IPO latest: Lloyds spin-off Equiniti expects a market capitalisation of up to £600m after IPO October 14, 2015 Equiniti, the payments technology provider, has added to the current flurry of IPO activity, announcing the price range for its shares will be between 165p and 200p. The price would give Equiniti an initial market capitalisation of between £495m and £600m: the company estimates the flotation to net around £135m, which it plans to use to pay off some [...]
City Moves for 14 October 2015 | Who’s switching jobs October 13, 2015 EDMOND DE ROTHSCHILD ASSET MANAGEMENT Agnès Belaisch has been appointed head of the sovereign debt team at the asset management firm. Based in the UK, she was previously in charge of economic and market analysis at the European Stability Mechanism, and has held roles at the IMF. ANV HOLDINGS The insurance group has appointed Janet [...]
From London property and Tesco to Sports Direct and haunted houses: Here’s what got us talking this week October 9, 2015 It was a week in which plastic bags suddenly became the big new commodity, Google became free to be evil and somewhere lurking in your neighbourhood, proof of "ghost-free" houses became a thing. Here's what got us talking 1) We nailed the property conundrum We don't like to brag but we may have finally found the [...]
Economists urge Bank of England to postpone interest rate rise October 8, 2015 City A.M.’s panel of economists urged the UK’s rate-setters to keep interest rates at their record low of 0.5 per cent this month, as the global economy slows and inflation remains well below its two per cent target. Professor Steve Keen, head of the school of economics, history and politics at London’s Kingston University, [...]
Round 2: Trial of six brokers accused of Libor rate-rigging begins in London today October 6, 2015 Six brokers accused of Libor rigging will see their trial begin in London today and could face decades in jail as the second instalment of the Serious Fraud Office’s (SFO) war on financial misconduct gets underway. The six brokers – who have worked at ICAP, RP Martin and Tullett Prebon – are charged with [...]
Lord Mayor tours London firms on City Giving Day October 1, 2015 Shoes were shined, ties were straightened, balloons were inflated and cakes were freshly baked for the arrival of Lord Mayor Alan Yarrow at dozens of the Square Mile’s banks and financial institutions to mark City Giving Day, where he saw first-hand what they do to give back to society. Joined by company leaders from [...]
Bank of England governor Mark Carney warns of financial risk posed by climate change September 29, 2015 Bank of England (BoE) governor Mark Carney has warned the City of climate change's threat to economic stability. Read more: Tackling climate change is possible without hindering economic growth Carney used a speech at a Lloyd's of London dinner to give a stark warning of the huge risks to financial security posed by global warming. [...]
FTSE ends lower as commodities plunge again – London Report September 25, 2015 BRITAIN’S blue-chip share index fell yesterday, with basic resources and energy companies coming under fresh selling pressure due to lingering concerns about demand for metals and a poor outlook for commodity prices. The FTSE 100 index ended 1.2 per cent lower at 5,962.26 points. The index has fallen more than eight per cent so far [...]
Former Lloyds trader sues for unfair dismissal after Libor probe September 23, 2015 A former Lloyds trader, who was among eight people dismissed after the bank's fine for alleged involvement in libor rigging, has sued the bank for unfair dismissal. John Argent's hearing will start on October 5, according to a schedule for a London employment tribunal released today. Lloyds paid £218m in fines to regulators on both [...]
Skills shortages are a perfect storm for London construction September 22, 2015 No matter where you are commuting from this morning and where your final destination is, it will be impossible not to notice the construction boom taking place in the capital. All around us, new housing is taking shape to accommodate the largest population that London has ever known. Whether colossal structures piercing the low-lying [...]