George stands by his yuan: Osborne to press ahead with plans to connect British and Chinese stock exchanges January 13, 2016 Chancellor George Osborne is pressing ahead with plans to connect the British and Chinese stock exchanges despite heightened market fears over volatility in the Chinese markets. Osborne used a speech in Shanghai last September to announce a new “feasibility study” into connecting the UK and Chinese markets, writing at the time in City A.M. that [...]
Don’t ignore the City in the great Brexit debate January 12, 2016 Although there is much we don’t yet know about the forthcoming referendum of Britain’s membership of the EU (such as when the vote will take place and what the terms will look like), we do now have some clarity on the issue of how much freedom the PM intends to give his own ministers to [...]
City Moves for 12 January 2016 | Who’s switching jobs January 12, 2016 RPC Consulting Chris Carson has joined RPC Consulting – the insurance consultancy arm of RPC – as a partner from PwC. Chris has over 28 years’ experience in the insurance sector and while at PwC, he led the Big Four accountancy firm’s insurance advisory practice across EMEA. Chris has worked at board level with Direct [...]
Telegraph workplace monitors: Newspaper to remove controversial devices after one day of use January 11, 2016 The Telegraph has decided to remove under-desk sensors installed to monitor staff activity, after just one day of use, City A.M. has learned. In a message seen by City A.M., the newspaper's management said the devices were being withdrawn due to feedback from staff. The internal message said: "In the light of feedback we have received from staff [...]
Reasons to be cheerful: One, two, three (and 4) January 11, 2016 The New Year has not been especially happy, so far, in the world of business and finance. The FTSE is down, China is chaotic, oil is plumbing new depths, and even desperate retailers are replacing their top execs or trying to snap up rivals. But it’s worth remembering that there are two sides to every coin, [...]
City Moves for 11 January 2016 – Who’s switching jobs January 11, 2016 CBRE Matthew Leitch (pictured) has been appointed as senior director at CBRE Residential. He will be based in the commercial real estate services and investment firm’s Canary Wharf office and will be focused on the prime east London market. Matthew joins from Savills, where spent over five years as a director in the residential development [...]
Anglo American set to kick off $1bn sale of Brazilian business in bid to prop up balance sheet January 11, 2016 Anglo American is poised to kick off the $1bn (£680m) sale of its Brazilian niobium and phosphate business as the firm attempts to raise cash to prop up its ailing balance sheet. Facing a rapid decline in demand for commodities off the back of an economic slowdown in China, Anglo American said in December that it [...]
Deal spree to provide relief to the City with Shire on verge of tie-up with Baxalta January 11, 2016 A string of mega deals is set to provide welcome relief to the City after a rocky start to the year saw £85bn wiped off the value of the UK’s biggest firms in the first trading week of 2016. London-listed pharmaceutical giant Shire is on the verge of inking a £22bn deal with US rival Baxalta, [...]
New Axa Insurance boss Amanda Blanc on the company’s plans for growth January 11, 2016 Amanda Blanc began the new year as chief executive of a reorganised Axa Insurance. Previously the head of Axa Commercial Lines and Personal Intermediary, as of 1 January Blanc has taken on responsibility for the French group’s insurance business in the UK and Ireland, a change that doesn’t seem to have phased her. “I feel like [...]
Corbyn, business and the diplomatic dance January 8, 2016 Hands up: who was gripped by Jeremy Corbyn’s reshuffle this week? By normal Westminster standards this wasn’t exactly a swift and decisive event. It started late on Sunday night and is just about wrapping up now. Westminster watchers were in overdrive, camped outside the office of the Leader of the Opposition, live-blogging every twist and [...]
