Lloyds axes 380 jobs but adds more amid digital strategy shake-up September 5, 2018 LLOYDS Banking Group is axing nearly 400 jobs as part of a company-wide shake-up to bolster its online and mobile services performance, it emerged last night. Roughly 435 new roles will also be created in the efforts to compete in an increasingly digital market. A Lloyds spokesperson said that the new roles will be created [...]
Property-lending challenger firm Glenhawk lands £75m funding September 5, 2018 Short-term finance disruptor Glenhawk has secured £75m of funding in a sign of the UK’s rapidly growing alternative property-lending sector, City A.M. can reveal today. The latest cash injection from two UK institutions, one of which is Shawbrook Bank, comes six months after the specialist lender launched, having amassed a pipeline of £35m and lent over [...]
John Lewis axes jobs amid name rebranding September 5, 2018 Department store chain John Lewis is cutting 300 jobs as part of a back office shake-up, it emerged yesterday. The job losses come as the retailer changes its name to “John Lewis & Partners” in an effort to underline the point that it is owned by its employees. A number of IT, finance and store [...]
Facebook partners up with online giants in move into UK property market September 5, 2018 Facebook is to list properties from two of the UK’s largest online estate agent on its website, in a sign that the social media giant is dipping its toes into the UK property market. In a partnership with Facebook Marketplace, Zoopla and OnTheMarket (OTM) both announced yesterday that their UK agents’ home rental property listings [...]
Parliament a no-show for Viagogo as committee chair accuses firm of ‘gross discourtesy’ September 5, 2018 The head of an influential committee of MPs launched a scathing attack on Viagogo today after the controversial ticket resale giant snubbed a parliamentary hearing for the second time in as many years. Damian Collins, who chairs the department for digital, culture, media and sport (DCMS) select committee, slammed the act of non-attendance as a [...]
London’s tech cluster ranked largest in Europe September 4, 2018 London's tech cluster has been ranked the largest in Europe, according to research today which suggests there has been a surge of millennial talent coming into the UK. The capital saw off the likes of Paris, Madrid and Rome to finish top of an index which ranked Europe’s largest technology clusters based on the size, [...]
Elon Musk in deep waters after reigniting feud with British diver in sweary outburst September 4, 2018 Elon Musk reignited his attacks on a British diver involved in the recent Thai cave rescue operation late this evening. In a series of bizarre and foul-mouthed emails sent to BuzzFeed this evening, the Tesla boss doubled down on previous remarks he had made in which he accused Vern Unsowrth of being a "pedo". Addressing a [...]
Insurer D&G weighs up return to London Stock Exchange September 4, 2018 Household insurance provider Domestic & General (D&G) is considering a return to London’s stock market after an 11-year absence in a potential listing that would value the company at £1.5bn. CVC Capital Parters, the private equity fund that owns D&G, has appointed Rothschild to advice the firm over plans for an initial public offering (IPO), [...]
Theresa May mulls major rail review following East Coast fiasco September 4, 2018 Plans for a sweeping review of the UK’s rail franchising system are being drawn up by the government, as Downing Street hunts for a way to solve the country’s transport woes without abandoning the use of private operators. Several sources confirmed to City A.M. that Theresa May is strongly considering a review into the UK’s [...]
Real estate giant swoops in for prime London student property September 4, 2018 One of Europe’s largest real estate investors agreed to buy a prime central London student block for nearly £70m today, in a move that reflects the growing level of property investment being poured into the capital’s student accommodation sector. Aberdeen Standard Investments, which manages more than £43bn of real estate assets, has splashed out £68.8m [...]
