From pensions taxes to the EU referendum to the Elizabeth Line: Here’s what got you reading this week February 27, 2016 1. A pensions tax bombshell Former pensions minister Steve Webb wrote on Sunday that George Osborne is preparing to drop a "tax bombshell" on pensions savers by scrapping the tax-free lump sum. Find out what the chancellor may have planned here. 2. The EU referendum There was no escaping from it: wherever you looked, another politician [...]
City Moves for 26 February 2016 | Who’s switching jobs February 26, 2016 Edmonds Marshall McMahon Private prosecution law firm Edmonds Marshall McMahon has announced the firm’s expansion into civil fraud with the appointment of leading City litigator Robert Hunter. He joins as a partner from Herbert Smith Freehills where he was head of the fraud and asset tracing group. Robert has over 25 years’ experience in the [...]
Lloyd’s underwriters slam Admiral Insurance’s new advert for grossly misleading costume design February 25, 2016 Old sea dogs at Lloyd's of London were spluttering into their pink gins last night over Admiral Insurance's latest advert, which features a woman dressed as what appears to be an 18th century admiral. Admiral has taken a fresh stance on its long-standing naval mascot, opting for a female to helm the ship in its new ad campaign [...]
EU referendum: Asda, HSBC, Vodafone and nearly 200 sign letter saying Brexit would threaten jobs – but Tesco, Morrisons and Sainsbury’s are not on the list February 23, 2016 The bosses of HSBC, BT, Vodafone and Asda are among those to have put their name to an open letter backing the remain camp and Prime Minister David Cameron's reforms in Europe. More than a third of the UK's biggest companies were represented in the letter, which was published in The Times this morning, saying they represented [...]
At the close: FTSE 100 index closes higher as the oil price rises with banks’ and miners’ share prices including Anglo American and Glencore rising despite housebuilders and HSBC’s share price falling February 22, 2016 The FTSE 100 index closed higher today after the price of oil rose and there was a bounce-back in mining companies and banking shares. The UK's blue-chip index rose 1.47 per cent to 6,037 points, led higher by Glencore and Anglo American. "Rallying commodity prices from crude oil to copper have boosted the beaten up [...]
Get out your glad-rags: City heavyweights have been shortlisted for the British LGBT Awards 2016 February 18, 2016 It's been called the "Gay Oscars" by loyal fans; the shortlist for this year's British LGBT Awards is now public, and London's financial firms are forerunners for a few gongs. Shattering perceptions of stuffy conservatism, business leaders and global corporations including Barclays, Citi and Goldman Sachs have been shortlisted for accolades ahead of the big night at London's Grand [...]
Which? survey shows Arriva, Thameslink, Great Northern, First Great Western and Southern are among the UK’s most delayed train services February 18, 2016 If you're reading this while swaying on one of the capital's much-maligned commuter train services, take heed: new research has found commuters suffer the UK's worst train services – and Londoners are among the worst hit. The research, by Which?, found a third of commuters experienced delays on their last journey – with Arriva Trains Wales, [...]
Ladies who don’t lunch: Maike Currie talks to financial services entrepreneur Joanne Smith about dry January and why compliance is the “new rock ‘n roll” February 18, 2016 My lunch date with Joanne Smith, financial services veteran turned entrepreneur, is long overdue. I have been using stalling tactics and to be honest it’s due to her area of expertise: compliance. (Read: boring box-ticker.) But it’s a New Year and, cloaked in noble resolutions, I finally make the time to meet her at a [...]
Metro Bank bows to market pressure, cuts share price ahead of planned market float February 16, 2016 Metro Bank, the London challenger, has been forced to lower the amount it’s hoping to raise through a market float by 20 per cent due to wild swings in bank share prices around Europe. The bank will now look to raise £400m in coming weeks, down from £500m, and cutting its share price at £20 from [...]
FTSE 100 index rallies after Asian markets as the share prices of Reckitt Benckiser and IAG rise February 15, 2016 The FTSE 100 index shot higher today after a rally on most Asian stock markets, despite poor trade data coming out of China. The UK's blue-chip index rose 2.26 per cent to 5,836 points in early afternoon trading, led higher by Reckitt Benckiser and British Airways owner International Consolidated Airlines Group (IAG). "No severe sell-off in Chinese markets after a [...]