Drax shares hit by European probe into state aid for biofuel conversion January 6, 2016 Plans by Drax to convert its North Yorkshire coal power plant to instead burn biomass hit a stumbling block yesterday, when the European Commission (EC) said it will look into whether government subsidies to support the site’s conversion to the fuel amounted to state aid. Shares in the energy company were burned by the news [...]
Restaurants should cash in on the FreeFrom market and tolerate those with food intolerances January 5, 2016 NULL
A bigger London can be an even better London January 5, 2016 London is already Europe’s largest city, with a population in excess of 8.6m. The Greater London Authority expects this figure to climb to 11.3m over the next 25 years, but a fascinating report by Oxford Economics says that the GLA has underestimated the continuing boom, and that our city’s population will reach 12m by 2050. The [...]
Simply Business’ Jason Stockwood tells City A.M.: The future of insurance is in technology January 5, 2016 Insurance, Simply Business’ chief executive Jason Stockwood says, has lost its place in society. “When you really start to think about it, it’s such a valuable underpinning of a functioning society and yet customers don’t just see it that way,” he remarks. However, Stockwood is determined that insurance will be restored to its former glory, [...]
Happy New Fear: Chinese fireworks send panic through global stock markets January 5, 2016 Hopes of a New Year rally were shattered yesterday as fears over the health of the Chinese economy wiped trillions from stock markets and sparked concern of more turmoil to come. Investor confidence was further hampered by rising tensions in the Middle East as Saudi Arabia and its allies cut ties with Iran, accusing the country of [...]
Want to bring down global capitalism? Tweet Nat Rothschild… January 5, 2016 Nat Rothschild, the 44-year-old from an extensive lineage of financiers, has become the latest unlikely supporter of the anti-capitalist movement after retweeting sentiment to that effect at the weekend. On Sunday evening, a green badge holding London cab driver tweeted the statement: “This free market the Tories are so keen on is a myth, It’s capitalism [...]
Why the European Union is no friend of innovation January 4, 2016 The story of the e-cigarette ought to feature as a case study in every economics class and every business studies textbook on every campus in the land. It's a story containing all the forces that shape market economics and enterprising endeavours. The e-cig first emerged in response to changing social and regulatory conditions, as tobacco [...]
City A.M.’s journalists take a look at what 2016 has in store for the world of finance and business January 4, 2016 BANKING Strengthening outlook despite more regulatory bumps ahead Bank of England governor Mark Carney may have declared the banking crisis officially over at the end of last year, but 2016 looks to be far from a challenge-free year for Britain’s biggest banks. To be sure, all seven of the UK’s leading lenders passed the Bank’s [...]
Business confidence dips as the City braces itself for a challenging 2016 January 4, 2016 The City is bracing itself for a tough 2016, with data out today showing that business confidence has taken a knock and finance chiefs are approaching the new year with caution. Lloyds Bank’s business confidence index – a gauge of expected sales, orders and profits – declined to a score of 38 per cent this [...]
Beyond boom and bust: Interview with Herbert Smith Freehills’ UK head of corporate Ben Ward December 21, 2015 Ben Ward is not cautiously optimistic about the markets in 2016. He says that’s not positive enough – he’s really very optimistic, but insists that “sustainable growth” are his watchwords for 2016. Spoken like a true lawyer. Ward has just taken over as Herbert Smith Freehills’ (HSF) head of corporate in the UK, overseeing everything [...]
