By: Harriet Green

I am City A.M.'s deputy business features editor. I look after the Entrepreneurs page, Alternative Finance and our Office Politics section. I also help out with the Forum, running our daily debate. I have a special interest in distributed ledger technology. Prior to working at City A.M., I ran a social enterprise.

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Regulator slaps fine on SEI Investments Europe for client money breaches

November 26, 2013

The Financial Conduct Authority (FCA) has fined SEI Investments (Europe) £900,200 for failing to protect its client money properly. Between November 2007 and October 2012, SEI failed to make sure that its records and accounts were maintained in an accurate way, said the regulator. Under FCA rules, companies are required to keep client money separate [...]
China said to be planning new limits on interbank loans

November 26, 2013

China has drafted rules which suggest regulators are poised to place new limits on interbank loans, as first reported by the FT. The rules, drawn up by the China Banking Regulatory Commission, have been reviewed by the paper and are not yet public, but have been seen across the Chinese banking industry. Their implementation would [...]
New runway has to be at Gatwick says airport boss as traffic numbers rise

November 26, 2013

Gatwick saw pre-tax profits of £127.3m and a 4.4 per cent rise in passenger numbers in the six months ended 30 September. Turnover was up 10.7 per cent to £360.6m. Chief executive of London Gatwick Stewart Wingate said: “This is just the start of what Gatwick has to offer… The UK’s next runway has got [...]
Kcom chairman to become CEO as profits fall on continued investment

November 26, 2013

Communications and IT provider Kcom says it is to split the roles of chairman and chief executive, as its transformation programme, which it started in 2008, is almost complete. The company also said that executive director Kevin Walsh is to retire, after 14 years with the business. In a separate report, the Yorkshire-based business reported [...]
Severn Trent sees profits slide but keeps bill increases down

November 26, 2013

Water company Severn Trent has reported a 5.8 per cent fall in underlying group profit before tax to £141.3m, but says it's on target to deliver its full year expectations. In the six months ended 30 September, reported group profit suffered a 4.2 per cent loss to £255.7m. When it came to the rise in [...]
What you need to know before the open – 26/11

November 26, 2013

European markets are set to open mixed this morning after Brent prices recovered over the course of yesterday's trading. Prices initially saw a two per cent fall following the announcement of the Iran nuclear deal. Sepulchral start to European opening expected with derisory volumes continuing – FTSE -2, DAX +13, CAC -4 — David [...]
Big Six domestic profits increase but overall profits suffer a drop

November 25, 2013

(Ofgem) Ofgem has reported that the Big Six energy suppliers saw domestic profits jump 75 per cent last year. However, the report shows that total profits across supply and generation fell by £133m, or 3.4 per cent, on the previous year. This was a result of generation profits falling more than supply profits rose. Profits increased in [...]
Full steam ahead as government publishes HS2 hybrid Bill

November 25, 2013

The Bill for phase one of HS2, which gives the government the power to start building the railway, is being published today. The hybrid Bill, which is effectively the planning application for the scheme, will also give individuals the chance to petition parliament both for and against the proposals. Transport secretary Patrick Mcloughlin said: The Bill [...]
RBS says review of its lending was a tough read but accepts recommendations

November 25, 2013

RBS has called the review it commissioned into its lending to small and medium-sized businesses a "tough read". In a letter sent to the leader of the review, Sir Andrew Large, from the bank's chief executive Ross McEwan (pictured), the bank also confirmed that it has asked law firm Clifford Chance to investigate the treatment [...]
Regulator’s more transparent rules on commission for investment managers

November 25, 2013

The Financial Conduct Authority (FCA) has put forward improvements to the rules on how investment managers use client commissions. The changes will make sure that charges paid by consumers for the executing of trades and other related services, known as dealing commission, are "fairer and more transparent". The proposals are designed to ensure investment managers [...]

Darts drives Matchroom profit as promoter warns of gambling law impact

Darts drives Matchroom profit as promoter warns of gambling law impact

The mysterious media moguls behind London’s pink slime propaganda machine

By: Harriet Green

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