Panama Papers: Mossack Fonseca data leak reveals how global elite use tax havens to protect their riches April 3, 2016 A leak of confidential documents from one of the world's largest offshore law firms, Mossack Fonseca, has revealed how the world's rich and powerful have been using tax havens to hide their wealth. The documents, which were obtained by German newspaper Suddeutsche Zeitung, allegedly show how Mossack Fonseca has helped its clients launder money, dodge sanctions, and evade tax. [...]
Premier Foods boss should keep bidders hungry April 1, 2016 Rival international bidders, restive shareholders and conflicting pension deficit assumptions: like all chefs, Gavin Darby is juggling an eclectic mix of ingredients. His company, Premier Foods, home to Mr Kipling, Bisto and Sharwoods, looks tastier than it has for years. A fresh offer from McCormick of the US, worth 65p-a-share, has rightly prompted Darby and his [...]
Steel crisis: The government must save the people, but not the industry April 1, 2016 This has been a sobering week for Britain’s once mighty steel industry. The problems that have led to Tata’s decision to sell its loss-making UK operations have been building for decades, and as politicians take pot shots over who could have done more to save the industry in recent years, it’s worth remembering just how [...]
City Moves for 1 April 2016 | Who’s switching jobs April 1, 2016 Squire Patton Boggs Squire Patton Boggs has announced that Andrew Herring has been appointed partner in the London office. Andrew, a well-known rail and transportation sector lawyer, will join the firm’s real estate practice, working with the global infrastructure and construction groups. He joins from DWF. He specialises in advising public and private sector clients [...]
The national living wage is a ticking time bomb of hidden costs for British businesses April 1, 2016 The national living wage is expected to hit British businesses with hundreds of millions in hidden costs this year, in addition to the £804m already estimated – hindering investment and creating a time bomb that will blast through bottom lines by 2020. Figures from the government’s regulatory watchdog show employers may find themselves dealing with the [...]
Beyonce and Topshop are about to launch their new sportswear brand Ivy Park March 31, 2016 Global superstar Beyonce has partnered with one of the best-known British brands to launch a new sportswear range. The pop star has teamed up with Topshop to create Ivy Park, a collection of fitness clothing, which will launch in two weeks. The products will be available in the UK at Topshop, Selfridges, JD Sports and [...]
Tesco prepares to sell off restaurant chain Giraffe March 31, 2016 Tesco is preparing for another disposal and sounding out potential buyers for restaurant business Giraffe. The supermarket bought the chain in 2013 for £49m, with plans to open Giraffe branches beside its stores. At the time, Tesco said the deal was an "opportunity to develop some of the space in our larger stores to create retail destinations [...]
Christie’s is auctioning off the world’s largest blue diamond – the Oppenheimer Blue – which could go for up to $45m March 31, 2016 Jewel connoisseurs will have the opportunity to pick up one of the world's "most legendary" diamonds in May, when the Oppenheimer Blue is put on the market by Christie's. Weighing 14.62 carats, the Oppenheimer Blue will be the largest vivid blue diamond ever to appear at auction – and is estimated to be worth between [...]
Join City A.M. for a live mayoral debate clash March 31, 2016 There's no doubt about it, London’s mayoral election campaign is getting dirty. The two leading candidates, Labour’s Sadiq Khan and Tory Zac Goldsmith are trading blows on everything from funding pledges to character attacks. When it comes to policy, one of the central debates can be found on the age-old battleground of London politics: transport fares. [...]
City Moves for 31 March 2016 | Who’s switching jobs March 31, 2016 Bank of Ireland Corporate Banking Bank of Ireland Corporate Banking has appointed Kelvin Aston as head of its industrial manufacturing business, based in the bank’s London head office. Kelvin has been an executive director involved in the industrial sector for the past 20 years and has over 35 years’ experience within banking, initially at Barclays [...]
