Tom Hayes has launched the next stage of his Libor appeal to the CCRC January 30, 2017 Tom Hayes, the first person in the UK to be found guilty of playing a role in the Libor-rigging scandal, has submitted an appeal to the Criminal Cases Review (CCRC). Karen Todner, the former UBS and Citigroup trader's solicitor, said Hayes has been the subject of a "gross miscarriage of justice" and she's confident the CCRC will [...]
It looks like Snapchat will IPO on the NYSE January 30, 2017 Snapchat parent company Snap has chosen the New York Stock Exchange for its hotly-anticipated IPO, CNBC is reporting. The NYSE triumphed in the battle with Nasdaq for the hottest tech float in quite some time. Snap is expected to file publicly for the IPO as soon as this week, Recode has reported, going public as early as March. [...]
Is Ireland Brexit-ready? Inside Dublin’s bid to win financial services power from London January 30, 2017 Riding the airport shuttle bus through Dublin’s financial services centre on a sunny January afternoon, and looking forward to a pint of Guinness at the journey’s end, the prospect of the City of London losing jobs to Ireland doesn’t seem too upsetting. Located to the east of the city on the River Liffey, the financial [...]
With reports Barclays has chosen Dublin for its EU HQ, will Ireland be the beneficiary of any City Brexodus? January 30, 2017 Daniel Mahoney, head of economic research at the Centre for Policy Studies, says Yes. Although Theresa May has provided a degree of clarity on the Brexit negotiations, remaining uncertainties mean that financial service firms will, inevitably, seek to implement some restructuring and contingency planning. Ireland is well placed to take advantage of this. Ireland shares [...]
Tom Hayes expected to launch next stage of Libor appeal this week, as convicted Barclays pair due in front of Court of Appeal January 29, 2017 Tom Hayes, the first person in the UK to be found guilty of playing a role in the Libor-rigging scandal, is due to kick off the next stage of his appeal against his conviction in the coming days. City A.M. understands the former UBS and Citigroup trader will likely file his appeal to the Criminal Cases [...]
Amanda Staveley’s legal row with Barclays to reach crunch point this week January 29, 2017 It's a critical week for Amanda Staveley's legal battle with Barclays, with a judge due to decide whether the City financier can have access to documents key to her case. PCP Capital Partners, the investment vehicle Staveley founded, is suing the banking giant for almost £1bn over the way it handled a 2008 emergency fundraising. PCP [...]
More than 12 offers on the table for Agent Provocateur January 29, 2017 At least a dozen offers have been made for troubled lingerie brand Agent Provocateur, according to sources familiar with the chain's owner. Private equity company 3i put the retailer up for sale this month following disappointing December trading. The firm is seeking an offer which exceeds the brand's £30m debt pile. Sources close to the [...]
Telefonica is working through a strategic plan that will pave the way for O2 float January 29, 2017 O2's owner has set the ball rolling on a strategic plan to clear legacy issues before either floating or selling the British mobile phone operator, according to reports. Singapore's sovereign wealth fund, GIC, is working with private equity fund CVC to buy a controlling share in Telefonica's infrastructure division in a deal worth €1.5bn (£1.3bn), the [...]
Behind the deal: These are the bankers and advisers working on the £3.7bn Tesco-Booker tie-up January 27, 2017 Tesco’s £3.7bn deal for wholesaler Booker is an early boost for the UK’s 2017 M&A market, following a rather subdued 2016. Below are details of the bankers and advisers behind the deal. Tesco advisers It’s increasingly difficult to find a big UK deal without a boutique investment bank at its centre. And this £3.7bn merger proved [...]
City Moves for 27 January 2017 – who’s switching jobs? January 27, 2017 Today's City Moves covers the real estate, finance and legal sectors. Take a look at these movers and shakers: Colliers International Apara Guha has been appointed as director in Colliers International’s Europe, Middle East and Africa (EMEA) corporate solutions team. Apara brings more than 20 years’ experience of first generation outsourcing and emerging markets, business [...]