CBI: Business group postpones all external events after fresh sexual misconduct claims April 4, 2023 The Confederation of British Industry (CBI), one of the UK’s biggest business groups, has postponed all external events after fresh allegations over sexual misconduct. The group will postpone events including its annual dinner, which is regularly attended by the Chancellor and was due to host Bank of England governor Andrew Bailey this year. It had [...]
London fintech Clearbank triples revenues to £58m as firms flee to BOE-backed safety April 4, 2023 London fintech Clearbank has revealed its revenues tripled to £58m last year as financial firms rushed to the firm amid market turmoil and sharp rate hikes.
Nigel Lawson and the City: If you seek his monument, look around April 4, 2023 The modern City of London simply would not exist without the reforms driven through by the late Nigel Lawson
Let’s face it: Profiteering is feeding the inflation beast, not just pay rises April 4, 2023 Inflation is a pernicious beast that is plainly bad for people and businesses. It can ease governments’ debt burdens by (artificially) boosting tax revenues, but that can lead to severe bouts of price rises that, often, lead to societal decay. So it’s easy to see why policymakers in the UK are sweating over the rate [...]
Quinn Emanuel to represent Credit Suisse AT1 bondholders as lawsuit inches closer April 3, 2023 Litigation specialists Quinn Emanuel have been instructed by a group of Credit Suisse bondholders to represent them in discussions with Swiss authorities and to prepare for “possible litigation” to recover losses from the forced takeover of Credit Suisse by UBS. Quinn Emanuel received a mandate from AT1 bondholders to represent them on Thursday last week, [...]
We can’t allow New York or Paris to further chip away at London’s competitive edge April 3, 2023 Competitors, such as New York, are continuing to make great strides in areas such as tech investment - one of London's key strenghts.
Speedy rate hikes could knock shaky UK economy, former BoE chief economist warns April 2, 2023 Former chief economist of the Bank of England Andy Haldane has cautioned his old colleagues against raising rates too fast, warning it might unsettle an economy that is on “unsteady legs”. “I think given the extent of tightening we had during the course of last year, and the early part of this, and given the [...]
Four day week, recession fears, Brexit and banking: The top five business news stories on City A.M. March 31, 2023 This week started off with markets trying to settle themselves after the chaos in the banking sector, so attention turned to work itself and the idea of a four-day week made for one of the most read stories online. Along with that story here are the four others that were the top five read business [...]
AI in our financial services: Already Impacting March 31, 2023 With the age of AI dawning, Lord Holmes says we have an important role to play in changing the game for the benefit all.
Is the future of banking online only? NatWest and Lloyds to axe 81 branches, taking this year’s total to 213. Here’s a list of closures: March 31, 2023 Two of the UK’s biggest banking groups have announced plans to make big cuts to their branch networks this year, cutting more than 80 sites from around the country. Lloyds Group and NatWest Group have said that the sites in England, Scotland, Wales and the Isle of Man will close between July and November this [...]