It’s time Chicken Licken Remainers admitted the sky hasn’t fallen in post-Brexit September 8, 2016 Before the referendum, the Remain camp did not hold back from listing the catastrophic consequences of Brexit. The banks and financial services sector would abandon London overnight, they said. Vital funding would be lost for farming, science and regeneration schemes. The British economy would immediately stall, then spiral into a crash. Eleven weeks on from [...]
Joules’ countryside style strikes a chord with shoppers as profits soar September 7, 2016 Profits soared at premium, country-style retailer Joules last year, topping off a "transformational" period for the clothing and accessories group which launched on the AIM in May. The figures Profit before tax shot up by 41.5 per cent to £7.5m in the 52 weeks to 29 May, up from £5.3m in 2015, while basic earnings per share ballooned by [...]
How Instagram and other social media sites are writing a new chapter in the history of street photography September 7, 2016 "Look: phone, phone, phone – they’re all just looking at their phones.” For a roving street photographer like Ronya Galka, capturing Londoners’ candid moments has got a lot harder since our social lives moved online. And that’s just the tip of the iceberg; like the publishing and music industries, photography has been put through a [...]
The Co-op is exploring blockchain technology September 7, 2016 The Co-Operative Group is exploring how blockchain technology can be used to prove the authenticity of its food in a pilot of a "fairtrade for the digital age" project. The supermarket is working with early stage blockchain startup Provenance to investigate how its technology can be used to track that its produce comes from sustainable sources [...]
All that glitters: Anglo American’s diamond business De Beers reports higher sales on pre-Christmas demand September 6, 2016 Anglo American said today sales at De Beers, its diamond unit, rose as manufacturers snapped up the precious gems ahead of the holiday season. The world's largest diamond producer by value reported rough diamond sales generated $630m (£472.65m) in its seventh offering this year, up from $528m in the previous round. Read more: How this digital-focused jewellery retailer is shaking [...]
City Moves for 6 September 2016 | Who’s switching jobs September 6, 2016 CBRE Sir Edward Lister has been appointed as a consultant to CBRE, the global real estate advisor. Sir Edward was most recently the mayor of London’s chief of staff and deputy mayor for policy and planning. In his new role, he will work with CBRE’s One London team in advising its clients on public sector engagement [...]
Marks & Spencer confirms cull of its head office staff September 5, 2016 Marks and Spencer has confirmed it will cut 525 jobs in its head office to ensure the business can "work more simply and efficiently". The business will be entering a consultation with employees over the changes which will also result in the number of staff based in London decreasing by around 400, with IT and logistics jobs [...]
CBI beefs up London leadership team in preparation for Brexit negotiations September 5, 2016 Business group the CBI has refreshed its London leadership team as the organisation prepares for a turbulent few years representing the capital’s firms in the wake of the Brexit vote. Vivian Hunt, managing partner for top consulting firm McKinsey’s UK and Ireland offices will become chair of the CBI London council, while CBI insider and [...]
More than a third of corporate debt is now with challenger banks, but London firms yet to be convinced September 5, 2016 Challenger banks are giving the incumbent players a run for their money, as figures out today show over a third (34 per cent) of UK business mortgages and charges are now issued by the smaller, newer lenders. In particular, 32 per cent of corporate debt is handled by what Avention, which carried out the research, classifies as smaller [...]
Royal London attacks Sports Direct over corporate governance issues ahead of AGM September 4, 2016 Two major investment firms are set to join a revolt against Sports Direct’s corporate governance at a crunch AGM on Wednesday. Royal London and Hermes will vote against several board appointments. Royal London Asset Management, which owns a £2.75m stake in the retailer, also pushed Sports Direct to commission an independent external review into its working practices. The [...]