These are the top 25 best-paying companies in the UK May 23, 2019 A report released today has revealed that the UK's 25 highest paying company's offer staff between £61,000 and £90,000 as a median compensation package. The list by job site Glassdoor is dominated by finance and tech firms, three of which have their headquarters in the UK. John Lamphiere, EMEA managing director at Glassdoor, said: “It [...]
Ex-European Commission president says UK financial services should be higher on Brexit agenda May 21, 2019 The UK’s financial services sector should be much higher on the agenda of Britain’s Brexit negotiators, the chairman of Goldman Sachs and former president of the European Commission said today. Read more: Helena Morrissey casts vote for Brexit party in upcoming Euro-election “I'm relatively surprised by the fact that until now in the discussion of [...]
Watches of Switzerland targets £660m London listing May 21, 2019 Luxury retailer Watches of Switzerland said today it is targeting a London float that could hit a valuation of £660m. The company sells luxury watch brands such as Rolex, Patek Philippe, Cartier and Hublot. Read more: Jaguar sues watchmaker Christopher Ward over D-Type watches It has 125 shops in the UK and 21 in the [...]
Are emerging markets ready to fight back? May 21, 2019 You know there’s an underlying problem when investment firms start to cut exposure to a particular asset class. Goldman Sachs’ decision last week to slash exposure to emerging markets is an indication of the current situation for these economies. The bank’s asset management arm said that it had scaled back its “overweight” exposure to emerging [...]
Goldman Sachs taps Mazars for European audit in blow for Big Four May 20, 2019 Goldman Sachs has appointed Mazars to audit its London-based European operations, making it the first large bank in the UK to shun the Big Four. Read more: Big Four could force judicial review into proposed audit reforms The US investment bank has selected the Paris-headquartered auditor, which is the eighth-largest in the UK by fee [...]
Goldman Sachs buys United Capital for $750m in wealth management expansion drive May 16, 2019 Goldman Sachs announced it will buy boutique wealth management firm United Capital Financial Partners for $750m (£585.54m) in a move to extend its offering to clients “across the wealth spectrum”. United Capital, which has $25bn of assets under management, will join Goldman Sachs’ $500bn wealth management business that is comprised of Private Wealth Management and Ayco, [...]
Travelex owner Finablr launches London IPO at reduced price in tough market conditions May 15, 2019 United Arab Emirates-based payments company Finablr floated in London today at a reduced price to reflect difficult market conditions. The Travelex-owner said it would raise £306m to give the business a market capitalisation of approximately £1.225bn. Read more: Travelex-owner Finablr to raise $200m in London listing The offer price has been set at 175p, well [...]
Botanical drinks startup with top City backers set for crowdfunding May 14, 2019 A botanical drinks startup which counts high-profile City veterans and celebrities among its backers is set to launch a £1m crowdfunding in its latest expansion drive. David Spencer-Percival, the serial entrepreneur who runs No.1 Rosemary Water, told City A.M. he is looking to lure in fresh capital amid a global product drive and the launch of [...]
Revealed: Elon Musk’s half-a-billion dollar debt to banks helping Tesla fundraise May 3, 2019 Tesla boss Elon Musk personally owes $507m (£389m) to the Wall Street banks helping the electric car firm raise up to $2.3bn, it emerged yesterday. Read more: Tesla looks to strengthen with $2.3bn fundraising round The lending was disclosed in a Tesla prospectus for the fundraising, and showed the debt to be $117m less than [...]
Extinction Rebellion climate change protesters want to destroy the UK’s financial sector May 1, 2019 The founder of Extinction Rebellion has ambitions to upend the UK’s financial system after her organisation targeted the City in two weeks of London protests. Gail Bradbrook wants to provoke a “mass refusal” to pay off loans and mortgages in a bid to throw London’s financial district into disarray following action that saw climate change [...]