City Moves for 27 February 2017 – who’s switching jobs? February 27, 2017 Today's City Moves cover legal eagles, market strategy and insurance. Take a look at these movers and shakers: Dorsey & Whitney LLP Employment law specialist Bob Cordran has joined international law firm Dorsey & Whitney’s London office as a partner. Bob, formerly a partner at Marriott Harrison LLP, is an experienced employment lawyer who has [...]
Interest rate rise could push 18,000 more into bankruptcy February 27, 2017 A hike in interest rates will push thousands more Britons into bankruptcy, according to calculations from the government’s Insolvency Service. The forecasts show an extra 18,000 people could be pushed into insolvency by 2020 if rates rise by one per cent, says accountancy firm Moore Stephens. If rates rise, 275,900 people will be bankrupted by [...]
Philip Hammond enlists Mark Carney and Simon Kirby for first UK FinTech conference February 26, 2017 The government will host its first ever International FinTech conference as part of FinTech Week 2017, chancellor Philip Hammond announced today. City minister Simon Kirby and Bank of England governor Mark Carney will join the chancellor at the conference, which will feature panels and workshops as well as opportunities for UK FinTech firms to pitch [...]
Buy a house worth worshipping like one of these ultra-ambitious and clever church conversions February 24, 2017 British buyers in particular want to tick three boxes when they go house-hunting; location, space and character. Church conversions offer all three. They’re often in the centre of town, where they would have been convenient for parishioners; have high ceilings and a generous footprint; and are often packed with historical details and period features. Here [...]
German central bank chief renews efforts to woo British banks – and questions the “sanity” of Brexit negotiations February 24, 2017 “Sanity” will not be the main principle of negotiations over Brexit, according to an influential central banker, as he renewed efforts to woo British-based banks to move to Europe. Andreas Dombret, an executive board member at the German Bundesbank, said political considerations will override economic concerns in a speech delivered in London at the consultancy [...]
This is how City analysts reacted to RBS’ results February 24, 2017 Royal Bank of Scotland reported its ninth consecutive annual loss this morning, pushing shares down two per cent. The lender's losses widened to £6.96bn in 2016, compared with £1.98bn the year before, largely due to litigation and conduct costs. This is how the analysts reacted: Groundhog Day RBS chief exec Ross McEwan "must feel that he is [...]
Britain is an oasis of calm amid Europe’s political chaos February 24, 2017 In a fit of pique at the Brexit vote, the Dutch Prime Minister Mark Rutte told MEPs last July that Britain had “collapsed – politically, economically, monetarily and constitutionally”. Embarrassingly for him, events have proven otherwise, with the UK posting the strongest growth in the G7 in the final quarter of 2016, the Bank of England still [...]
Be under no illusions: The National Living Wage will cost jobs February 24, 2017 Imagine that you didn’t know how cold weather and turning on the heat affected the temperature of a room. You’d watch the boiler burn more or less gas, and you’d watch the weather get colder and hotter, but if the thermostat and central heating were working properly there’d be no change in the temperature of [...]
Editor’s Notes: Snapchat woos London investors, Venezuela’s vice president reaches a new low and Channel 4’s Jon Snow needs to get a grip February 24, 2017 Are you a Snapchatter? Do you even know what I’m talking about? Snapchat is a social media app that allows users to send images and videos to each other, often augmented by the addition of creative filters or effects. It’s also increasingly used as a platform for viewing and sharing news content. You may not [...]
Barclays boss Jes Staley spills the beans on Dodd-Frank, Brexit and robots February 23, 2017 Barclays boss Jes Staley was in a chatty mood today – perhaps unsurprising given his bank just announced it had nearly tripled its yearly profits. However, it wasn't just bottom lines and capital ratios the banking chief executive spoke about, as he shared his words of wisdom on a slew of other issues weighing on the [...]