City Moves for 20 May 2016 | Who’s switching jobs May 20, 2016 Lendinvest Capital LendInvest Capital, the fund management and advisory division of LendInvest, has appointed Jesse Mosebye from Scotiabank to join its expanding team. Jesse spent five years in Scotiabank’s European capital introductions team building investor relationships for the prime brokerage team’s hedge fund and asset management clients. He will work closely with Carl Giannotta, associate [...]
US elections: David Cameron deserved his slapdown – his cosy politics won’t wash with Trump May 20, 2016 Donald Trump’s ability to offend both individuals and mass groups of people should not come as a surprise to anyone anymore. That said, while what he says no longer shocks me (that’s not a challenge, Donald), it often upsets me, and causes me to empathise with the groups targeted. His accusation that Mexican immigrants are rapists [...]
The City is irresistible for scores of firms – and we’ll keep doing business regardless of Brexit May 20, 2016 We hear most days how the City will be ruined if Britain votes for Brexit. It is said that there will be flight of capital to Frankfurt, trade will plummet, and international businesses will lose faith in London’s financial predominance. In the last week, Bank of England governor Mark Carney announced that, in the Bank’s view, a [...]
EU referendum: Why business owes it to its workers to take back the Brexit debate from the political elites May 20, 2016 The most important influence on how Britain will vote on 23 June is unlikely to be President Obama, David Cameron, Jeremy Corbyn, or Nigel Farage and Boris Johnson. The unsung persuader in this vote will be a friend or colleague at work. There are 5.4m businesses in the UK and a total of 31m employees. Each [...]
As the US slaps a 522 per cent tariff on Chinese steel imports, should the world fear a new trade war? May 20, 2016 Eamonn Butler, director of the Adam Smith Institute, says Yes. Things could be much worse than they presently are. In the century to 1950, world tariffs averaged 20 to 50 per cent. Now they average 1 to 3 per cent. But protectionism ain’t dead yet. We’ve seen it aplenty from populist presidential hopefuls Donald Trump [...]
Plain packaging: New UK cigarette rules are “plain crazy” after High Court ruling against big tobacco firms yesterday May 20, 2016 Uniform cigarette packaging slammed as "plain crazy" comes into effect today after the High Court ruled against a legal challenge from big tobacco firms. Opponents fear the "Soviet style" plain packaging will put tobacco brands at risk of being "eradicated" and lead to a rise in cigarette counterfeiting. All cigarette packets manufactured from today will [...]
These are the 10 most and least expensive towns in Britain May 20, 2016 Kensington and Chelsea has been named Britain's most expensive neighbourhood, with an average price of £11,321 per square metre. Despite prices dropping one per cent in the last year, the borough’s per square metre average is still five times higher than the national average of £2,216, according to a report by Halifax. Other London areas [...]
Online streaming sites like Netflix and Amazon Prime face a European programming quota under new EU rules May 19, 2016 New rules governing the content provided by online video streaming services such as Netflix and Amazon Prime are set to be announced by the European Commission next week. Streaming firms will be required to devote at least 20 per cent of their offering to European content, as the Commission tries to increase funding for Europe's [...]
London’s iconic black cabs to come clean as Chinese owner raises $400m to electrify taxi fleet May 19, 2016 The Chinese owner of London’s iconic black cab has raised $400m (£273.8m) in a bid to introduce "clean taxis" on London roads. Zhejiang Geely Holding Group Co. secured the funds to electrify black cabs through a green bond sale that is rumoured to have been oversubscribed by eight times. The company intends to use the funds for developing [...]
Germany’s biggest lender Deutsche Bank could be next in line for shareholder revolt over pay May 19, 2016 Shareholders at Germany's Deutsche Bank have signalled their distaste for the company's pay plan, with a vote against remuneration proposals at the group's annual meeting in Frankfurt. The bank's pay plan was voted down by 51.9 per cent of its investors, with 48.1 per cent voting in favour. Deutsche has weathered several storms during the [...]