generic versions of its epilepsy drug Vimpat. Shares closed up by almost nine per cent in Brussels – its best performance since 2009 – and also giving a shot in the arm to other pharmaceutical stocks around Europe. [...]
Ex-Barclays trio in bid to appeal their Libor convictions August 15, 2016 Former Barclays bankers Jonathan Mathew, Alex Pabon and Jay Merchant have applied to appeal their convictions for Libor-rigging offences, which were handed down last month. City A.M. can reveal that applications have been lodged on behalf of the three men, who were found guilty of one charge each of conspiracy to defraud on grounds they conspired to [...]
I quit government over Heathrow expansion: This is why I changed my mind August 15, 2016 I resigned as parliamentary private secretary to the minister of state at the Home Office and Treasury in 2009 over government proposals for expansion at Heathrow. The plan was unsympathetic to local residents, it ignored concerns about both environmental and noise pollution, and it didn’t offer enough in the way of increased surface access to [...]
Forging closer ties with booming India will unlock vast opportunities for Britain August 15, 2016 On the eve of Indian independence on 15 August, 1947 (whose anniversary was celebrated yesterday), the country’s first Prime Minister Jawaharlal Nehru said that “the achievement we celebrate today is but a step, an opening of opportunity, to the greater triumphs and achievements that await us.” India’s independence was not even 70 years ago, yet the [...]
Consumers want regulation – and Uber shows why markets regulate better than the state August 15, 2016 Waiting in the sweltering heat of Washington, DC for 10 minutes for an Uber, I was desperate to get into an air conditioned car. So when one pulled up right in front of me bearing the Uber sticker, my immediate reaction was relief. It was five minutes into the journey, when I glanced at the [...]