Peter Harrison: The City must back Sunak’s vision for the stock market April 26, 2021 The relationship between the stock market and the economy is fundamental to any nation’s wealth. Without the effective channelling of capital to the best businesses, all suffer. For decades, London has been a world-leading financial hub, but now its future is less certain. First, consider an example of its success. Exactly 20 years ago, a [...]
Liz Truss aims for UK to join CPTPP trading bloc in the next 12 months April 25, 2021 International trade secretary Liz Truss has said she is aiming for the UK to join a major trading bloc with countries like Mexico and Australia within the next 12 months. Truss finished up three days of face-to-face negotiations with Australian trade minister Dan Tehan in London earlier this week, with both sides saying a deal [...]
Sunday Sitdown: ‘Skittish’ banks need to up their game, says CEO of Ezbob April 25, 2021 Following a nightmare year that was hugely disrupted by the pandemic and three subsequent lockdowns, the City is slowly switching into recovery mode as the economy starts to re-open and many sectors are coming back to life. To discuss the way back up, City A.M. sits down with Tomer Guriel, chief executive of Marble Arch-based [...]
Labour calls for independent commission on standards after Cummings slams PM’s integrity April 24, 2021 The Labour Party has called for an independent commission on ethics and standards in government after Dominic Cummings, the Prime Minister’s former top adviser, criticised Boris Johnson’s integrity. On Friday Dominic Cummings, who left Johnson’s staff suddenly late last year having previously been his most influential adviser over Brexit and the 2019 election campaign, denied [...]
As the capital recovers, the next Mayor of London cannot ignore the tech and investor community April 23, 2021 When the candidates for the Mayoral election gathered at Here East in 2016 to speak to the capital’s technology community, no one could have predicted the extent to which Brexit and a global health pandemic would utterly transform the five years that followed. Unfortunately, since then, it seems the ambition of London’s tech sector appears [...]
How God guided Brexit: Anglicans mostly Brexiteers while Catholics are remainers April 23, 2021 Faith played an important in the UK’s choice to leave Europe, with Anglicans more likely to back Brexit. One in five Brits had religious beliefs that made them more likely to vote Leave and a quarter of voters’ faiths meant they were more likely Remain voters, according to a new study shared with City A.M. [...]
UK will stay financial services leader without EU equivalence deal, says KPMG boss April 23, 2021 If the UK and EU fail to agree an equivalence deal it will not be the end of the world, according to KPMG’s head of FS Karim Haji, who was feeling upbeat about the future of financial services in the UK. Haji, who was made KPMG’s head of FS in June 2019, acknowledged an equivalence [...]
‘Bitter’ Dominic Cummings accused of leaking Boris Johnson’s text messages to James Dyson and Mohammed bin Salman April 23, 2021 Boris Johnson’s former aide Dominic Cummings has been blamed for the leaking of the Prime Minister’s text messages. An internal inquiry has been launched into how messages between the Prime Minister and billionaire Sir James Dyson were leaked to journalists. But reports said Downing Street sources are pointing the finger at Cummings, who quit as [...]
EU financial services czar warns City that Brussels won’t bend on rule-taking demands April 22, 2021 The EU is in “no rush” to grant the City of London renewed access to its financial markets post-Brexit, according to a senior Brussels official. Mairead McGuinness, the European Commissioner for financial services, said today that Brussels will “not be recreating access to the single market for the UK as they have chosen to move [...]
Strong trade ties with India could put the UK in pole position to join the CPTPP and face up to China April 22, 2021 Boris Johnson has cancelled his planned visit to India after coronavirus cases spiralled out of control. Moving the conversation online, in the way many of us have done this past year, in no way diminishes the importance of the discussions he and Prime Minister Modi will have in the coming weeks. Their dialogue is occurring [...]