Eurostar receives £250m refinancing package after months of waiting May 18, 2021 Eurostar today announced that it had received a £250m refinancing package from a group of banks in a bid to shore up its finances amid the Covid-19 pandemic. The firm said that the deal, which comprises £50m shareholder equity, £150m shareholder guaranteed loans and £50m restructured existing loan facilities, would be guaranteed by majority shareholder [...]
SFO launches money laundering probe into Gupta family over ties to Greensill Capital May 14, 2021 The Serious Fraud Office (SFO) said this morning it is launching an investigation into the Gupta Family Group Alliance. “The SFO is investigating suspected fraud, fraudulent trading and money laundering in relation to the financing and conduct of the business of companies within the Gupta Family Group Alliance (GFG), including its financing arrangements with Greensill [...]
Brexit transfers: Barclays, Goldman Sachs and Morgan Stanley move senior City dealmakers to the EU May 14, 2021 Investment giants Morgan Stanley, Goldman Sachs and Barclays have started to move a range of senior bankers from their offices in Canary Wharf and the City to financial hubs across the EU. Ongoing uncertainty over the UK’s access to the EU’s financial services market, combined with pandemic damage and pressure from local regulators, has led [...]
Some post-Brexit EU jobseekers end up in detention upon arrival May 13, 2021 A small number of jobseekers arriving into the UK have been sent to immigration removal centres, held in airport detention rooms or expelled. Among them are EU citizens with job interviews in the UK, The Guardian reports. When it comes to EU citizens looking for work in the UK, some rules since Brexit are straightforward [...]
The City is the global gateway for financial flows post-Brexit, says Africa’s rising finance star May 13, 2021 With the focus of Brexit being on the relationship between the UK and EU, some in the City and beyond argue that not enough attention is given to the international impact of Brexit, specifically on Africa. With the removal of European market caps, there has been an increase in trade between the UK and Africa, [...]
Champions League-chasing Chelsea – and women’s football more generally – on the cusp of something extraordinary May 13, 2021 As the strangest football season on record hurtles to a climax, blue is most certainly the colour. While the sky blues of Manchester City contemplate a treble almost on par with their neighbours’ efforts in 1999, Chelsea can claim a double of their own if they beat City in the Champions League final and defeat [...]
80 per cent of BP shareholders reject climate proposals to reduce emissions May 12, 2021 Shareholders have voted against a plan that would have forced BP to strengthen its climate commitments. More than 79 per cent of investors voted against a resolution proposed by shareholder group Follow This, which pushes oil companies to reduce their emissions. BP said that 20.6 per cent of votes were in favour of the plan. [...]
JP Morgan’s UK staff set to return to office from next month May 11, 2021 JP Morgan has told its UK staff that more of them will return to the office from next month as restrictions start to ease. The American bank told staff to prepare for a “consistent schedule” which combines both remote and office working but offices will operate at maximum 50 per cent of capacity, according to [...]
Extinction Rebellion co-founder arrested after attacks on Canary Wharf banks May 11, 2021 Extinction Rebellion co-founder Gail Bradbrook was arrested at her home this morning for conspiracy to cause criminal damage and fraud after her group attacked banks in Canary Wharf. Activists from Extinction Rebellion smashed the window frontage of HSBC and Barclays last month. They have also targeted Lloyd’s of London, where they dumped fake coal outside [...]
UK Government sell shares of bailed-out NatWest for £1.1bn as stake shrinks to 55 per cent May 11, 2021 UK Government sell shares of bailed-out NatWest for £1.1bn as stake shrinks to 55 per cent