UK banks can pat themselves on the back, but the system is still feeling the stress November 30, 2018 Breathe a sigh of relief: once again, all financial institutions have passed the Bank of England’s annual stress tests. But look beneath the surface, and suddenly the various allowances made this week start to undermine the good news. First, if the impact of the new accounting standard IFRS 9 that came into force in January was [...]
A new hope: Backing firms of the future November 30, 2018 If you missed the big news of the last couple of weeks, you must have been hiding under a rock. And no, I’m not talking about the Prime Minister’s Brexit deal – but rather Small Business Saturday, which is returning for a sixth year on 1 December. This is the most important day in the calendar [...]
Tulip tower may interfere with radar systems, warns London City Airport November 28, 2018 Plans to build the City’s Tulip had just begun to blossom last week after developers submitted proposals for the new 1,000 ft tower, but now concerns over whether the building might interfere with air traffic radar systems have threatened to stall the project. London City Airport has insisted that construction cannot be given the green [...]
Vita Mojo shakes things up with a £10m series A fundraise, backed by Investec November 28, 2018 Healthy food-focused restaurant chain Vita Mojo has raised £10m in a series A fundraising round led by Investec Bank, as it heads for expansion. The firm said it is now "coming out of stealth mode" to help other businesses with its technology, having already signed up a few major customers such as Virgin Active, Chilango and Wokit. [...]
UK braces itself for a battering from Storm Diana as winds approach 70mph November 28, 2018 Brits are set to endure a downpour and buffeting winds as Storm Diana hits the UK today. The Met Office issued yellow weather warnings for western part of the UK this morning, with delays expected to public transport and routes carrying large vehicles from gales of up to 70mph. Severe rainfall will affect other parts [...]
Like southern Europe, Britain’s stagnant regions are stuck in a monetary union trap November 28, 2018 The Economic Statistics Centre of Excellence created a bit of a stir at the end of last week with its estimates of growth in the regions of the UK. Since the recovery from the financial crisis began during 2009, London’s economy has grown by 26 per cent. At the other end of the scale, output [...]
A no-deal Brexit might be the best thing for the UK, so argue the contrarians November 27, 2018 The Prime Minister is fighting for her deal. So she should. There is no majority in parliament for a hard Brexit. Nor is the EU likely to grant meaningful concessions at this stage apart from cosmetic tweaking, if that. Labour’s position is to disregard the referendum result by staying in the single market and the [...]
Spain’s ‘Airbnb for long-term rentals’ taps King’s Cross as its new global headquarters November 26, 2018 Spanish property tech startup Spotahome has picked out London’s King’s Cross as its new global headquarters, thanks to the UK’s reputation as a great source of highly-skilled digital talent. Spotahome’s chief executive Alejandro Artacho told City A.M. that he believes the capital to be the best place to channel growth and take the business global. [...]
Developer secures £125m loan for student digs in the City November 26, 2018 University pads might be more typically associated with sprawling campuses than the City of London’s cramped financial district, but developers today secured a multi-million pound loan for a landmark student accommodation scheme within the Square Mile. In a fresh sign of the booming investor appetite for London’s student property assets, developer and student accommodation operator [...]
Your commute to work can help change the world as the UK strives to meet the UN’s ambitious goals November 26, 2018 Are you cutting back on your use of plastic bags? Do you opt for the bus or train, or walk when going on a journey rather than taking your car? Have you ever spoken out when you’ve seen a glaring example of gender inequality? If so, then you’re already contributing to an ambitious global plan [...]