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 [...]
Global investors back London to retain financial centre crown after Brexit June 30, 2016 London will retain its position as a world-leading financial centre despite last week’s Brexit vote, according to a poll of global institutional investors seen by City A.M. Two-thirds of those surveyed by FTI Consulting said the capital is unlikely to lose this coveted status. The results of the survey emerge as the FTSE 100 staged [...]
Farewell London, hello Edinburgh? Financial services will find a new home if we leave the Single Market June 28, 2016 So we know London didn’t vote to leave the EU and nor did Scotland or Northern Ireland. But we know England did. For many Scots – like me – who have built global businesses out of London as Europe’s financial capital, there is a real sense that this vote and therefore Brexit is “not in my name”. [...]
What will Brexit mean for the City? June 27, 2016 Online protest-petitions aside, the people have spoken and the UK is now facing an exit from the European Union. What might this mean for the City, and Britain’s businesses more broadly? The short term We are already in the midst of extreme political uncertainty, and thus it is unsurprising to see panic and volatility in the [...]
Your Monday coffee boost: There is now a Nespresso cafe in the City of London June 27, 2016 Coffee connoisseurs in need of a boost this Monday need look no further than the new Cafe Nespresso, which opened its doors today on Cheapside in the City of London. At the first UK cafe pilot, following a successful trial last year in Vienna, fans can be treated to non-alcoholic coffee mocktails including rose cappucino, [...]
Shadow business secretary Angela Eagle set to quit as Corbyn faces leadership revolt June 26, 2016 Shadow business secretary Angela Eagle will be one of the next high profile members of Jeremy Corbyn's shadow cabinet to quit, City A.M. understands. In total, 11 members of the shadow cabinet have resigned while shadow foreign secretary Hilary Benn was sacked in the early hours of Sunday morning for allegedly encouraging ministers to resign. Senior Labour MPs [...]
EU referendum: London Chamber of Commerce renews calls for London business visa June 26, 2016 London needs to make it easier for foreign skilled workers to come to the capital, the London Chamber of Commerce and Industry has warned. Last week’s vote for the UK to quit the European Union means London will struggle to remain competitive with European cities, the business group’s chief executive Colin Stanbridge told City A.M. The [...]
Sadiq Khan and the City of London corporation have promised to fight for the rights of City businesses to access customers in the EU June 26, 2016 The Mayor of London has vowed to fight for the City's access to Europe's single market, including vital rights estimated to be worth billions to UK-based institutions. Sadiq Khan last night told City A.M. the loss of passporting – the system that allows UK-regulated banks to operate across the European Union – would be “a disaster”. [...]
Here’s why a petition for a second referendum is a “waste of time”, according to Britain’s election expert John Curtice June 25, 2016 The petition to hold a second referendum, which has attracted nearly two million signatures, is a "waste of time", a top expert has said. Professor John Curtice of Strathclyde University, whose exit poll last year accurately predicted the Conservatives would win the general election, has branded the petition a "waste of time". Curtice told City A.M.: "The point of [...]
Sadiq Khan: London must have a seat around Brexit negotiating table June 25, 2016 London mayor Sadiq Khan, who was a prominent Remain supporter, has said the capital "needs a seat around" the Brexit negotiating table. Speaking to LBC Radio, Khan said: "London was the one city in England that voted to remain in the EU. We didn't just vote by a small amount, 60 per cent voted to remain, that's a big big win." [...]