Financier Amanda Staveley loses High Court battle with Barclays February 26, 2021 Financier Amanda Staveley who sued Barclays over the behaviour of bank bosses when negotiating investment deals during the financial crash has lost her court battle. The high-profile trial centred around the claim that Barclays gave Staveley’s private equity firm PCP Capital Partners less favourable treatment than other parties in the emergency £7.3bn fundraising that saved [...]
EU likely to grant the City limited equivalence, says French minister February 26, 2021 The EU may grant the City limited access to its financial services market to allow the UK to do business across the bloc, a French minister has said. A minister close to Emmanuel Macron, Clement Beaune said Brussels may be able to grant limited equivalence by the middle of the year. Speaking to Bloomberg he [...]
Kalifa Review: Others waiting for UK fintech’s ‘crown to slip’ February 26, 2021 The head of the much-awaited government-backed review into the fintech industry has warned the UK risks falling behind if recommendations aren’t quickly implemented. Former head of payments firm Worldpay Ron Kalifa led the review published today which sets out plans to capitalise on the growing fintech industry. The scope of the review is large, ranging [...]
Fewest cars produced in January since 2009 February 26, 2021 Last month saw the weakest January for car production since the financial crisis as a combination of the pandemic and global supply issues knocked the industry. Just 86,052 cars were built last month, down 27.3 per cent year on year, and the lowest number since 2009. It also marked the 17th straight month of declining [...]
Exclusive: UK finance leaders want buoyant investment as we enter post-Covid world February 26, 2021 UK finance leaders are gearing up for a year of eager investment as Covid recovery prospects boost economic positivity, according to a report by procurement consultancy Proxima. The survey found that a combination of political change and post-Covid visions are underpinning an overwhelmingly positive outlook. So, what will the future bring for the UK’s wounded [...]
London City boss joins calls for global approach to lifting travel restrictions February 26, 2021 The boss of London City airport has today joined calls for the government to lead the way in implementing a set of “globally recognised travel standards” to get the capital thriving again. His comments came as business body London First said the government should champion measures allowing visitors with either proof of vaccination or a [...]
City of London’s prospects as global derivatives capital remain bright February 25, 2021 UK-based financial institutions have used the past four years to develop and implement (re)location strategies, working on the assumption of a harder Brexit and lose historic passporting rights, and hence unfettered access to EU markets. As things stand, London does indeed not have any equivalence agreements in place with the EU. This explains why we [...]
Exclusive: Square Mile veteran Joe Nally looks back on 45 years in the City February 25, 2021 Tomorrow, Joe Nally will retire from Cenkos Securities, a firm he co-founded 18 years ago, after a career of more than 45 years in the City. Nally, who was previously a partner at Williams De Broe, is one of the few remaining individual members of the International Stock Exchange of London who is still working. [...]
Talks continue over future of Vauxhall plant at Ellesmere Port February 25, 2021 Talks with the government over the future of Vauxhall’s plant at Ellesmere Port in Cheshire are still ongoing, parent company Stellantis said today. The company is reportedly considering building electric cars at the plant, but no agreement has yet been reached. The head of Stellantis’ Opel and Vauxhall unit Michael Lohscheller told Bloomberg: “At this [...]
Liz Truss set to speak to Biden’s new trade boss about US whisky tariffs February 25, 2021 International trade secretary Liz Truss will speak to Joe Biden’s new US trade boss in the coming days about scrapping a range of tariffs on British goods, including Scotch whisky. Truss told MPs today that she would be speaking to incoming US Trade Representative Katherine Tai as soon as she finishes her Senate confirmation hearings, [...]