The Hut Group plots mega £4.5bn London initial public offering August 27, 2020 The Hut Group today unveiled plans for a £4.5bn float on the London Stock Exchange in a move that is set to land its co-founder a bumper payday. The consumer brands retailer, which is based at Manchester Airport, said in a filing that it intends to carry out a free float of at least 20 [...]
UK hospitality firms predict 41 per cent drop in summer sales August 27, 2020 UK hospitality firms are predicting a 41 per cent drop in sales over the summer months, although businesses are optimistic that trade will pick up this winter. According to the latest research, six per cent of hospitality and leisure sector companies are confident about growth this summer. However confidence surges in the winter months, with [...]
Ex-Australian PM Tony Abbott to be given top UK trade role August 26, 2020 Former Australian Prime Minister Tony Abbott is set to be unveiled as Boris Johnson’s choice to lead the UK’s post-Brexit trade mission. Abbott has reportedly been appointed as joint president – along with trade secretary Liz Truss – to Britain’s Board of Trade and will be tasked with promoting the UK as a trade destination [...]
City figures brought in to advise on UK trade negotiations August 25, 2020 Some of the City of London’s most prominent business leaders have been drafted in by the government to consult on the UK’s ongoing trade negotiations. Leaders from companies such as EY, Barclays and HSBC will be members of the Department of International Trade’s newly formed trade advisory groups. The government is simultaneously negotiating trade deal [...]
Rishi Sunak to tighten Treasury assessments for new projects August 23, 2020 Rishi Sunak has threatened government departments that he will be tougher in assessing new infrastructure projects as the Treasury begins to worry about the UK’s bulging deficit. The chancellor will reportedly give the Treasury more oversight of infrastructure spending by giving more power to experts to assess projects, before they report directly to himself and [...]
Women in banking are judged differently, says Dame Jayne-Anne Gadhia August 18, 2020 Former Virgin Money boss Dame Jayne-Anne Gadhia has said she believes women in the City are treated differently to men. Gadhia, who left Virgin Money to set up fintech startup Snoop, recalls being labelled a “bloody difficult woman” throughout her career. Speaking to entrepreneur podcast “Can I ask you a personal question?” she said: “There is [...]
Ranked: Monzo and Starling top list of best UK banks August 17, 2020 Digital fintechs Monzo and Starling are better than traditional banks at providing the best service to personal banking customers, according to a recent survey. The Competition and Markets Authority (CMA) conducted a survey of around 1,000 customers of each of the 19 largest personal current account providers in Britain to rank the best and worst [...]
Goldman and Barclays eye General Motors’ credit card business August 12, 2020 Goldman Sachs and Barclays are reportedly among bidders for General Motors credit card unit. The two banks are among a small number of suitors for the car company’s credit card business which has about $3bn (£2.3bn) in outstanding balances, according to The Wall Street Journal. Goldman currently has a relatively small presence in consumer banking, [...]
London calling: Why it’s time to bring life back to our city’s streets August 10, 2020 Despite a tentative easing of the national lockdown, the lingering economic and social consequences of this policy are frighteningly obvious to anyone venturing into central London. While social life and economic activity has, to a large extent, returned to the outer zones and suburbs, the offices and shops of London’s professional districts remain eerily and [...]
Barclays probed by privacy watchdog over reports of spying on staff August 9, 2020 Barclays is being investigated by the Information Commissioner’s Office (ICO) following accusations that it spied on its staff. The UK’s data and privacy watchdog said a formal probe is ongoing, but could not say when it may conclude. It follows a report by City A.M. earlier this year that Barclays was piloting a system which [...]