The battle for London’s business: Behind the scenes, European cities are on a charm offensive to attract City jobs October 24, 2018 Behind the scenes, European cities are on a charm offensive to attract City jobs, finds Jasper Jolly WITH Brexit negotiations reaching fever pitch, all eyes are fixed on the politicians wrangling over the UK’s new place in the world. But behind the scenes another battle is going on, with well-funded campaigns vying to attract business [...]
Brexit: 23 answers to investors’ questions October 16, 2018 The UK’s scheduled departure from the EU is fast approaching. Many observers are hopeful for an orderly withdrawal. But plenty of potential pitfalls between now and Brexit-day which could result in a chaotic divorce. The only near-certainty at present is that the UK will cease to be a full member of the EU on 29 [...]
Insurer Beazley becomes second tenant in City skyscraper Twentytwo October 10, 2018 The City's tallest skyscraper has landed its second major tenant – specialist insurer Beazley – in a sign of the bumper year for insurance take-up in the Square Mile. City A.M. can reveal the FTSE 250 insurer is set to take 50,000 square feet (sq ft) over two floors at 22 Bishopsgate when construction is finished [...]
Robert Tchenguiz accuses Grant Thornton of conspiracy over fraud office probe October 8, 2018 Lawyers for property mogul Robert Tchenguiz today accused audit firm Grant Thornton of conspiring to persuade the Serious Fraud Office (SFO) to launch an investigation into his business dealings with the Icelandic bank Kaupthing. The flamboyant millionaire was in a packed London courtroom to hear his Queen’s Counsel Stephen Rubin of Fountain Court accuse the [...]
Head of EBRD faces calls for investigation over director dossier October 7, 2018 The representatives of several member states have called for the president of the European Bank for Reconstruction and Development to face investigation, over claims the international lender broke rules by gathering information on some of its own directors. Several members of the EBRD’s board complained about president Suma Chakrabarti’s conduct to its chief compliance officer [...]
Lloyd’s of London boss hints at ‘acceleration’ of Brussels operation as no-deal Brexit fears mount October 7, 2018 Outgoing Lloyd’s of London boss Dame Inga Beale has said the insurance business is speeding up plans to bolster its Brussels subsidiary unit amid fears that Britain and the EU might not reach a post-Brexit trade deal. Beale told the BBC that she was “accelerating” preparations to transfer contracts from the London insurance market to Brussels on the [...]
Pinter at the Pinter: Stagings of the great playwright’s short plays and poems offers a rare chance to see these unmissable works October 5, 2018 Harold Pinter was prolific, with more than 30 stage plays, almost as many screenplays and dozens of works of prose and poetry to his name. But while revered masterpieces such as The Birthday Party, No Man’s Land and Betrayal are regularly staged, there are fewer opportunities to see his equally brilliant shorter works. Director Jamie [...]
RSA Insurance shares drop as firm warns torrid weather will hit profits September 28, 2018 Shares in British insurer RSA Insurance plummeted 7.7 per cent today after the firm said torrid weather in the UK had led to claims shooting up at the start of the year. Bringing forward a third quarter trading update, RSA said full-year underlying pre tax profits were likely to be lower than 2017 due to "elevated weather costs". [...]
World Bank sells record-breaking £1.25bn bond using ‘Libor-killer’ benchmark September 27, 2018 The World Bank has sold a £1.25bn bond using Sonia, the Bank of England-backed interest rate benchmark designed to replace the scandal-battered Libor. The record-size sale, which arrived shortly after the alternative benchmark’s first use by a lender, marks its continued emergence as an alternative to Libor, the London Inter-bank Offered Rate, its tarnished forerunner. [...]
Frankfurt winning race with Paris for Brexit bank moves September 24, 2018 Frankfurt is winning the race to attract the banking jobs moving out of London because of Brexit, with 25 lenders having moved operations there ahead of the UK's departure from the EU, new research published today shows. Paris, which has been aggressively courting the City's financial institutions, has attracted nine moves, while Luxembourg and [...]