Junior market miner Savannah Resources in tie-up with Rio Tinto for new Mozambique mine June 21, 2015 Aim-listed miner Savannah Resources is embarking on a transformational partnership with major Rio Tinto to develop a new mine in Mozambique. Savannah’s wholly owned subsidiary, AME East Africa, has entered into a joint venture agreement with the FTSE 100 group, City A.M. can reveal. The two companies will develop a large-scale commercial heavy minerals sands [...]
National Grid boss Steve Holliday preparing to step down in 2016 June 21, 2015 National Grid boss Steve Holliday is to leave the company in early 2016, after 14 years with the company and nine as chief executive. Holliday previously worked at US oil major Exxon and was a non-executive director of Marks & Spencer until July last year. The FTSE 100 company may be considering a number of [...]
Can mayoral hopeful Tessa Jowell build One London and win back City Hall for Labour? June 21, 2015 When asked what sets her apart from the other candidates competing for the Labour party’s nomination for mayor of London, Dame Tessa Jowell says, without missing a beat, “I’m the candidate who can win.” The 67-year-old former culture secretary and Olympics minister told City A.M. last week that she has the experience, policies and [...]
London firms gaining confidence despite warnings over exports dip June 21, 2015 Businesses in London are gaining more confidence despite growing concerns around political and economic uncertainty, but the UK economy is growing unbalanced and too reliant on domestic demand, according to new research out today. The most recent ICAEW/Grant Thornton UK Business Confidence Monitor reveals that the confidence index for London stands at 16.2, up from [...]
Taste of London celebrates best of City menus June 21, 2015 NO EXPENSE was spared last week for Taste of London, the gastronomic Glastonbury, with the city’s finest chefs and restaurateurs out in force. European-focused airline and festival sponsors Cityjet were more excited than any to sample the best of London’s offerings, parking their Garden Party Enclosure right next to the VIP area complete with canapes, [...]
Pret-a-Protest: Sandwiches provoke boos June 21, 2015 If Saturday’s protest taught us anything, it’s that people love swearing. A small group of 20 protestors – salacious banners in-tow – jeered at people going into the local Pret-a-Manger for a much needed tea-break. “I was booed mercilessly for going to Pret,” activist Sophie Higgins told The Capitalist: “I should’ve seen it coming really.” [...]
Retailers send George Osborne their budget wish list June 21, 2015 British retailers are calling on the chancellor to eschew the living wage and introduce new measures to boost productivity in next month’s emergency budget. In a new submission to chancellor George Osborne, the British Retail Consortium (BRC) said that it wants the government to “work with the retail industry to ensure that employees are [...]
Rush of large Aim listings causes fee fall June 21, 2015 BIG BUSINESS listings on the Alternative Investment Market (Aim) have meant a sharp drop in listing costs, new research reveals. Studies by national accountancy group UHY Hacker Young have revealed that professional fee costs have fallen sharply since 2013, with the amount paid by firms floating on Aim dropping from 9.5 per cent in 2013 [...]
Manufacturers focus on skills and tax breaks June 21, 2015 THE MANUFACTURING sector also outlined its summer budget demands today, asking for tax breaks for investment and access to skills. The annual investment allowance, which allows firms to deduct the full value of a qualifying item from profits before tax, is currently set at £500,000 and is temporary. The manufacturers’ body EEF said its wants [...]
City Moves for 22 June 2015 | Who’s switching jobs June 21, 2015 Millstream Management Services Simon Crewe has been appointed managing director of the retirement development manager. He has over 25 years’ experience in the industry, and has also served as managing director of Goldsborough Estates, part of Bupa UK. JLT Re Craig Brokenshire has been appointed global chief operating officer at the reinsurance broking and consultancy [...]
