FTSE 100 firm Informa in talks to buy London events rival UBM in £3bn deal January 16, 2018 London-headquartered publisher and events company Informa is in talks to buy rival UBM in a deal which could be worth as much as £3bn. A tie-up between the two firms would create the world’s largest business-to-business events company, with well over 11,000 employees at the two firms. The firms were forced to reveal the “preliminary [...]
Boom time: Clear Bank founder Nick Ogden on his efforts to start a British banking revolution January 15, 2018 Even in the ancient world of City banking, 250 years is a long time. Yet that was how long the UK has had to wait for a new clearing bank until Nick Ogden launched Clear Bank out of the blue last year. A decades-long consolidation of clearing banks – which provide banking services to other [...]
Ex-Barclays boss Bob Diamond not among digital challenger bank Tandem’s new investors January 11, 2018 Former Barclays boss Bob Diamond will not be making a return to British retail banking, having ruled out taking a stake in digital challenger Tandem. Diamond’s Atlas Merchant Capital had been one of several potential investors in talks with the fintech company in recent months, but is not part of a new funding round that [...]
Philip Hammond to EU: Ditch the Brexit punishment and start talking trade January 10, 2018 Philip Hammond will tonight slam the “relative silence” of the EU over our future trading partnership and stress the bloc must ditch any thoughts of “punishing” the UK for Brexit. Speaking at the Die Welt economic summit dinner in Berlin this evening, the chancellor will tell the EU that “it takes two to tango” and [...]
Downing Street calls City chiefs in for latest Brexit meeting January 10, 2018 Securing a Brexit transitional deal will be high up the agenda for the chief executives of some of the City’s biggest firms at a high-level roundtable tomorrow afternoon with Theresa May. Around a dozen senior figures from firms including Goldman Sachs, Barclays and HSBC are expected to meet the Prime Minister, along with chancellor Philip [...]
Who is the new City minister? Salisbury MP John Glen takes reins from Steve Barclay as Theresa May’s reshuffle concludes January 9, 2018 Salisbury MP John Glen has been named the new City minister, as Theresa May’s reshuffle concludes. Glen, who will have responsibility for Brexit, takes the reins from Steve Barclay at a critical point in the withdrawal process. He is the 11th economic secretary to the Treasury in the last decade, with the role being held [...]
Exclusive: John Glen to be named new City minister in Theresa May’s reshuffle January 9, 2018 Salisbury MP John Glen is to be named the new City minister, as Theresa May's reshuffle concludes, City A.M. has learned. Glen, who will have responsibility for Brexit, takes the reins from Steve Barclay at a critical point in the withdrawal process. He is the 11th economic secretary to the Treasury in the last decade, [...]
Intercontinental Exchange, Deutsche Borse and the London Metal Exchange granted last-minute reprieve from Mifid II futures rules January 3, 2018 The largest regulatory shake-up in a generation finally hit markets across Europe yesterday, but got off to a more turbulent start than European authorities expected. The UK’s finanial regulator and its German counterpart began the day by allowing three of the world’s largest exchange groups to delay the implementation of new rules, designed to boost [...]
Crystal ball time: We asked the experts what’s in store for 2018 for stocks, bonds, currencies and economics January 3, 2018 At the start of 2017 investors might have been forgiven for expecting a more predictable year ahead. If they were, they were sorely disappointed by a year of intrigue – and yet asset prices kept rising, despite the drama. We asked the experts to dust off their crystal balls once more to see what lies [...]
Goldman Sachs’ fourth-quarter earnings take a hit on Donald Trump’s tax changes December 29, 2017 Goldman Sachs has estimated that President Donald Trump’s tax changes will knock billions of its earnings. The investment giant has said in a filing to regulators that its fourth-quarter results, which are due in January, will be hit by $5bn (£3.7bn) as a result of the tax changes being brought in by the Trump administration. [...]