Bankers dash for the cash in Standard Chartered’s 5k race July 10, 2014 Some 6,500 City workers ran through the streets of the Square Mile last night, not to All Bar One for first dibs on Thursday drinks, but as part of Standard Chartered’s annual 5k Great City Race. The rain held off as teams from firms such as Investec, KMPG, Lloyd’s of London, PwC and [...]
Gymbox raises £17m to finance expansion plans across the UK July 7, 2014 GYMBOX, the US-style fitness club chain that offers classes including Yoga Rave, has raised £17m to open more sites in the capital and expand into other UK cities. Business Growth Fund, an investment fund backed by the UK’s five largest banks – Barclays, HSBC, Lloyds, RBS and Standard Chartered – is providing the money in [...]
Amlin’s Formula-E race car partnership puts pedal to the metal June 30, 2014 Lloyd’s-based reinsurance company Amlin gave lunching City-ites something to gawk at yesterday with the unveiling of its new sponsorship target, a Formula-E race car and British race-driver Katherine Legge. What the bejeezus is Formula-E? It’s like your bog standard Formula One except the cars are electric rather than gas guzzling. They also race internationally, [...]
Lloyds private equity arm sells Metronet to Isis in £45m buyout June 30, 2014 The private equity arm of Lloyds Banking Group has sold its stake in Manchester-based tech group Metronet (UK) to Isis Equity Partners for £45m. Lloyds Development Capital, which ploughed £11m into Metronet in 2012, had made a four times return on its equity investment after selling the stake, it said. Metronet [...]
In pictures: The car causing a fuss at Lloyd’s of London today June 30, 2014 Anyone wondering what the besuited crowd around the bottom of the Lloyd's building were looking at this afternoon can wonder no more, it was a very fast car – a Formula E car to be precise. Why is it outside the Lloyd’s Building? Amlin, the Lloyd’s-based reinsurance company, is to sponsor and work closely [...]
City Moves for 30 June 2014 | Who’s switching jobs June 29, 2014 Unigestion The boutique institutional asset manager has appointed Jérôme Teiletche as managing director, head of cross asset solutions. He will also join its executive committee. Teiletche previously worked for Lombard Odier Investment Managers, where he was head of the solutions group. RSA The insurer has appointed Steve Lewis as chief executive for the UK and [...]
London Report: Two-month low for FTSE as Iraq jitters hit home June 25, 2014 UK shares yesterday hit their lowest level in two months, as spiralling violence in Iraq scared off investors. The FTSE 100 index closed down 0.8 per cent at 6,733.62 points – its lowest close since 28 April, while Europe’s FTSEurofirst 300 shed one per cent. Security forces are fighting rebels for control of Iraq’s biggest [...]
World’s most influential women at the Rosewood Hotel June 24, 2014 Some of the world’s most influential women descended on Holborn yesterday for the Fortune Most Powerful Women Conference in the Rosewood Hotel. Theresa May’s partially unexplained absence (due to a mystery scheduling conflict) did little to diminish the high level of inspiring chat. Facebook’s Europe Middle East and Asia vice-president Nicola Mendelsohn touched on the [...]
Amazon joining with Doddle to start railway station collections June 23, 2014 AMAZON customers will soon be able to pick up parcels from railway stations as part of a new deal between the online retail giant and Doddle, the click-and-collect joint venture between Network Rail and Travelex millionaire Lloyd Dorfman. Doddle is currently running a pilot operation at Milton Keynes station, with plans to expand the service [...]
In graphs: Stamp duty rises by over £900m in 12 months June 20, 2014 A Londoner making his or her way up the housing ladder can expect to have paid £38,000 in stamp duty between 1998 and 2014, according to new research by Lloyds Banking Group. The data also shows, as this paper reported, that stamp duty was up over £900m in the last 12 months. These are big [...]