BNY Mellon warns staff could face ‘corrective action’ if they don’t return to office April 23, 2023 BNY Mellon has warned employees they may face “correction action” if they do not return to the office, a move that has been met with a mixed reception from the bank’s staff, according to the Sunday Times. In a message entitled ‘Working Together’ sent to employees on 30 March, senior executive vice president Roman Regelman [...]
CBI suspends policy and membership activities after exodus April 22, 2023 The CBI has said it will “suspend all policy and membership activity” until it can hold a meeting of its membership in June.
Bank of America at odds with Lloyd’s over state-backed cyberattack exemption April 20, 2023 Bank of America has reportedly raised concerns with Lloyd’s of London about a move to exempt “state-backed” cyberattacks from standard insurance policies. Bank of America highlighted its concerns with the policy in a series of meetings between Lloyd’s and its biggest clients, the Financial Times reported. Marsh, the world’s biggest broker, is also understood to [...]
FTSE 100 close: London index muted as Barclays and Lloyds Bank give up early gains April 20, 2023 London’s FTSE 100 was muted today as investors ditched mining giants, curbing the sector’s recent rally, while high street banks gave up strong early gains. The capital’s premier index edged 0.01 per cent high to 7,899.48 points, while the domestically-focused mid-cap FTSE 250 index, which is more responsive to sentiment toward the UK economy, nipped [...]
Women in Payments Europe 2023 Unites Industry Trailblazers in London April 20, 2023 City A.M. is excited to announce that it will be a media partner for Women in Payments Symposium 2023. This year our symposium is taking place in London – Europe’s major fintech hub and a great place to host a major payments event for good reasons. As a leading global financial centre, the UK capital [...]
The Square Mile and Me: Steve McGill on Boots, negativity and the Four Seasons April 20, 2023 We dig into the memory bank of the City’s great and good: this week, Steve McGill details his life running the fastest-growing speciality broking firm in the world, McGill and Partners. Quick-fire round What’s your favourite…?
FTSE 100 close: Inflation shock drags London index lower as real estate firms lead losses April 19, 2023 London’s FTSE 100 slipped today as investors took fright at UK inflation topping forecasts to stay in the double digits last month. The capital’s premier index shed 0.13 per cent to drop to 7,898.78 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, fell 0.49 [...]
FTSE 100 close: China economy growth spurt jolts London miners higher April 18, 2023 London’s FTSE 100 bumped upwards again today, boosted by stronger than expected Chinese economic growth boosting sentiment toward the capital’s biggest listed industrial giants. The capital’s premier index climbed 0.38 per cent to 7,909.43 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the health of the UK economy, was broadly [...]
AA: Shareholders weigh up major sale of stake in roadside breakdown giant April 17, 2023 The AA’s shareholders are considering the sale of a significant stake in the £2.5bn breakdown specialists, as first reported by Sky News’ Mark Kleinmann. Towerbrook Capital Partners and Warburg Pincus have hired Goldman Sachs to advise on the deal, which could result in three shareholders taking an equal slice of the company. Analysts told Sky [...]
FTSE 100 close: London index squeezes out gain as UK economy unexpectedly flatlines in February April 13, 2023 London’s FTSE 100 nudged higher today after fresh figures showed the UK economy unexpectedly stalled in February, while Tesco clocked decent gains despite posting a big profit slump. The capital’s premier index edged 0.24 per cent higher to close at 7,843.39 points, while the domestically-focused mid-cap FTSE 250 index, which is more aligned with the [...]