Crystal Palace hawked for sale in £210m deal October 1, 2019 Crystal Palace are being hawked to prospective buyers in a deal which would value the Premier League football club at £210m. A document circulating among bankers and seen by City A.M. offers to facilitate the purchase of at least 75 per cent and up to 90 per cent for either a single buyer or a [...]
Airbnb ‘plots direct listing’ instead of traditional IPO for hotly-anticipated float October 1, 2019 Airbnb is said to be shunning a traditional initial public offering (IPO) in favour of a less conventional direct listing when it floats on the public market next year. The San Francisco-based tech giant is currently making preparations for a listing that would not involve creating any new shares, Bloomberg reported, citing people familiar with [...]
Transport secretary Grant Shapps: I do not know answer to HS2 cost question October 1, 2019 Transport secretary Grant Shapps has said he doesn’t know how much the controversial High Speed Two (HS2) project currently costs. HS2, which will link London to the north in stages, is currently subject to a review by former its former chairman Douglas Oakervee that could see the project significantly altered or even scrapped. Read more: [...]
Diversity can prepare City firms for uncertain times ahead October 1, 2019 City bosses need to keep the issue of diversity and inclusion high on their agenda as the UK heads into uncertain times and use it as a tool to both leverage opportunity and improve resilience, according to a panel of experts. In the first of a series of events hosted by City A.M., executives from three of the City’s largest [...]
Jobs at risk after no-deal Brexit as Nissan may pull SUV production from Sunderland plant October 1, 2019 Autoworkers in Sunderland were left worried earlier today after reports that Nissan could pull the production of its Qashqai SUV from the city if Britain leaves the European Union without a deal in place. The plant, a backbone in the local economy which supports thousands of jobs, could lose the vital contract, potentially leading to [...]
WTO blames tariff wars as it slashes global trade forecast October 1, 2019 The World Trade Organization (WTO) has slashed its forecast for global trade this year to below half its previous estimate, pointing the finger at the US-China tariff war and also blaming Brexit. In a report into global trade, WTO economists today warned that “further rounds of tariffs and retaliation” in the trade war “could produce [...]
Tailed in Zurich: How the Credit Suisse spy drama unfolded October 1, 2019 Not many employees start their first day in the new job with a spying scandal hanging over their head. But so it is for Iqbal Khan, the star banker who began life at UBS today against a backdrop of car chases, cocktail party bust-ups and private investigations. While it may read like the plot of [...]
Tory MP Clifton-Brown told to leave conference after ‘totally unacceptable’ altercation October 1, 2019 It’s all kicking off at the Conservative party conference. While the gloves might be off metaphorically in Westminster, in Manchester MP Sir Geoffrey Clifton-Brown was involved in a real-life altercation with a delegate this afternoon. Authorities put the press room on lock down during the kerfuffle, meaning journalists could not get to the incident, in [...]
Thomas Cook’s Belgian operations announce bankruptcy October 1, 2019 Thomas Cook’s operations in Belgium have officially been declared bankrupt, putting 500 jobs at risk. A commercial court today ruled that Thomas Cook Retail Belgium – the largest Belgian subsidiary of the collapsed travel giant – had collapsed into administration. Read more: FRC watchdog probes EY audit of Thomas Cook accounts The retail arm had [...]
Kwasi Kwarteng: Boris Johnson’s ‘clarity of message’ on Brexit behind Tory poll bounce October 1, 2019 Boris Johnson’s “clarity of message” has helped buoy the Tories in polls, business minister Kwasi Kwarteng has said, as he hit out at plans from opposition MPs to form an alternative government. Kwarteng, who served as under secretary of state for the Department for Exiting the EU under Theresa May, told a fringe event at [...]