Exclusive: Meet the former UBS and JPMorgan heavyweights shaking up private banking May 28, 2021 As the economy is slowly switching into recovery gear, activity in the City and beyond is starting to pick up again. That is also the case for Vestrata, a relatively new fintech player that is taking the wealth management and private banking space by storm by bring machine learning and automated risk metrics into the [...]
UK business optimism hits five-year high, so why has London slipped? May 28, 2021 Economic optimsim across the UK has reached its highest level in five year, but for some London businesses the reopening enthusiasm has waned.
Post-Brexit listing: Czech payment giant Eurowag planning £1.4bn IPO in London May 27, 2021 Private equity firm TA Associates is planning to list Czech Republic-based W.A.G. Payment Solutions, better known as Eurowag, on the London Stock Exchange, two sources told Reuters this evening. If the listing goes ahead, it would be seen by many as a reaffirmation of London’s attractiveness to European companies in the aftermath of Brexit. The [...]
Exclusive: City of London Police’s asset forfeitures jump by 3,600 per cent as priority shifts to higher-value fraud May 27, 2021 The City of London Police issued Account Freezing Orders and Account Forfeiture Orders against assets worth £36m last year, compared to less than £1m in 2019, a jump of 3,600 per cent, according to research by law firm RPC, exclusively shared with City A.M. this evening. Account Forfeiture and Account Freezing Orders allow authorities to [...]
UK cases of Indian Covid variant double to nearly 7,000 in one week May 27, 2021 A total of 6,959 cases of the Indian variant of coronavirus have now been confirmed in the UK, Public Health England said. The figures are up to 26 May, and represent a rise of 3,535 on the previous week. The Government said a further 10 people had died within 28 days of testing positive for [...]
Global Britain: China overtakes Germany as UK’s biggest import market post-Brexit May 27, 2021 Germany is no longer Britain’s most important import market. For the first time since modern records began, the UK imported more goods from another country: China. During the first quarter of this year, the UK spend £16.9bn on Chinese goods, a jump of 66 per cent in the last three years, according to newly released [...]
Brexit: ECB to crack down on ‘desk mapping’ in London to drive more bankers and capital to the EU May 27, 2021 The European Central Bank is ramping up efforts to push more management and capital out of the City and Canary Wharf, into the EU. The central banking authority plans to scrutinise and crack down on so-called ‘desk mapping’ – or ‘back-to-back booking’ – to determine whether banks’ key staff, capital and book trades used by [...]
TfL pledges to make London world’s ‘most walkable city’, which could aid SMEs May 27, 2021 TfL has pledged today to make London the world’s ‘most walkable city’ and will programme 18 pedestrian crossings to show green walking signal until traffic approaches. The programmed crossings are set to prioritise people walking and will be installed by the end of next month. Six crossings have already been programmed in Tower Hamlets, Newham, Hounslow, [...]
Crowds flood London’s Chinatown for no-questions-asked Covid vaccines May 27, 2021 People flooded the streets of Chinatown this afternoon after an online message board for Chinese speakers advertised free Covid-19 jabs, where people did not need to present any documents. The jabs were not bookable by appointment, instead, people were urged to turn up – without anticipating the scale of the crowds. Those seeking a vaccination [...]
City Corporation calls for support for India coronavirus appeal May 27, 2021 | City Talk The City of London Corporation has made a £25,000 donation to efforts to tackle the coronavirus emergency in India – and is calling for others to also show their support. The Square Mile’s governing body has donated to the Disasters Emergency Committee’s coronavirus appeal, which is providing medical supplies, treatment facilities and logistics support in [...]