City Spirits: Cinco de Mayo is the perfect chance to look afresh at tequila May 5, 2021 It’s not been a vintage twelve months for travelling, as we all know. But that doesn’t mean you can’t get away, even momentarily, with a taste of further afield. Cinco de Mayo, Mexico’s biggest party day of the year, is upon us – and one of the best ways to raise a glass to Mexico, [...]
Barclays to offer climate vote to investors next year May 5, 2021 Barclays will offer investors a vote on its climate policy at next year’s investor meeting after pressure from activists and shareholders to become greener. The bank will devise extra climate targets in consultation with shareholders, its chairman Nigel Higgins told a webcast investor meeting today. Barclays set itself a target in March 2020 to reach [...]
Issa brothers offer to sell 27 petrol stations to resolve Asda takeover competition dispute May 5, 2021 The Issa brothers, the billionaire businessmen who recently bought Asda, have agreed to sell 27 of their EG Group petrol stations to resolve a competition dispute related to the takeover. Last month the Competition and Markets Authority launched an investigation into the Issa brothers and TDR Capital’s takeover of the supermarket, saying the deal raises [...]
City Moves: Who’s switching jobs in the Square Mile this week? May 5, 2021 City A.M.‘s Millie Turner provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. OneBanks hires ex–Lloyds chief as its first CTO Shared branch banking venture OneBanks has appointed a former Lloyds Bank executive as its first chief technology officer (CTO) this week. Andy Willmot, once [...]
Mayor of London election: Where do the major candidates stand on law and order? May 5, 2021 With the 6 May mayor of London election coming up, City A.M. is producing a four-piece series on where the four leading candidates stand on different issues. Today, we look at law and order policies from the candidates from Labour, the Conservatives, the Green Party and the Liberal Democrats. Sadiq Khan Khan has promised to [...]
EU urged to bring in tougher climate finance rules May 5, 2021 European Union policymakers today faced a call to break a ‘climate-finance doom loop’ by making banks hold up to three times more capital to cover risks from fossil fuel activities. Finance Watch, which campaigns to improve how finance works for society, has written to EU President Ursula von der Leyen, urging the union to toughen [...]
Editorial: London has deserved more from an insipid Mayoral contest May 5, 2021 It is fair to say the year-long delay to the London Mayoral election has not increased the appetite for it. Nor have the last few months been a vintage political campaign of sharp differences, eye-catching promises and grand visions for the future. That’s a shame. London is a global city and will reinvent itself post-pandemic. [...]
Hiscox sets aside $47m for freak Texas snowstorm May 5, 2021 Hiscox has reserved $47m for payouts related to storm Uri, a devastating winter storm that raged through the Southern United States in February, with much of the damage concentrated in Texas. Payouts for the insurance industry as a whole stand at around $15bn, according to Hiscox, of which it owes $47m. The deep freeze in [...]
Markets stumble but Doge continues climb ahead of Musk’s SNL appearance May 5, 2021 Bitcoin and Ethereum stumble, Doge continues climb ahead of Elon Musk’s appearance on Saturday Night Live.
Travel finance start-up raises £10m to build up US operations May 5, 2021 A new fintech firm offering users the chance to split the cost of travel over 12 months has raised another £10m in funding, it was announced today. Start-up Fly Now Pay Later has now raised a total of £45m in funding following the close of its latest round, co-led by asset management firms Revenio Capital and [...]
