Stuart Rose backs challenger money manager Netwealth in £11m funding round March 29, 2021 Netwealth, the money manager backed by a string of leading City figures, has secured its fourth round of fundraising with total investment reaching £38m. The self-proclaimed challenger wealth manager has completed a £11.3m round which included a cash injection from former M&S boss Stuart Rose. ICAP founder Michael Spencer who previously invested £5m in 2019 [...]
Lloyd’s of London may ditch strict dress code after 335 years March 26, 2021 Lloyd’s of London could ditch its strict dress code policy for the first time in its 335-year history, with some brokers calling for the “stuffy” attire to be scrapped. Lloyd’s staff who work in one of the City of London’s most iconic buildings are expected to abide by a strict dress code. Men are expected [...]
Walthamstow man tried to use Nadine Dorries’ credit card to buy Canada Goose coat March 24, 2021 A trainee engineer has expressed remorse for the distress he caused to Tory MP Nadine Dorries after attempting to use her credit card details to buy a designer coat worth almost £1,000. A fraudulent copy was made of health minister Nadine Dorries’ card and an attempted transaction carried out in October 2019, Westminster Magistrates’ Court [...]
FTSE 100 slips as fears of third Covid wave spark recovery concerns March 24, 2021 London’s FTSE 100 dipped by 0.2 per cent on Wednesday as a jump in Covid cases across Europe sparked concerns about its near-term economic impact. The blue-chip index was edged down by bank stocks including HSBC, Barclays and Lloyds falling between one per cent and 1.5 per cent. British consumer price inflation fell to 0.4 [...]
Wall Street opens in the red ahead of Fed chair testimony March 23, 2021 Wall Street ticked into the red this morning as energy and travel stocks slipped, while investors awaited remarks from Federal Reserve chair Jerome Powell on the health of the US economy. Powell will join US Treasury secretary Janet Yellen to provide testimony to US politicians in Congress later today. He is expected to say that the [...]
Hyper-local offices and central HQs could chart the path forward to save cities March 23, 2021 Enforced home working and lockdown travel restrictions have, for many, led to a journey of local discovery. To name but a few, the surprise and delight of hidden parks and gardens discovered during our daily exercise ration and great independent food shops providing welcomed morning coffee hits and morale-boosting treats. However, despite the lack of [...]
City workers prepare to head back to offices in just eight days time March 21, 2021 Workers are getting ready to head back to the City of London in just over a weeks’ time as the government’s “stay at home” order is relaxed. Investment banks are leading the return to work, with staff set to return to the Square Mile for the first time in months. Goldman Sachs, JP Morgan and [...]
British Airways considers selling its Heathrow HQ in homeworking shift March 19, 2021 British Airways said it was considering selling its headquarters as a switch to homeworking during the pandemic means it may no longer need so much office space. The potential sale of the building, first reported by the Financial Times, could boost the airline’s finances which have been hammered throughout the last year. The BA complex, [...]
City Moves: Who is switching jobs in the Square Mile this week? March 10, 2021 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. New strategy director joins Wates Construction Wates Construction Group has appointed a new strategy and integration director for its recently formed group of businesses Wates Integrated Construction Services (WICS). Joining the London office, [...]
FTSE 100 and Wall Street push higher on economic recovery hopes March 9, 2021 Wall Street pushed higher and the FTSE 100 reversed early loses to post modest gains today as investors were buoyed by optimism about global economic recovery and more US stimulus. All three major US indices pushed higher, with the tech-heavy Nasdaq rebounding after a steep decline in yesterday’s trading. As the end of trading neared, [...]