City Moves for 5 November – Who’s switching jobs at AKA Group, Shop Direct and KPMG? November 5, 2019 Today’s City Moves includes AKA Group, Shop Direct and KPMG AKA Group Specialist lifestyle and leisure advertising agency AKA Group has announced the appointment of Nick Hurrell as chairman. Nick currently serves as chairman at London ad agency George and Dragon and was previously chairman of the Europe arm of M&C Saatchi, as well as being [...]
What Thomas Cook’s collapse tells us about the power of disruption November 4, 2019 Whilst the failure of UK holiday firm Thomas Cook was sudden and a considerable shock to many, the writing has been on the wall for some time now. Driven by technology and specifically by the advent of online booking and reservation systems, the travel industry has long been undergoing a radical transformation across each of [...]
Insurer Hiscox sets aside $165m for catastrophe claims November 4, 2019 A trio of natural disasters has caused Hiscox to set aside $165m (£127m) for claims, exceeding the insurer’s catastrophe budget for the second half of the year. The FTSE 100 specialist insurer said this morning that it has reserved a net $165m based on insured market losses for hurricane Dorian and typhoons Hagibis and Faxai. [...]
Lookers shares slump as it warns profit will halve November 1, 2019 Troubled car company Lookers gave the City a double-whammy of surprises this morning after revealing two senior departures and worse-than-expected profit forecasts. Profits are expected to more than halve this year to roughly £20m, falling significantly below City estimates. Read more: Treasury committee urges reform of ‘broken’ business rates system The London-listed motor retail group, [...]
City Moves for 1 November – Who’s switching jobs at Cripps Pemberton Greenish, Winckworth Sherwood and Mayer Brown? November 1, 2019 Today’s City Moves includes Cripps Pemberton Greenish, Winckworth Sherwood and Mayer Brown Crsipps Pemberton Greenish Leading law firm Cripps Pemberton Greenish has announced the appointment of Melanie Stancliffe as partner at its London office. Melanie, who is ranked as an expert in legal directories Legal 500 and Chambers and Partners, joined the team on 30 [...]
All Saints back in black after non-retail boost October 31, 2019 Fashion retailer All Saints returned to profit in its latest full-year results after increasing focus on its wholesale and licensing businesses. Operating profit in the 12 months to 2 February was £3.6m, up from a loss of £6.2m the previous year. Read more: All Saints profits hit by retail storm The east London-based company reported [...]
General election 2019: Jeremy Corbyn pledges to go after ‘greedy bankers’ as Labour launches campaign October 31, 2019 Jeremy Corbyn has pledged to go after “the greedy bankers” and “bad bosses” as he kicks off his election campaign in South London this morning. The Labour leader spoke before a packed hall of supporters at the Battersea Arts Centre, near Clapham. Read more: Labour’s renationalisation plans would cost £200bnRead more: EXCLUSIVE: Tories tap up [...]
Hong Kong falls into recession amid ongoing unrest October 31, 2019 Hong Kong has officially entered a recession for the first time in a decade after the its economy contracted for a second successive quarter, as the territory prepares for Halloween protests. The financial hub’s economy shrank by 3.2 per cent in the three months to the end of September, much more than the 0.6 per [...]
Single cyber attack on Asian-Pacific ports could cost $110bn October 30, 2019 A single cyber attack on Asia-Pacific ports could cost as much as $110bn (£85bn), Lloyd’s of London has claimed. The historic insurance market has published a report warning that the global economy is unprepared for a scenario in which an extreme computer virus could infect 15 ports across Japan, Malaysia, Singapore, South Korea and China. [...]
Dear politicians: What the City wants to see in your election manifesto October 29, 2019 With the news of a potential December election hanging in the balance today, the City is bracing itself for another potential new government in Downing Street. Yet while much of the debate in the coming weeks is likely to be centred on Britain’s imminent departure of the EU, the financial sector is hoping to see [...]