Mark Kleinman: The must-read City column June 15, 2023 Mark Kleinman, City editor of Sky News, writes fortnightly for City A.M. This week he opines on the ICAEW, Eton's new Provost and the future of the Telegraph
Ex-Barclays boss: Banks must adapt or face ‘slow decline’ under pressure from tech firms June 12, 2023 Ex-Barclays boss Antony Jenkins has warned established banks that they could be in a “world of very slow decline” if they failed to adapt to new technologies. Speaking to City A.M., Jenkins said “this industry is really on the brink of having to undergo radical transformation if it’s going to remain relevant to its customers.” [...]
Women’s Super League revenues grow by 60 per cent as teams head for sustainability June 12, 2023 Women’s Super League clubs are on a path to sustainability after growing revenues by 60 per cent in a year. WSL teams’ collective income swelled from £20m to £32m in 2021-22, according to analysis by Deloitte published today. And it is expected to have enjoyed another substantial uplift this season as WSL attendances grew by [...]
Hedge fund boss Sir Paul Marshall plots Spectator swoop June 11, 2023 Hedge fund boss Sir Paul Marshall is mulling a potential bid for the Spectator magazine after its parent company was forced into receivership last week, according to reports.
Wrightbus secures £50m government-backed loan to boost hydrogen bus exports June 9, 2023 Sustainable bus maker Wrightbus has today secured a £50m government-backed loan to turbocharge exports of electric and hydrogen-powered buses. The agreement will see the UK’s Export Finance (UKEF) agency guarantee 80 per cent of the loan, from Barclays bank. The firm said the backing will allow it to deliver orders to new markets including Germany [...]
Standard Chartered to cut around 100 jobs worldwide as bank seeks to cut costs by $1bn – reports June 8, 2023 Standard Chartered is laying off employees across Singapore, Hong Kong and London following a series of cuts across the sector in recent months. According to Bloomberg News, the bank could cut over 100 employees although it is yet to determine a final number. In Asia, roles have been cut in middle-office functions, like human resources [...]
JP Morgan leads rivals on AI recruitment as UK banks struggle to attract talent June 7, 2023 JP Morgan is leading the field in AI recruitment as banks around the world race to capitalise on the opportunities created by the new technology. According to a new report from consultancy Evident, JP Morgan is hiring twice as many AI-related jobs as its rivals. The Wall Street giant advertised 3,651 jobs in AI between [...]
Telegraph and Spectator to be put up for sale as bank takes over parent firm June 7, 2023 The Telegraph newspapers and Spectator magazine are set to be put up for sale after their parent organisation was forced into receivership due to unpaid debts. The firm’s holding company B.UK, owned by the billionaire Barclay family, was placed into receivership by the Bank of Scotland after the firm failed to strike a deal on [...]
CBI: Rishi Sunak refuses to say business body will be back in the room June 7, 2023 The Confederation of British Industry survived a confidence vote on its future yesterday, after members voted in favour of the scandal-hit lobbying organisation’s transformation plan. However, overnight the Prime Minister Rishi Sunak suggested that may not be enough for the body to be invited back into key meetings on business policy with the government. Matters [...]
FTSE 100 close: London index retraces losses on softer pound June 6, 2023 London’s FTSE 100 retraced losses today, shaking off investor fears over the risk of the effects of a US recession rippling throughout the global economy. The capital’s premier index climbed 0.37 per cent to 7,628.11 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, jumped [...]