Unilever hits back over City fury at Dutch move September 25, 2018 Unilever has stepped up its charm offensive on City investors as it tries to combat a brewing shareholder revolt over plans to ditch its London headquarters. The consumer goods giant has organised meetings with the most vocal opponents of the plans in an attempt to assuage their fears, although its attempts to change minds have [...]
Q&A: Adam Tooze on the financial crisis, Trump and the City of London after Brexit September 25, 2018 Ten years after the start of the financial crisis, Columbia University historian Adam Tooze’s epic work of economic history, Crashed, describes a world still coming to terms with its aftermath. He spoke to City A.M. about the US, the City of London, and where the next crash could come from. Why write this book [...]
Hedge fund manager Sir Chris Hohn reduces stake in London Stock Exchange Group after prominent activist campaign September 24, 2018 The activist investor who mounted a campaign to remove the chair of the London Stock Exchange (LSE) Group's board has sold the majority of his stake in the firm. Sir Chris Hohn's vehicle, The Children's Investment (TCI) Fund, notified the market today that it had sold approximately 3.26 per cent of the company's shares. [...]
Frankfurt winning race with Paris for Brexit bank moves September 24, 2018 Frankfurt is winning the race to attract the banking jobs moving out of London because of Brexit, with 25 lenders having moved operations there ahead of the UK's departure from the EU, new research published today shows. Paris, which has been aggressively courting the City's financial institutions, has attracted nine moves, while Luxembourg and [...]
Digital bank Monzo reaches a million current account customers September 24, 2018 Digital bank Monzo has reached the million-customer milestone just weeks after it was revealed it will join the ranks of Britain's fintech "unicorns". The millionth customer for the app-based bank signed up over the weekend, Monzo announced today. Some 20,000 new customers sign up for the bank per week, an acceleration even from August, [...]
British manufacturing output growth weakens as exports hit slowest in almost a year September 24, 2018 Growth in the British manufacturing sector slowed as exports cooled, according to data published today. Expansion in output slowed to the lowest since May in September, the survey of more than 400 major manufacturers by the Confederation of British Industry (CBI) showed. Exports weakened to the slowest expansion since October 2017, with a balance [...]
Bank Pekao backs London as post-Brexit gateway to Poland September 24, 2018 The boss of Poland’s biggest corporate and investment bank has backed the City to remain Europe’s top financial hub as he targets increased investor interest in the growing Polish economy. Michal Krupinski, Bank Pekao’s chief executive, will today unveil a new London office to serve the large British investor community looking for Polish assets, as [...]
Debt burden means more turbulence ahead for global markets, BIS warns September 23, 2018 Overstretched asset valuations and high debt loads across the world are likely to trigger further dramatic turbulence on markets, the head of an influential group of central bankers warned today. A quarterly review by the Bank for International Settlements (BIS), known as the central bankers’ central bank, warned that markets in advanced economies were strained, [...]
City jobs bump bucks trend as salaries entice workers September 21, 2018 City hiring picked up in August, bucking the downward trend of the past year amid uncertainty over the status of financial services post-Brexit, data to be published today will show. The number of jobs available in the Square Mile rose by 10 per cent during the month, according to recruitment firm Morgan McKinley – although [...]
Four-fifths of manufacturers not ready for no-deal Brexit as economists warn of £40bn hit September 21, 2018 The vast majority of British manufacturers are unprepared for a no-deal Brexit, a poll will show today, as economists predict a major £40bn hit to the UK economy in the event of a disorderly exit from the EU. More than four in every five manufacturing firms say they are not prepared, the survey by the [...]
