City Moves for 16 November 2016 | Who’s switching jobs November 16, 2016 HSBC HSBC’s Sanjeev Chopra is to join Psigma Investment Management as investment director in January 2017 reporting to John Howard-Smith, CEO. A seasoned investment professional, Sanjeev has worked at HSBC for nearly two decades, his most recent role being client director at HSBC Global Asset Management. IHS Markit IHS Markit has appointed Andrew Aziz as the global [...]
High-street retailers are struggling to meet the demands of tech-savvy consumers November 16, 2016 Black Friday marks the start of the UK's busiest shopping period of the year, and research shows retailers aren't doing enough to improve their customers' in-store experiences. Among the biggest irritations to shoppers are crowded shops (45 per cent), checkout queues (42 per cent) and long waits for fitting rooms (29 per cent). Almost two thirds [...]
IGas wins approval to frack two mines in Nottinghamshire November 15, 2016 IGas Energy revealed today it has been granted permission to frack two wells in Nottinghamshire. Remarking that he was "pleased" Nottinghamshire County Council's Planning and Licensing Committee had chosen to grant his company the necessary permissions, Stephen Bowler, IGas chief executive, added: We are at a critical juncture in the future of our energy mix and supply, as we move [...]
Article 50 case outcome could delay Brexit, Supreme Court judge cautions November 15, 2016 Brexit could be delayed if government loses its appeal on the Article 50 case, the deputy president of the Supreme Court has cautioned. In a speech in Kuala Lumpur, which was delivered last week but the text not published until today, Lady Brenda Hale mused that, if the appeal did not swing in government's favour, it [...]
Boris Johnson signals UK will leave Customs Union post-Brexit November 15, 2016 Foreign secretary Boris Johnson has confirmed the UK will probably have to leave the Customs Union post-Brexit in an interview published today. Although much of the Brexit debate has focused on what access British businesses can hope to maintain to the Single Market, less attention has been given to whether the UK will continue to be a [...]
Enterprise Inns results show steady growth as it moves away from one-size-fits-all management style November 15, 2016 Shares gained some fizz yesterday at the UK's largest pub owner, Enterprise Inns, while full-year profits after tax swung back. The figures Revenue rose 1.1 per cent to £632m from £625m last year. Profit after tax swung to £71m following 2015's loss of £65m, due to low exceptional refinancing costs and lower property charges arising from [...]
German GDP underperformance weighs on Eurozone growth but analysts aren’t too concerned November 15, 2016 Eurozone GDP grew at a rate of 0.3 per cent in the third quarter of 2016. The underperformance of the German economy ensured that growth for the region remained stable, but analysts did not see much cause for concern in the face of improving sentiment for the German economy. Growth was weighed down by unspectacular performances [...]
As a businessman, Donald Trump knows that success requires compromise: Brexiteers should take note November 15, 2016 With the election of Donald Trump to the White House, we have now experienced political earthquakes on both sides of the Atlantic. Mr Trump’s triumph and the UK’s Brexit vote, both fuelled by public anger, confirm we have moved into a new and much more uncertain political era. Millions of words have already been written [...]
Wembley Park project secures financial backing from three institutional heavy-hitters November 15, 2016 The firm behind the multi-billion pound redevelopment of the land surrounding Wembley Stadium has announced a vital £800m refinancing, which paves the way for its "new masterplan" for the area. Quintain, which was last year taken private in a £745m deal by US private equity firm Lone Star, announced it would replace its £425m loan from Wells Fargo with [...]