Investing in undervalued care sector is complex and challenging, warns Advinia’s chairman April 21, 2021 Over the past decade, investors and private equity firms have piled into private health and social care, sensing the potential for high returns. However, as the sector is beset with financial stress brought on by the global financial crisis following the pandemic, a range of healthcare providers, including HC-One, the UK’s largest, have started to [...]
City Moves: Who is switching jobs in the Square Mile this week? April 21, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. In this week’s City Moves, we have a host of newly created roles making their way across the Square Mile. From chief data officers to directors of environment social and governance – the [...]
Hand it over: David Cameron ordered to show lobbying text messages April 21, 2021 Former prime minister David Cameron has been given two weeks to pass on the details of his text messages in which he attempted to lobby the chancellor on behalf of failed finance firm Greensill. In a letter to Cameron, the chairman of the Treasury select committee urged the former prime minister to release details of [...]
Next CEO Lord Simon Wolfson’s pay jumps 28 per cent despite profit plunge, shut stores and furloughed staff April 20, 2021 Next boss Lord Simon Wolfson's pay jumps 28 per cent despite profit slump, closed stores and furloughed staff
CMA teams up with Australian and German authorities to tackle problematic mergers April 20, 2021 The Competition and Markets Authority (CMA) has teamed up with its Australian and German counterparts to better enforce mergers, with healthy competition crucial to post-pandemic economic growth. The CMA, the Australian Competition and Consumer Commission (ACCC) and Germany’s Bundeskartellamt have signed up to a statement which said that “without strong merger control regimes, there is a [...]
Prince William and Harry begin to rebuild bridges, an insider says April 20, 2021 Following last month’s televised interview between Harry, Meghan and Oprah Winfrey, it has been reported that William and Harry have begun rebuilding bridges. The controversial interview, mirroring that of their mother Diana’s BBC Panorama interview in 1995, caused rifts between royal followers and family members alike. However, with Harry back in the UK for [...]
Shaun Bailey London mayor election manifesto: Everything you need to know April 19, 2021 Conservative mayor of London candidate Shaun Bailey today launched his election manifesto, with polling day on 6 May now just weeks away. The 56-page document outlined policies on areas such as the economy, the environment, transport, crime, housing and transport. City A.M. went through the manifesto with a fine tooth comb to bring you a snapshot of the [...]
Markets: Wall Street slips from record levels April 19, 2021 Major U.S. stock indexes fell from record levels on Monday as investors sought cues from first-quarter earnings reports to justify the rich valuation of equities. Tesla was the biggest drag on the S&P 500 and the Nasdaq, with the electric-car maker down three per cent after a Tesla vehicle, which was believed to be operating [...]
Mayor of London election: Shaun Bailey pledges City Hall infrastructure bank as part of Covid recovery April 19, 2021 Tory mayor of London candidate Shaun Bailey has pledged to create a new taxpayer-funded and City Hall-owned infrastructure bank for transport projects if elected next month. Bailey’s plan would aim to “attract private sector finance into large scale, costly infrastructure projects” in order to get projects like Crossrail 2 and the Bakerloo extension funded. The [...]
HSBC scraps executive floor in Canary Wharf in favour of hot-desking April 19, 2021 HSBC has scrapped the entire executive floor at its Canary Wharf headquarters in the latest change to its post-pandemic working practices. The 42nd floor, which was previously home to executives, will be used for client meeting rooms and collaborative spaces while top managers will hot desk on the open-plan 40th floor. “Our offices were empty [...]