Lufthansa in talks with investors over sale of aircraft maintenance business September 15, 2022 Lufthansa is reportedly in talks to sell a stake in its aircraft maintenance business, Lufthansa Technik. According to Reuters sources, the airline is to offload between 20 and 30 per cent of its stake and was attracting more interest from financial investors than rival firms. The airline is also expected to commence talks with private [...]
Lawyers should be ‘ethically obliged’ to inform clients of climate risks, open letter says September 15, 2022 Lawyers have said the legal sector should be forced to inform their clients of the legal risks of investing in projects that are inconsistent with efforts to keep global warming below 1.5˚C In an open letter, more than 100 top lawyers called on regulators to ensure solicitors and barristers are “ethically obliged” to advise their [...]
Cheers! Cardano Foundation raises a glass to the Georgian wine industry September 15, 2022 The Cardano Foundation is creating a blockchain solution aimed at ensuring the quality and authenticity of Georgian wine.
Morgan Stanley’s Vishal Gupta and Carmignac’s Mark Denham named City’s top stock pickers in new research September 15, 2022 Morgan Stanley veteran Vishal Gupta is the City’s best portfolio manager when it comes to picking stocks, according to research released today. The Square Mile boss who works for Morgan Stanley Investment Management was recognised as the top brass in a study released by Essentia Analytics. Mark Denham of Carmignac came in second, while Jonathan [...]
OnlyFans should fork out more UK VAT for its subscribers, EU advises September 15, 2022 OnlyFans has been told by EU court advisors that it may need to fork out VAT on the full amount paid by subscribers, not just a discounted sum. OnlyFans’ parent firm Fenix took an initial grievance about VAT to a UK tribunal after HRMC ordered the UK based firm to pay VAT on all the [...]
Tube open for extra hour on Monday as thousands attend Queen’s funeral September 15, 2022 Most tube lines will remain open – in their entirety or partially – for an extra hour on Monday night as hundreds of thousands are expected to attend the Queen’s funeral. The Bakerloo, Victoria, Jubilee, Circle and Hammersmith & City lines will run entire services for the extra hour, with last services leaving at 1am [...]
H&M misses sales estimates as third quarter ‘got off to a weak start’ September 15, 2022 H&M has admitted its third-quarter “got off to a weak start” as shoppers fret about stark increases to household bills. The Swedish fashion group posted weaker than expected quarterly sales on Thursday, missing out on analyst expectations. Net sales were up three per cent from a year prior, at $5.4bn. However, Refinitiv analysts had expected [...]
Keystone Law ready to poach lawyers hit by downturn, firm chief James Knight says September 15, 2022 Keystone Law’s head has said the listed law firm is readying itself to profit on the looming economic downturn, with a view to poaching lawyers laid off from other firms. Speaking to City A.M. Keystone chief executive James Knight said the remote-first law firm is ready to pick up those lawyers facing heightened pressure to [...]
Bank of England says it never wanted bankers’ bonus cap as Kwarteng looks to scrap payout limit September 15, 2022 The Bank of England has said it never supported the bankers’ bonus cap amid speculation that Kwasi Kwarteng wants to scrap the policy post-Brexit. A spokesperson for the Bank told Reuters today that there were better ways to ensure banks account for risks than the EU-enforced restriction, which critics have said hurts the City’s global [...]
Rolls-Royce finalises £1.5bn sale of Spanish subsidiary to Bain September 15, 2022 Rolls-Royce has finalised the €1.8bn (£1.5bn) sale of Spanish subsidiary ITP Aero to a group of investors led by private equity giant Bain. Following the £1.5bn sale, shares went up 3 per cent. “ITP Aero will remain a key strategic supplier and partner for Rolls-Royce across both Civil Aerospace and Defence programmes,” Rolls Royce said [...]
