City Moves for 25 January 2017 – who’s switching jobs? January 25, 2017 Today's City Moves cover legal eagles, a digital business aimed transforming financial services firms and specialist lender Aldermore. Seddons Susan Monty is joining law firm Seddons as commercial litigation partner. Susan specialises in the resolution of complex financial and regulatory disputes and joins from Simons Muirhead & Burton, where she headed up the financial crime, civil [...]
The CMA has aired its dirty laundry after it suggests collusion between two laundry services January 20, 2017 The Competition and Markets Authority (CMA) has provisionally concluded two NHS suppliers of cleanroom laundry services have created a market-sharing agreement, breaking competition law. The CMA found between May 2012 to February 2016, the suppliers, Micronclean Limited and Berendsen Cleanroom Services Limited, had an arrangement under which they divided up customers by geographical territory, as well as [...]
Vodafone returns to Sweden with Tele2 partnership to centralise services January 18, 2017 Vodafone today unveiled a new partnership with the Tele2 that will centralise services across Sweden, Latvia and Lithuania. Stockholm-listed Tele2 is a major player on the continent, operating across nine counties with over 14m customers. Read more: Vodafone beats expectations as it continues to monitor Brexit implications The partnership commenced on 1 January and Vodafone partner markets [...]
Ladbrokes Coral’s shares are on the up as bad run of results fails to hamper annual performance January 18, 2017 Ladbroke Coral's share price jumped over three per cent this morning after revealing its results are on track to fall in line with expectations. The figures Operating profit is expected to be in the range of £275m-£285m. The formerly separate entity Coral contributed around £179m of this with the original Ladbrokes division generating £101m. The profits [...]
City eyes best possible access to Europe’s Single Market January 16, 2017 The City is shifting to a new focus on best possible access to Europe's Single Market, rather than pinning hopes on continued membership of the trading bloc, as it prepares for the Prime Minister to announce a so-called clean Brexit tomorrow. In a much anticipated speech, Theresa May is expected to make clear the UK’s [...]
Tit for tat approach to foreign investment expected in 2017, as governments prepare to get hands on with markets gone wrong January 16, 2017 This year could mark a move towards more protectionist attitudes, with governments closing the door on countries they feel give their own firms a raw deal, a report out today cautions. Law firm Freshfields Bruckhaus Deringer's Global Antitrust report highlights a shift towards protectionism, as new trade deals begin to take shape following both Donald Trump's surprise [...]
City Moves for 12 January 2017 | Who’s switching jobs January 12, 2017 White & Case Marc Israel has joined international law firm White & Case as a partner in the group’s global antitrust practice. Marc, who is a leading competition lawyer with more than 20 years’ experience, will support White & Case’s strategic focus on growth in London, especially on merger control work. Marc joins from Macfarlanes, [...]
Alternative lending’s leading founders and chief executives give their predictions for the sector in 2017 January 12, 2017 The road was slightly bumpy for alternative lenders last year. Authorisations for the Innovative Finance Isa were delayed, there was further Financial Conduct Authority (FCA) probing, disappointing results hounded a good handful of the UK’s largest platforms and Goldman Sachs made its foray into the market with in-house platform Marcus. But provided the regulator continues [...]
Buy-to-lose? With new restrictions on buy-to-let mortgages and the introduction of other punitive measures in 2017, is there any value left in letting for mortgaged landlords? January 11, 2017 As we enter 2017, the tide has truly turned against Britain’s buy-to-let landlords. First, George Osborne discouraged people from buying a second residential property by imposing extra stamp duty of 3 per cent. Now, the Bank of England is demanding that mortgage lenders “stress test” loans to landlords. Since 1 January, the Bank’s Prudential Regulation [...]
Why unleashing competition would deliver lower fares and greater choice to rail passengers January 9, 2017 The UK’s rail passengers are suffering, and will no doubt continue to do so over the coming months. Union action is bringing the network to a standstill, with further strikes planned for this week. The level of sickness leave among train staff has also been mysteriously increasing, and has doubled compared to pre-strike levels, according [...]