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 [...]
FTSE 100 dragged down by Brexit delay ahead of general election vote October 29, 2019 The FTSE 100 edged down this morning as Brexit uncertainty lingered over the City. European markets opened flat today, but UK traders took a more cautious approach ahead of another crucial day of voting in Parliament. London’s blue-chip index fell by 0.5 per cent to roughly 7,297 points, while the Dax was down by 0.2 [...]
Shop Direct could fail unless £150m is found, auditor warns October 28, 2019 Shop Direct, the UK retail group owned by the Barclay brothers, could collapse unless it finds £150m to cover the costs of payment protection insurance (PPI) compensation, its auditor has warned. Read more: Media veteran David Montgomery weighing up Telegraph bid The Littlewoods.com and Very.co.uk owner last week revealed it had seen higher-than-expected demand for [...]
Wealthy UK cities showing resilience to retail downturn October 28, 2019 A group of wealthy cities such as London and Cambridge are faring relatively well during the UK retail sector’s downturn while shops in poorer and more rural areas suffer, a new report has said. Read more: Retailers brace for tough Christmas as confidence slumps Shopping parks have also shown resilience as the bricks-and-mortar retail sector [...]
‘Part of the criticism we face is justified’, says FCA head October 24, 2019 The head of the Financial Conduct Authority (FCA) will say that some criticism of the watchdog is justified in a speech given in the City this evening, and that consumers need to be better warned about the risks related to investment. Speaking at the Lord Mayor’s City Banquet at Mansion House, Andrew Bailey is expected [...]