Commuting in the post-Covid world July 3, 2020 It’s a cliche to say that the Covid-19 pandemic has changed everything — we need to get over this and embrace “the new normal”. But change needs more than an embrace: it needs to be understood and thought-through, not rushed into headlong because everyone else is doing it. And nowhere is such consideration more necessary [...]
RBS chairman calls on Bank of England to lift dividend curbs July 3, 2020 The chairman of Royal Bank of Scotland (RBS) has called on the Bank of England to lift curbs on dividends by the autumn to make lenders more attractive to investors. The BoE had told lenders in March to scrap buybacks and dividends until the end of 2020 to bolster their finances in the face of [...]
Power of Inclusion events continue to raise awareness July 1, 2020 In the second of the popular Power of Inclusion events we continued to raise awareness of structural barriers and internal beliefs that stop those from diverse socioeconomic backgrounds progressing in their careers. The session focussed on recruitment and what it looks like to hire the best talent there is irrespective of their background or route into [...]
Exclusive: Elixirr seeks London IPO to end coronavirus drought June 19, 2020 Management consultancy firm Elixirr, whose clients have included Barclays, O2 and RBS, is seeking a London IPO, ending a two-month drought in flotations on the London Stock Exchange. Elixirr will seek a listing on London’s junior AIM exchange this summer, City A.M. can reveal. The company, founded in 2009, plans to go on an equity-funded [...]
Wood Group profits to fall by a fifth amid ‘unparalleled challenges’ for market June 19, 2020 Wood Group has predicted that first half profits will tumble by nearly one-fifth, amid the “unique and unparalleled challenges” presented by the coronavirus pandemic. The engineering giant said that the slump in oil prices led to delays in order intake. It added that first half revenues would be down about 11 per cent on the [...]
Cruise firm CMV seeks rescue deal or risks going under June 17, 2020 Cruise firm Cruise and Maritime Voyages (CMV) is in a race against time to secure emergency funding after the coronavirus crisis left it struggling to remain afloat. Sky News reported that Essex-based CMV, which employs 4,000 people, is in last-ditch negotiations with creditors and lenders after another rescue deal fell through. The previous talks were [...]
UK Finance boss quits over Amanda Staveley remarks June 16, 2020 UK Finance chief Stephen Jones has resigned just days after apologising to staff for sexist remarks made in 2008 about financier Amanda Staveley. Sky News first reported that Jones had offered his resignation, which UK Finance confirmed had been accepted. Jones said: “I have apologised to Ms Staveley and to my colleagues for the comments [...]
UK Finance chief in apology to staff over 2008 Staveley remarks June 13, 2020 UK Finance boss Stephen Jones has apologised to his staff for “wrong” and “inappropriate” remarks made about financier Amanda Staveley in 2008. In an internal memo seen by Sky News, Jones yesterday said he could not defend the remarks, understood to have been made as Ms. Staveley was negotiating a cash call on behalf of [...]
Travelex set for restructuring after auction process halted June 12, 2020 Debt investors in embattled foreign exchange provider Travelex are pushing the firm’s banks to negotiate a restructuring deal. Sky News reported that after an auction process stalled, bondholders represented by investment bank PJT Partners are pushing banks including Barclays and Goldman Sachs to enter negotiations. Travelex’s banks are owed about £90m by the company, while [...]
US stocks and FTSE 100 plunge after Fed’s long recovery warning June 11, 2020 The FTSE 100 suffered its worst daily drop since late March, with US stocks plunging into the red after the Federal Reserve effectively crushed hopes of a quick recovery. London’s blue-chip index closed down 3.99 per cent after crashing as much as 2.66 per cent this morning. And US stocks also crashed, with the Dow [...]