Chancellor George Osborne has secured the backing of five investment banks as he seeks to protect the role of the City after Brexit July 7, 2016 George Osborne has secured the support of the leaders of five investment banks as the government seeks to protect the City following last month's Brexit vote. Osborne met with bosses from Standard Chartered, Goldman Sachs, Bank of America Merrill Lynch, Morgan Stanley International and JP Morgan earlier today. And now the bankers and Osborne have [...]
Asset managers close the gate on £15bn-£20bn funds July 7, 2016 Post-referendum reverberated through the City yesterday as several more property funds were forced to shut the gate on their investors, while the value of the pound languished below $1.30. Six companies’ funds, with an estimated value of £15bn to £20bn, have been frozen this week as fears over the consequences of the UK’s vote to leave [...]
Sadiq Khan is to institute a £10 charge for London’s most polluting vehicles, while accelerating the planned expansion of the ultra-low emission zone July 5, 2016 Sadiq Khan has fleshed out his proposals to tackle London's air quality, including specifying new charges for drivers in environmentally unfriendly vehicles. Khan made tacking the city's pollution a key plank of his election platform, and figures last month showed that Londoners living in the capital’s most deprived boroughs are significantly more likely to die [...]
Sons of London’s Sepand Oboudiyat on cow bellies, Italian artisans and fast fashion July 4, 2016 "Bob Diamond wouldn’t hire a guy who had bad shoes," Sepand Oboudiyat informs me. And the latter has done very well out of the City’s predilection for fine footwear. The founder of new men’s shoe brand Sons of London has only been trading for seven months, but he’s already seen 75 per cent growth month-on-month. Sitting at [...]
Brexit wrecks it: Brits shun big ticket buys July 4, 2016 The future of retail was uncertain even before the country voted to leave the European Union. Now, grocers and high street department stores have more than just discounters and the internet to deal with: they have to navigate changing trade relationships, weather a possible downturn in consumer sentiment, and adapt to shifting spending patterns as well. So what’s next for UK [...]
Osborne to slash corporation tax to below 15 per cent in bid to create a “super-competitive economy” July 3, 2016 George Osborne is planning to slash corporation tax to below 15 per cent in a bid to create a "super-competitive economy". The cuts are part of the chancellor's plan to attract businesses discouraged from investing in Britain following Brexit. In an interview with the Financial Times, Osborne said he wants Britain to boast the lowest corporation tax rate of [...]
Tens of thousands march in London to protest the Brexit vote July 2, 2016 Tens of thousands of people are marching in London today to protest the UK's democratic decision to leave the European Union. Protesters taking part in #marchforeurope are heading to Parliament holding banners saying slogans such as "I am really quite cross", "Shame on liars, xenophobes, Farage Johnson Gove" and "2nd Referendum". There will be speakers at Parliament Square from [...]
These are the things that are likely to happen before Brexit July 1, 2016 There has been much speculation over when the formal Brexit process will start, with no clear deadline set. Now bookmaker Betway has issued a list of things that are likely to take place before Article 50 is triggered, which will kick off the UK's official withdrawal from the EU. The betting firm has odds of 1/14 [...]
AmazonFresh opens up to new London postcodes June 30, 2016 US online retailer Amazon has expanded its recently launched fresh food delivery service, Amazon Fresh, across London. Its footprint has grown from 69 to 128 London postcodes less than a month after it began the service in London. Amazon Fresh’s arrival sent shockwaves through the grocery industry. Online supermarket Ocado’s shares fell to a three-year [...]
Boris Johnson pulls out of Conservative leadership race – leaving Theresa May odds-on to become next Tory leader June 30, 2016 Boris Johnson has announced he will not seek the Tory leadership, after weeks of speculation that the former London mayor was hoping to become the next Prime Minister. "Having consulted colleagues and in view of the circumstances in parliament I have concluded that [the next Conservative leader] cannot be me," he said in a speech at [...]