It’s official: The UK government is no longer the largest shareholder in Lloyds Bank January 9, 2017 The government is no longer the largest investor in Lloyds Bank, after it reduced its stake to below six per cent for the first time since it was bailed out in the financial crisis. The stake now comprises 5.95 per cent of the FTSE 100 bank. The sale means that over £18bn of taxpayer money [...]
City Moves for 5 January 2017 | Who’s switching jobs January 5, 2017 Colliers International Global real estate advisor, Colliers International, has recruitedKaty Rogers to its EMEA corporate solutions team. Katy, the newly appointed senior portfolio manager, will be responsible for managing client relationships, maintaining real estate strategies and coordinate day-to-day management of real estate transactions. Katy joins Colliers with five years of account and property management experience [...]
BGC Partners buys Lloyd’s broker Besso in deal worth £71m January 4, 2017 Lloyd's of London broker Besso has been swallowed up by US broking giant BGC Partners in a deal that values the firm at £71m. The purchase provides an exit for the Besso's owners – its senior management team and private equity house BP Marsh. Read more: Lloyd's insurer Endurance bought by Japanese owner of Canopius The fund's share [...]
The FTSE 100 has reached another record high January 3, 2017 The FTSE 100 smashed a new record as investors returned to their desks after the New Year break. London’s blue chip index briefly broke through the 7,200 points mark before paring to just below 7,180 points at the close – yet another record-breaking measure. It recorded a rise of over 60 points on Tuesday to peak at [...]
British exporters look to Middle East and Asia-Pacific to avoid Brexit uncertainty January 3, 2017 British exporters are turning their gaze to the Middle East and Asia as they look to avoid economic uncertainty and the uncertain trading relationship with Europe, a new survey says. The Asia-Pacific region in particular is set to be targeted, with an 18 per cent balance of UK businesses expecting exports to increase over the [...]
With diverging monetary policy and more political uncertainty, should investors expect 2017 to be the year that growth makes a comeback? January 3, 2017 This year is being heralded as a new dawn for markets. The economic malaise which has dogged developed economies since the financial crisis will finally subside; the battle against deflation has been won; fiscal stimulus is firmly on the agenda, and real growth will return. Such optimistic assessments may prove to be on the money. [...]
New Year’s honours 2017: The full rundown of the business community’s representatives on this year’s list December 31, 2016 The British business community was well represented on the New Years honours list, with entrepreneurs and executives featuring prominently amongst the more than 100 figures recognised for services to the industry and economy. Here's a run down of some the most notable business names who received the official seal of approval this year. Read more: Arise, Dame Inga – Lloyd's of [...]
Arise, Dame Inga: Lloyd’s of London boss Inga Beale has been awarded a damehood in the Queen’s New Year’s Honours list December 30, 2016 Lloyd's of London boss Inga Beale has been awarded a damehood as part of the Queen's New Year's Honours list. Beale, who was appointed chief executive of Lloyd's of London in January 2014 and is a vocal LGBT rights campaigner, was awarded her damehood for services to the economy. She was included in City A.M.'s Power [...]
Brexit confusion gives foreign firms “God-given opportunity” to steal UK business says Trump commerce secretary December 26, 2016 Brexit offers a “God-given opportunity” for foreign businesses to take market share from the UK, according to comments attributed to US President-elect Donald Trump’s new trade chief. Veteran distressed debt billionaire Wilbur Ross made the comments to finance executives in Cyprus in the period after the referendum – before his appointment by Trump as US [...]
The City could soon get a £5m “ring of steel” to protect it from vehicle-based terror December 24, 2016 A £5m "ring of steel" surrounding London's Square Mile could be installed to protect the City from terrorist attacks. Measures including manned checkpoints, rising steel bollards and crash-proof barricades has been proposed by the City of London Corporation on the advice of Mi5 and counter-terrorism police. The proposed security ring will surround Liverpool Street, the [...]