City Moves: Who’s switching jobs in the Square Mile? July 15, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Westwind Capital London-headquartered Westwind Capital, a new European private equity real estate investment platform has appointed a chief financial officer and chief operating officer, as it builds out its C-suite. Stepping into both roles, Mark Terry brings [...]
UK risks losing life science firms to the EU with sluggish medicine approvals July 15, 2022 The UK is falling behind the European Union (EU) in approving new medicines, which could be the first step in life science firms picking up and moving over to the mainland. The UK’s medicines regulator typically approves novel medicines around a month slower than its EU counterpart, research by Imperial College London has found. Lead [...]
UK landlords urge new prime minister to strengthen supply amid record rent costs July 15, 2022 The UK’s new prime minister must address the trickling supply in the rental market, an industry body has urged, as average costs spiral northward. The heated rental market, which has seen tenants often offering over the asking price in order to secure a tenancy, is weighing on Brits’ aspirations for homeownership, according to the National [...]
Tory leadership: Sunak and Mordaunt storm out to the front as Braverman drops out July 14, 2022 Rishi Sunak and Penny Mordaunt have consolidated themselves as the top two frontrunners for the Tory leadership race as Suella Braverman drops out in the second vote. Sunak picked up 101 votes from his fellow Tory MPs, while Mordaunt picked up 83 and foreign secretary Liz Truss remained in third place on 64. Kemi Badenoch [...]
Shell boss warns Europe could face energy rationing as ‘tough winter’ approaches July 14, 2022 Germany could have no choice but to ration its energy supplies if Russia turns off the taps, warned asset manager UBS.
Italian President refuses to accept Mario Draghi’s resignation as PM July 14, 2022 Italy’s President has sensationally declined to accept Mario Draghi’s resignation as Prime Minister, further plunging the country into political uncertainty. Draghi made a statement this evening to say the “national unity” coalition which supported him as PM no longer exists after the Five Star movement, which had supported the coalition, pulled out of a confidence [...]
Environment Agency calls for water bosses to face jail over ‘appalling’ pollution July 14, 2022 Water bosses should face jail unless they clean up their act and stop dumping sewage in rivers, warned the industry's regulators today.
Musk’s $44bn u-turn on Twitter hits City advisor fees hard July 14, 2022 Twitter and Elon Musk’s financial advisors could lose big bucks after the eccentric entrepreneur walked away from the $44bn mega deal. According to an earlier regulatory filing, the social media firm’s financial advisors Goldman Sachs and JP Morgan Chase could have nabbed fees totalling to $133m, while Refinitiv suggested that Morgan Stanley and the other [...]
UK data watchdog plots regulation that cuts shackles of the EU regime July 14, 2022 The UK's data protection watchdog laid out its three-year strategy to safeguard the information rights and depart from the shackles of the EU's GDPR framework.
FCA chief: We’re pursuing root and branch overhaul July 14, 2022 The City watchdog is undergoing a root and branch overhaul to “mitigate the shocks” on the horizon for Britain’s financial services sector, its chief said today. Speaking at Peterson Institute for International Economics in the US, Nikhil Rathi, chief executive of the Financial Conduct Authority (FCA), said the regulator is reshaping its oversight of the [...]