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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Talks between South Africa’s platinum miners and union reach deadlock

March 5, 2014

Lonmin said today that mediation talks between South Africa’s three largest platinum miners and the militant Association of Mineworkers and Construction Union (Amcu) have been suspended, as the respective parties’ positions are too far apart to warrant further discussions. Amcu, which represents the majority of workers at the three mining companies, has told its members [...]
GS Elevator author explains all in open letter

March 5, 2014

The author of the @GSElevator Twitter feed has had an interesting start to the year. In January it was announced that the anonymous author of the feed (which famously tweets conversations “overheard” in the Goldman Sachs elevator) had signed a six-figure book deal with publisher Simon & Schuster and would be writing a mud-slinging expose [...]
FCA announces new regulator for £75 trillion payments systems industry

March 5, 2014

Another announcement this morning from the Financial Conduct Authority (FCA). The City watchdog has unveiled plans for a new regulator to oversee UK payment systems. Introduced by April of next year, the regulator will monitor the £75 trillion payment systems industry, which processes over 7bn transactions each year. Competition will be "high on the agenda" [...]
Bank of America Merrill Lynch bolsters UK team

March 5, 2014

Bank of America Merrill Lynch (BoAML), which has been playing a leading role in some of the biggest transactions in the London market so far this year, has appointed a new head of UK equity capital markets (ECM). The bank, which is advising on the Pets at Home flotation, the RSA rights issue and worked [...]
Banks pay another £175m to small businesses for swaps mis-selling

March 5, 2014

The Financial Conduct Authority’s (FCA) published its latest figures on its interest rate hedging product redress scheme. In February, a total of £482m was paid out by the UK’s four largest banks in February – from £306.3m in January. 3,430 businesses have now accepted payments from Lloyds, Barclays, HSBC and RBS, but the regulator says [...]
UK services sector weathers storms in February

March 5, 2014

The UK’s resilient services sector came in at a better-than-expected 58.2 in February. Analysts had expected a reading of 58.0. Although its lowest since June 2013, business activity continued to pick up month-on-month, sliding very slightly from January’s 58.3. Chris Williams, Markit’s chief economist, said that, given the weather-related disruptions seen over the month, the [...]
A 32-month high for Eurozone economic growth

March 5, 2014

Manufacturing and services activity in the Eurozone hit a 32-month high in February, with Markit’s composite purchase managers’ index hitting 53.3. Analysts had expected a reading of 52.7. The Eurozone service sector improved in the month, also beating estimates at 52.6 (expected 51.7, just above January’s reading). The readings, says IHS Global Insight's Howard Archer, [...]
StanChart shares jump despite ugly results

March 5, 2014

Emerging markets bank Standard Chartered has posted a full-year profit go $6.9bn (£4.1bn) for last year, down seven per cent on 2012, saying it didn’t have “a great year”. Statutory profit before tax fell 11 per cent to $6.1bn. Lower levels of transaction banking income in wholesale banking, and higher levels of impariment in its [...]
Calmer markets come off sharp gains

March 5, 2014

European bourses edged slightly lower at the open, as tensions over Ukraine ease but investors remain cautious. Ukrainian prime minister Arseniy Yatsenyuk has just said that Russian “aggression” is having an extremely negative effect on the country’s struggling economy. The US has demanded Russian forces are pulled back from Crimea. Russia’s Micex index fell 1.8 [...]
What you need to know before the open

March 5, 2014

European stocks futures have been steadying further this morning after the extreme volatility seen at the beginning of the week. Equities are expected to open slightly lower, following a record finish in the US yesterday. US secretary of state John Kerry is set to sit down in talks with Sergei Lavrov, the Russian foreign minister, [...]

Ticket reseller StubHub fined nearly £1m for hiding fees

Government is set to deal major blow to Big Tech’s moves into sports rights

Procter & Gamble axes relationship with Kremlin propaganda channel

By: Harriet Green

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