Wall Street lenders face reporting probes by UK banking watchdog January 4, 2020 A number of Wall Street’s biggest banks are facing investigations from the UK’s banking regulator regarding concerns of widespread financial reporting failures. The Prudential Regulation Authority (PRA) is commissioning reports on the quality of data being supplied to it by companies including Goldman Sachs and Morgan Stanley, according to Sky News. The UK operations of [...]
World leaders call for restraint as Iran promises revenge for killing January 3, 2020 World leaders have urged calm amid simmering tensions after the US confirmed it was responsible for an air strike which killed top Iranian general Qasem Soleimani in Baghdad. Iran’s Supreme Leader, the Ayatollah Khamenei, said that harsh revenge awaited the “criminals” who killed Soleimani. Read more: European stocks falter after US kills top Iranian general [...]
Four London infrastructure projects that unravelled in 2019 December 23, 2019 Boris Johnson “loves infrastructure”. At least, that’s what the Prime Minister said when he was asked about the High Speed Two rail project on the campaign trail earlier this month. And it is just as well. Because some of London’s biggest infrastructure problems are creaking at the seams. If the PM were not so keen on [...]
Live sport: How, when and where to watch all the best action on TV this Christmas December 20, 2019 It’s the most wonderful time of the year if you are a sports fan with endless live action to get stuck into. Here City A.M. details the biggest and best events over the festive period and how to watch them. Scroll down for a full list. Football It all gets underway this Saturday as Arsenal [...]
Here’s to another 10 years of City success December 20, 2019 It has been a decade of great upheaval for the City. January 2010 saw the UK economy just starting to come out of recession, with unemployment at its highest in 15 years, and a raft of regulations and inquiries into the financial services sector imminent, not to mention an election that would mark the start [...]
British Steel buyer set for £120m government support package December 19, 2019 The Chinese takeover of failed manufacturer British Steel has been bolstered by reports the government is in the process of finalising a £120m package to help protect jobs in the area. Business secretary Andrea Leadsom and minister Nadhim Zahawi met executives from Jingye Group on Wednesday to discuss completing the purchase. Read more: British Steel [...]
Co-op owners sound out potential buyers December 18, 2019 The hedge fund owners of the Co-op Bank are reportedly on the hunt for potential buyers. Two-and-a-half years after the lender was rescued from collapse, the US investors which took control of the Co-op have started holding talks with possible bidders, according to Sky News. The broadcaster cited sources as saying that several British retail [...]
Despite its sky-high valuation, the Saudi Aramco IPO was no success December 18, 2019 When Saudi Aramco launched its IPO on the Tadawul (the Saudi stock market) earlier this month, it quickly became the world’s most valuable listed company, with a valuation of $1.7 trillion. It is now worth more than the next five largest hydrocarbon companies — ExxonMobil, Total, Royal Dutch Shell, Chevron and BP — combined. Yet [...]
Department store chain Beales hoists for sale sign December 17, 2019 Department store chain Beales has put itself up for sale in a bid to secure a sustainable future for the company in a challenging retail environment. The Bournemouth-based company has appointed KPMG to conduct a strategic review of the firm, including assessing a potential sale. Read more: Debenhams strengthens board as department store implements rescue [...]
Book closes on bargain retailer amid fierce competition December 17, 2019 The Book People, one of the UK’s largest booksellers, has been forced into administration in the run up to Christmas. PwC has been appointed to manage the insolvency process, Sky News reported. Read more: Amazon’s Deliveroo investment raises competition concerns, watchdog finds The accountancy firm was handling an auction for the bookseller, as its private [...]