Secondary fundraising by retailers nears £2bn as firms eye M&A opportunities May 10, 2021 Listed retail companies have raised nearly £2bn in the past year as they sought to strengthen their balance sheets amid the pandemic. Now, they are starting to eye M&A opportunities. In recent years, listed firms in the UK have relied less on the public markets with private equity firms often considered a more attractive option. [...]
Business rates appeals soar as property experts slam government’s ban on Covid-19 review requests April 30, 2021 Business rates appeals have soared since the beginning of the pandemic, with experts branding the government’s decision to block reconsiderations based on Covid-19 as a “material change of circumstance” as a “disgrace”. The latest figures showed that, between 1 April last year and the end of March 2021, 409,430 checks had been lodged by firms, [...]
London used as ‘money-laundering base’, mafia trial prosecutor says April 28, 2021 In Italy’s largest mafia trial in three decades, the UK’s capital has been roped in as a potential hotspot for organised crime, particularly post-Brexit. The trial will see around 900 witnesses testify against more than 350 ’Ndrangheta defendants, including politicians and officials charged with being members of Italy’s most powerful criminal group. Defendants are set [...]
Review of banker bonus cap not top of the agenda, says BoE official April 26, 2021 A review of the cap on bankers bonuses is not top of the Bank of England’s priority list, according to an official. Now the UK is out of the EU it is free to set its own regulatory agenda on financial services. It has previously been reported the Treasury is considering scrapping the cap entirely [...]
SocGen: UK fintech is at a post-Brexit crossroads and must forge global links to retain its position April 20, 2021 The UK’s position as global fintech leader is facing a pivotal moment as it confronts the dual challenges of fending off competition in a post-Brexit world and capitalising on Covid accelerated digital adoption opportunities across the globe. The UK has had a proud history of leading the way in financial innovation, from its global reputation [...]
German constitutional court cuts Berlin rent cap April 15, 2021 Berlin’s rent cap has been struck down by Germany’s Constitutional Court today, as it ruled the pandemic-imposed law as invalid. The ruling comes as a huge blow for supporters of rent limits across Europe, as it pushed landlords to cut rents in the capital for over 300,000 tenants during the pandemic. The controversial cap, imposed [...]
Ryanair loses legal challenges to EU state aid for Scandi airlines April 14, 2021 Ryanair has this morning lost its attempt to have state aid provided by the EU to Scandinavian airlines SAS and Finnair ruled unlawful. The Luxembourg-based General Court, the EU’s second highest legal body, ruled that the bailouts were in compliance with the bloc’s rules on state aid. The ruling is another blow to the airline, [...]
MPs back Prince Philip statue on The Mall in London April 11, 2021 Prince Philip is set to be commemorated with a statue along The Mall in London, after the idea gained cross-party backing by MPs. The Mall already has statues of Queen Elizabeth The Queen Mother alongside a statue of her husband King George VI. The Sunday Telegraph reports that Prime Minister Boris Johnson and Labour leader [...]
COP26: Is the City ready for its leading role in the fight against climate change? April 10, 2021 Windows were smashed at Barclays headquarters this week by climate activists who urged the bank to cut its climate destructive investments. Last week campaigners painted the Bank of England (BoE) black in a bid to raise the alarm on the institution’s funding of Big Oil. Where money goes within the City is under more scrutiny [...]
Screenshot: Will London ever be ready for tech IPOs? April 2, 2021 This week **Media Moment of the Week: Volkswagen’s awkward U-turn **Will London ever be ready for tech IPOs? **Amazon goes bonkers for bots Media Moment of the Week: Volkswagen’s awkward U-turn There are few things as grating as the forced joviality of April Fool’s Day and it should, in this writer’s opinion, be cancelled. That [...]