Thousands of Sainsbury’s jobs at risk as UK supermarket shakes-up management January 23, 2018 Thousands of Sainsbury’s jobs are at risk as the supermarket seeks to shake-up its management structure. The announcement comes shortly after Tesco put more than 1,500 staff into a consultation period as it prepared to cut around 800 jobs. Read more: Tesco announces it is cutting 800 jobs Structural changes in the retail industry, combined [...]
Crossrail hands over Soho Place site to Derwent London for retail revamp and new West End theatre over Tottenham Court Road station January 17, 2018 Crossrail has handed over a West End site to developer Derwent London for work to get underway to develop a major £260m project over Tottenham Court Road station encompassing offices, retail and a new theatre. Crossrail land and property director, Ian Lindsay, said: This is the first Crossrail site to be handed over for full [...]
Bank of England says Brexit trade deal including the City is possible but warns of tensions with EU over investment banks January 16, 2018 A post-Brexit free-trade deal with the EU which includes financial services could be completed in three years, according to the Bank of England’s chief banking regulator, countering the view of the EU’s chief Brexit negotiator, Michel Barnier. Sam Woods, the Bank’s deputy governor in charge of the Prudential Regulation Authority, said it is “plausible” that [...]
This fintech firm, robo-adviser Netwealth, is aiming to steal the dinner off wealth managers’ plates by targeting the super-rich January 15, 2018 For well-off individuals looking to outsource the day-to-day investment of their pounds, wealth managers have long looked like the best option. Yet for an industry driven by huge amounts of money and used by professionals ranging from entrepreneurs to technology titans, there has been surprisingly little innovation. For high-net-worth investors, using a wealth manager is [...]
The City of London is bracing itself for a raft of UK retail collapses in 2018 January 12, 2018 Retailers painted a gloomy picture of the high street this week as several big names failed to cash in on the Christmas shopping season. Gloomy financial updates from household favourites such as Marks and Spencer (M&S), Debenhams, and House of Fraser prompted analysts to signal several retail collapses may be on the cards in 2018. [...]
Are markets too complacent about the US economy? January 3, 2018 The status of the US as the world’s most dynamic and important single country economy remains intact, not least among investors. Its strengths are now very much reflected in financial market valuations. This is evident in stocks, with the US having been at the vanguard of a multi-year bull run, while bond yields have reached [...]
Gaucho Group appoints Oliver Meakin of Maplin Electronics as CEO to replace founder Zeev Godik January 3, 2018 Restaurant group Gaucho appointed a new chief executive to replace founder Zeev Godik, who left last year amid rumours he was forced out. Oliver Meakin, currently boss of Maplin Electronics will take the reins of the Argentine steak restaurant chain at the end of the month. He is a former colleague of Gaucho’s new chairman [...]
Day of the Mifids: Controversial EU Mifid II regulations for the asset management industry finally kick in January 3, 2018 A long-awaited regulatory shake-up, touted as the biggest to hit financial markets since the 1986 “big bang”, has finally rippled through the City and across Europe today. The second Markets in Financial Instruments Directive (known as Mifid II) has already cost top global banks and asset managers $2.1bn (£1.5bn), a study from the Boston Consulting [...]
City leaders recognised for services to business in New Year honours December 30, 2017 The Square Mile has weathered a turbulent year, and as 2017 comes to a close, business leaders have been recognised for their work to promote UK industry through a period of immense change. Business leader Ken Olisa, former Lord Mayor of London Andrew Parmley, and City grandee Anthony Habgood, have been given knighthoods. Vivian Hunt, [...]
The unprofitable reality of tobacco stocks December 28, 2017 Chestnuts may be roasting on an open fire – at least on the speakers of every shop we have visited since October – but here our focus is smoke. More precisely we will be considering its continuing disappearance as more and more people quit cigarettes – and what this could mean for tobacco companies and [...]