City forum intervenes in Barclays’ battle with Bramson April 28, 2019 A forum for City investors has intervened in Barclays’ battle with activist investor Edward Bramson, ahead of the bank’s general meeting this week. Investor Forum has written to Barclays in recent weeks at the prompting of major institutional investors to raise a number of concerns, Sky News reported. The news comes before Barclays’ general meeting [...]
City runners shine as thousands turn out for London Marathon April 28, 2019 TENS of thousands of runners took to the streets of the city today in a record-breaking London Marathon. More than 40,000 took part in the event, won by Kenya’s Eliud Kipchoge in two hours two minutes 38 seconds – the second fastest time in history and a new course record. Read more: What next for [...]
Big Four could force judicial review into competition watchdog audit reforms April 28, 2019 Several of the Big Four accountancy firms could attempt to force a judicial review of the competition regulator’s proposals to shake up the sector. Earlier this month the Competition and Markets Authority (CMA) called for the introduction of joint audits, meaning companies would have to appoint one of PwC, EY, Deloitte or KPMG, alongside a so-called [...]
Fracking tsar launches broadside against government’s de facto ban in resignation letter April 28, 2019 The UK’s shale gas commissioner has resigned and blasted the government over industry regulations that make it “nearly impossible” for the sector to develop. Natascha Engel, who had been in the job just under seven months, said the government’s refusal to review its policy on seismic tremors amounted to a de facto ban on the [...]
The left is upping its campaign against the free market – and the City in particular April 28, 2019 John McDonnell and the Labour party have long talked of the need to “democratise” our economy. Their plans for sweeping nationalisations, a state-run investment bank and the forced reallocation of shares to the workers are all couched in the language of taking power from the fat cats and making finance a servant of the public, [...]
Ministers mull new laws to crack down on foreign spies working in UK banks and businesses April 28, 2019 A new law to crack down on foreign spies working for banks and businesses is reportedly being drawn up by the government to curb the influence of "red money" in the UK. The legislation is part of a raft of measures designed to get a grip on money flowing into the UK from Russia and China, following [...]
Government plans to charge EU students higher university fees criticised April 28, 2019 Government plans to make students from the European Union pay higher tuition fees at English universities have been criticised in the run up to the European Parliament elections. Read more: UK universities to stick with Huawei despite Oxford suspending funding The Department for Education’s plan, first reported by BuzzFeed, would end so-called home fee status [...]
Philip Hammond to give verdict on future of 1p and 2p coins April 28, 2019 The Chancellor Philip Hammond is set to decide on the future of 1p and 2p coins this week, after much speculation that they could be axed. Read more: Scrapping 1p and 2p coins would have "no significant impact on prices" City A.M. understands that the two copper coins are likely to be saved by a [...]
French rail firm SNCF threatens legal action against government over failed HS2 bid April 28, 2019 France’s state-owned rail company SNCF is threatening legal action against the UK government after it was barred from bidding from a contract to run HS2 in an ongoing dispute over pension liabilities. SNCF is the latest firm to get caught up in a row over pensions, which prompted the Department for Transport (DfT) to bar Stagecoach [...]
SSE talks to Talktalk over £1bn retail unit after scrapping Npower deal April 28, 2019 Scottish energy supplier SSE has approached a number of its rivals, and broadband provider Talktalk as it tries to find a buyer for its £1bn retail division. The company has promised to update shareholders on the future of the unit before its full year results towards the end of May, after a merger deal with [...]