TfL plans new Thames piers to cater for 20m passengers November 6, 2019 Plans to transform the Thames into a major commuter hub have taken a step forward with new passenger piers set to be built along the river. Transport for London (TfL) announced today it would build new public piers in a bid to increase the Thames’ capacity to cater for public transport journeys. Read more: Rory [...]
Luke Johnson hires bankers for Gail’s Bakery sale November 6, 2019 Serial entrepreneur Luke Johnson has reportedly appointed bankers to explore a sale of Gail’s Bakery. Johnson has appointed bankers at Nomura to oversee the sale of Gail’s parent company Bread Holdings, Sky News reported. A sale process is expected to be launched in the next few months with a price tag of £150m, the report [...]
Law firm tries to muscle in on £1bn forex cartel claim November 6, 2019 US claimant law firm Hausfeld is trying to muscle in on a £1bn group action against a raft of banks who were found to have rigged the foreign exchange markets. The Competition Appeals Tribunal (CAT) heard today that Hausfeld is set to bring a claim by the end of November. The CAT was sitting for [...]
Why the Bank of England should keep interest rates on hold November 6, 2019 The Bank of England must leave interest rates on hold tomorrow and resist the urge to tinker until Britain’s economy is out of the General Election and Brexit fog, City A.M.’s panel of expert economists has said. Read more: Sajid Javid delays appointment of new Bank of England governor Much has changed in British politics [...]
Facebook executives planned ‘switcharoo’ on data policy change November 6, 2019 Facebook began cutting off access to user data for app developers from 2012 to squash potential rivals while presenting the move to the general public as a boon for user privacy, according to court documents reviewed by Reuters. Some executives at the world’s biggest social network appeared to refer to the strategy of promoting a [...]
Astrazeneca pushes further into China with trio of new projects November 6, 2019 Astrazeneca this morning unveiled three new initiatives to further deepen the UK-based company’s footprint in China. The pharmaceuticals multinational has agreed a partnership with China International Capital Corporation (CICC), one of China’s leading investment banks, to create a $1bn Healthcare Industrial Fund. Read more: AstraZeneca beats estimates in strong third quarter Astrazeneca will be a [...]
What is IR35? Everything you need to know about the tax coming to the private sector November 6, 2019 After rolling out into the public sector in April 2017, HMRC’s controversial IR35 tax is set to hit private sector contractors in 2020. And it promises to cost workers a big chunk of change: one estimate suggests contractors could pay 25 per cent more in tax. Self-employed contractors are now grappling with the legislation, which [...]
Plans unveiled for £100m underground development in West End November 6, 2019 Plans have been submitted for a £100m underground development to expand the Harley Street medical area in London’s West End. The 280,000 sq ft development beneath Cavendish Square – one of the capital’s original Georgian squares – will house healthcare facilities as well as retail and leisure spaces. Read more: West End landlord Shaftesbury unaffected [...]
Revolut’s information security chief has left the firm after just two months in the job November 6, 2019 Revolut’s chief information security officer (CISO) Dinis Cruz has quit less than two months after he joined the firm. Cruz announced last week that he will leave the challenger bank this month, in a move described as being “by mutual agreement”. Read more: Martin Gilbert to step down from Stand Life and join Revolut He said [...]
Redrow suffers shareholder revolt over chairman role and executive pay November 6, 2019 Housebuilder Redrow suffered a shareholder revolt at its annual general meeting today as around a third of investors voted against the appointment of its executive chairman and payment plans for senior management. At the meeting in central London today, 31.38 per cent of shareholders voted against the re-appointment of John Tutte as executive chairman, while [...]