Fund managers back scheme to tackle underrepresentation of Black people in the City August 17, 2020 The fund management industry has come together to tackle the chronic underrepresentation of Black talent in the City. The #100blackinterns initiative, which launches today, will bring together many of the industry’s leading names to give opportunities to university educated Black people trying to establish a career in the City. Eighty leading firms, including Legal & [...]
The City View: City A.M. co-founder Lawson Muncaster on returning the newspaper to print August 17, 2020 Subscribe to The City View Podcast: Apple / Google / Spotify / RSS In this episode Christian is joined by Lawson Muncaster, co-founder and managing director of City A.M., to discuss the challenges posed by the last five months and the decision to return to print for Monday 7 September. Lawson discusses how the company adapted to survive; what life could look [...]
Crispin Odey draws up emergency plan ahead of assault trial August 16, 2020 Crispin Odey’s hedge fund business is reportedly drawing up contingency plans which could be activated if he is convicted of indecent assault. Odey Asset Management is preparing an emergency scheme to deal with the hedge fund manager’s absence, according to the Sunday Times. Among contingency plans is the closure of his flagship European fund, with [...]
Tesco introduces free delivery as it prepares to confront Amazon August 16, 2020 Tesco will introduce free delivery in its latest bid to head off Amazon’s attempt to muscle in on the British grocery market. Tesco boss Dave Lewis today told the Sunday Telegraph that the supermarket will add free delivery to its Clubcard Plus loyalty scheme. It comes after the technology giant announced last month it would [...]
Debenhams draws up contingency plans for liquidation August 16, 2020 Debenhams’ owners have begun drawing up plans for the liquidation of the department store, which could threaten thousands of jobs. The retailer is understood to have appointed Hilco Capital, which specialises in restructuring and refinancing firms, as a contingency plan. Hilco’s appointment was first reported by Sky News and was described over the weekend as [...]
Schroders becomes first major City firm to make home working permanent August 16, 2020 Fund manager Schroders will allow thousands of its employees to continue working from home even after the pandemic, marking a huge shift in the way the City works. The FTSE-100 listed firm is the first major City institution to tell staff they will not be required to return to the office five days a week. [...]
Mike Ashley’s Frasers Group bids for DW Sports August 16, 2020 Mike Ashley’s Frasers Group has reportedly made a bid for DW Sports, the sports retail empire of his old rival Dave Whelan which collapsed earlier this month. DW Sports announced it had appointed BDO as its administrator at the start of August. It said it would be winding down its retail business, with its website [...]
Canary Wharf is ‘open for business’ as firms head back to the office August 10, 2020 As City firms prepare their return to the office, the chief executive of Canary Wharf Group has declared the development is open for business. Shobi Khan told City A.M. that everything is in place for a return to office life at Canary Wharf, which is home to some of the world’s leading firms. Companies had [...]
England coronavirus cases level off in past week August 7, 2020 The number of people testing positive for coronavirus in the community has levelled off in England in the past week, according to new figures. The latest data from the Office for National Statistics (ONS) show an estimated 28,300 people in England had the virus between 27 July to 2 August. It equates to approximately 0.05 [...]
Activist investor ValueAct sells entire stake in Rolls-Royce August 7, 2020 Shares in Rolls-Royce edged lower on Friday morning after news that activist shareholder ValueAct had sold its entire stake in the firm. The activist built up a 10 per cent stake in Rolls-Royce in 2015 after a string of profit warnings, but has now decided to exit the firm, according to the Financial Times. ValueAct’s [...]
