Exclusive: City fund managers on the impact of the third lockdown January 13, 2021 In this 2-part series, City A.M. asked UK-focused fund managers what they make of post-Brexit trade arrangements, the impact of three lockdowns and the long-term outlook for the UK’s investment community. Yesterday, in part 1, the investment managers focused on the UK-EU deal and which sectors and companies may become the winners and losers from [...]
City Moves: Who is switching jobs in the Square Mile this week? January 13, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. After a rocky year for business, City firms are continuing to adapt to the challenges of three national lockdowns and post-Brexit bureaucracy to keep things moving across the Square Mile. This week, Lloyd’s [...]
Staff returning to offices three days a week would be ‘royal result’ post-pandemic January 13, 2021 If staff who have been working from home during the pandemic return to the office for three days a week post-Covid, it will be a “right royal result”, David Buik has said. Buik, who has worked for more than 50 years in the City of London and contributes to the Great Wave of Change podcast, [...]
Pink goes offline as Covid takes the shirt off its back January 13, 2021 Pink Shirtmaker, the fashion retailer that became famous trading under the name Thomas Pink, has been shuttered by owner LVMH. Covid appears to have seen off the shirtmaker, which had been struggling for years and closed its Jermyn Street flagship in December. All traces of its social media channels, online store and links on the [...]
Christmas sales hike drives strong revenue growth at Asos January 13, 2021 Sales at fashion retailer Asos surged in the four months ending in December as the online shopping boom continued amid the coronavirus pandemic. The firm said that the hike in sales had led to a better-than-expected growth in revenue over the period leading up to Christmas. As a result of the strong start to the [...]
Before the Bell: Volatility remains low but Trump faces impeachment vote January 13, 2021 Stock markets had a relatively quiet session yesterday as there wasn’t any major news to influence sentiment in one way or another. European stocks lost ground as Covid-19 case numbers played on traders’ minds. Several governments have tight restrictions in place in a bid to get a handle on the virus – which is having [...]
Exclusive: City of London boss says financial services overlooked in Brexit talks January 13, 2021 City of London Corporation boss Catherine McGuinness has hit out at Boris Johnson’s government for taking financial services for granted and overlooking the City of London during the last two years of Brexit talks. McGuinness, who is policy chair at the powerful local authority, told City A.M. today that she wanted to see “those important [...]
Government can give real steel to the green revolution January 13, 2021 Governments around the world are accelerating action against climate change. The election of Joe Biden has raised hopes that the US will take a leap forward and we are seeing more ambitious targets being set for decarbonisation in Europe, Japan and even China. In the UK, Prime Minister Boris Johnson has set out a promising [...]
London’s fintech scene could be a winner from the Covid crisis January 13, 2021 We all know the Covid-19 pandemic has been, and for too many remains, a devastating time. It’s easy to be pessimistic, too, even as vaccine rollout speeds up. Life will not go back to ‘normal’ quickly – the events of the last ten months will have profound repercussions for health services, businesses, debt and fiscal [...]
Sterling strengthens after Bank boss Andrew Bailey dismisses negative rates talk January 12, 2021 The pound is stronger against the US dollar and the euro this evening after comments from Andrew Bailey