Why the Bank of England should hold interest rates December 18, 2019 The Bank of England should vote to hold interest rates at their current level until there is more clarity over the economy’s direction in the New Year, some of the City’s top economists have argued. Ahead of the Bank’s key meeting tomorrow, City A.M.’s shadow monetary policy committee has taken a wait-and-see approach by overwhelmingly [...]
Watchdog blasts British American Tobacco’s Lily Allen Instagram vaping posts December 18, 2019 British American Tobacco (BAT) is one of four vaping companies to have their Instagram posts banned by the Advertising Standards Authority (ASA). The posts saw celebrities like Lily Allen promoting e-cigarettes, something that is banned on social media. Read more: Watchdog puts BAT in sights as it weighs clampdown on e-cigs Posts including BAT nicotine [...]
Co-op owners sound out potential buyers December 18, 2019 The hedge fund owners of the Co-op Bank are reportedly on the hunt for potential buyers. Two-and-a-half years after the lender was rescued from collapse, the US investors which took control of the Co-op have started holding talks with possible bidders, according to Sky News. The broadcaster cited sources as saying that several British retail [...]
Bank of England to set up climate change stress tests December 18, 2019 The UK’s top banks and insurers may be tested together in 2021 for the financial impact of climate change, according to a new Bank of England paper. The tests would include three different scenarios and would assess how firms would deal with more frequent weather events and mass sell-offs of “brown assets” – those considered [...]
K&K Property Holdings makes London debut with £130m Covent Garden deal December 18, 2019 Hong Kong’s K&K Property Holdings has made its first investment in the London market with the acquisition of an office block in Covent Garden for £130m. Tenants in the 90,916 sq ft tower include co-working firm The Office Group and Marathon Asset Management. Read more: Central London office take up surges as fintech sector grows [...]
Fintech boom sends central London office take-up soaring December 18, 2019 Central London office take-up surged last month, driven by growth in the capital’s fintech sector. Take-up increased 31 per cent to 900,000 sq ft between October and November, while the year on year jump was five per cent. Read more: The UK’s richest workers don’t live or work in London The banking and finance industry [...]
Emily Thornberry announces Labour leadership bid December 18, 2019 Emily Thornberry has all but confirmed she will run for the leadership of the Labour Party. Thornberry criticised her party’s decision to agree to an election, which she said was always going to be about Brexit. Read more: ‘You can’t make s**t up about me’: Emily Thornberry launches legal action against ex-Labour MP She said [...]
Experts unsure about the effect of air pollution on the Tube December 18, 2019 The effects of the high levels of dust and air pollution throughout London’s Tube system is unknown, according to a new report. A London Assembly report into Tube dust confirmed that “concentrations of particulate matter on underground platforms” are much higher than outside. Read more: London Underground has the city’s highest level of air pollution [...]
NMC Health hits back at Muddy Waters following short attack December 18, 2019 NMC Health has hit back at Muddy Waters after an attack by the short seller yesterday wiped around £1.75bn off the value of the FTSE 100 healthcare operator. Shares in NMC plunged as much as 42 per cent yesterday – the most on record – after the US short seller published a 34-page report raising [...]
The UK’s richest workers don’t live or work in London December 18, 2019 Professionals living in London are the poorest workers in Britain as expensive basic living costs eat up a large chunk of their salaries, according to the latest research. Despite enjoying an average monthly salary of £2,348.49 Londoners were left with just £221.16 to spend after essential expenditures such as rent, travel and food are taken [...]