UK reviews core banking rules as it seeks to bolster the City post-Brexit April 20, 2021 An independent review has been launched into capital and proprietary trading rules that were introduced following the global financial crisis more than a decade ago, as the government seeks to bolster the City of London’s global competitiveness after Brexit. The UK requires banks to “ring-fence” the retail arms of their operations to shield them from [...]
SocGen: UK fintech is at a post-Brexit crossroads and must forge global links to retain its position April 20, 2021 The UK’s position as global fintech leader is facing a pivotal moment as it confronts the dual challenges of fending off competition in a post-Brexit world and capitalising on Covid accelerated digital adoption opportunities across the globe. The UK has had a proud history of leading the way in financial innovation, from its global reputation [...]
Music Magpie secures new funding ahead of £208m stock market float April 20, 2021 Tech resale site Music Magpie today said it has secured £20m in fresh funding, just days after confirming plans for an initial public offering in London. The online retailer, which allows consumers to exchange old devices such as phones and game consoles to cash, has inked the deal with Silicon Valley Bank’s (SVB) UK branch. [...]
Shaun Bailey London mayor election manifesto: Everything you need to know April 19, 2021 Conservative mayor of London candidate Shaun Bailey today launched his election manifesto, with polling day on 6 May now just weeks away. The 56-page document outlined policies on areas such as the economy, the environment, transport, crime, housing and transport. City A.M. went through the manifesto with a fine tooth comb to bring you a snapshot of the [...]
Shoppers flock back to the West End in grand reopening of London April 19, 2021 Following the easing of the lockdown the number of shoppers and visitors heading to the West End was more than expected, as shops in central London opened for the first time in months. In the first week following the easing of lockdown restrictions footfall in the West End stood at around 54 per cent of [...]
Kantar ‘closes in’ on $1.5bn deal for US data rival Numerator April 19, 2021 Kantar is said to be nearing a $1.5bn (£1bn) deal to buy US rival Numerator from buyout fund Vista Equity Partners. The deal, which is expected to be announced imminently, will see Kantar take full control over the Chicago-based market intelligence provider, Reuters reported. Numerator, which was taken over by Vista in 2017, provides market [...]
FTSE 100 pushes above 7,000 for first time since Covid crash as Wall Street hits new records April 16, 2021 London’s FTSE 100 rose above the 7,000-mark today for the first time since Covid pummelled financial markets last year. Across the Atlantic, Wall Street again hit new record highs on the back of a bumper set of earnigns from America’s banking giants. Speedy vaccine rollouts and government policy support has lifted investor confidence about a [...]
Covid infection levels fell sharply across UK last week April 16, 2021 The number of people infected with Covid-19 across the UK fell sharply last week, the latest figures from the Office of National Statistics (ONS) show. After a slight rise last week, the number of people with the disease in England for the week ending 10 April was about one in 480. That’s a considerable drop [...]
London businesses demand return of the Night Tube amid delay until 2022 April 15, 2021 London businesses have demanded the resumption of the Night Tube after Transport for London (TfL) said earlier this week the service will not return until at least 2022. Andy Byford, the transport commissioner for London, said the capital’s struggling transport body lacked the resources to reinstate all-night Friday and Saturday services on the Victoria, Jubilee, Central, Northern, [...]
Looking for a fresh outlook for your business? April 15, 2021 With many businesses re-evaluating their ways of working and their property requirementspost Covid, there is a real ripple effect being felt in small suburban towns. Start up rates are rocketing, home workers are accessing local services, spending priorities and consumer behaviour has changed; the impacts are only just beginning to emerge and businesses will almost [...]