Labour’s desire for the Bank of England to control UK house prices is disastrous and illogical April 12, 2019 The Bank of England should be responsible for boosting the UK’s productivity, according to the Labour party, which wants Threadneedle Street to dictate how banks lend money to businesses. Under the leadership of Jeremy Corbyn and John McDonnell, Labour also wants to keep RBS nationalised in order to direct its lending; turn Post Offices into [...]
The City’s towers rise up from ancient streets, and the contrast is sublime April 12, 2019 We can become desensitised to the rich history and incredible architectural tapestry that makes the City what it is. We can shuffle from Tube station to office to restaurant and home again, all without stopping as often as we should to take note of our surroundings and consider our immense good fortune that we work [...]
Uber files to go public as losses mount April 12, 2019 Ride-hailing giant Uber has filed to go public in New York in an initial public offering (IPO) that could be one of the largest technology floats ever, while still losing billions. The firm reported an adjusted loss before interest and tax of $1.9bn for 2018, and forecast its operating expenses “to increase significantly in the foreseeable future”. Its operating [...]
City Moves for 12 April 2019 – Who’s switching jobs at Ten Lifestyle Group, Cobalt and Atlas Merchant Group? April 12, 2019 Today's City Moves includes Ten Lifestyle Group, Cobalt and Atlas Merchant Group. Ten Lifestyle Group Ten Lifestyle Group, a leading technology-enabled lifestyle and travel platform for the world’s wealthy and mass affluent, has announced the appointment of Alan Donald as chief financial officer (CFO) and as an executive director on the board. He will join [...]
Melrose chief executive defends plans to close GKN factory near Birmingham April 11, 2019 The buyer of engineering group GKN has defended its plans to close one of the firm’s factories after MPs complained they undermine commitments made during the takeover process. Melrose chief executive Simon Peckham wrote to Rachel Reeves, who chairs the Business, Energy and Industrial Strategy Select Committee, saying his firm had “complied with both the [...]
Chair of troubled energy supplier URE Energy blasted by ex-investors April 11, 2019 The chairman of one of Britain's troubled energy challengers has left a string of dissolved businesses and angry investors in his wake. URE Energy, chaired by prolific businessman John Coombs, was ordered by regulator Ofgem to pay a £209,000 fine by 31 March after it failed to make payments required because not enough of the [...]
Bayer considers appeal after losing weedkiller case in France April 11, 2019 German chemicals giant Bayer could appeal a French court's decision that one of its weedkillers damaged a farmer's health. A court in Lyon found for Paul Francois, who he had suffered from fainting, headaches and memory loss after inhaling weedkiller Lasso in 2004. Read more: Bayer shares tumble after weedkiller cancer verdict However, Francois will have [...]
Carlsberg sparks speculation of new product launch with Twitter marketing campaign April 11, 2019 Carlsberg has quietly launched a tongue-in-cheek marketing campaign on Twitter, sparking speculation the brewer may be gearing up to launch a new product. The Danish firm has begun promoting tweets in which disgruntled customers complain about the quality of Carlsberg’s beer. Read more: Carlsberg cheers hot summer and Chinese sales despite lower growth outlook Comments [...]
Entertainment One snaps up Killing Eve score producer Audio Network for £178m April 11, 2019 Media firm Entertainment One has acquired film and TV score production firm Audio Network for £178m as it looks to beef up its music division. Entertainment One has secured a deal to buy 100 per cent of the UK-based company, which has produced scores for films and TV shows including Killing Eve, Bodyguard and Straight [...]
City watchdog accused of using legal red tape to delay report into RBS GRG unit April 11, 2019 The City watchdog has been accused of abusing legal red tape to delay a report into its controversial decision not to take action against senior individuals within RBS’s rogue unit GRG. Former business secretary Sir Vince Cable said the Financial Conduct Authority (FCA) is using Maxwellisation – a process whereby individuals criticised in an investigation [...]