Refinitiv executive hired to lead the fight in Brussels for the City’s future post-Brexit November 18, 2018 A senior boss at financial data firm Refinitiv has been appointed to fight for the City's future ahead of Brexit. The City of London Corporation said it was looking to strengthen its Brussels office and that a new managing director would be a “focal point” for building a new relationship between financial and professional services [...]
Jeremy Corbyn says a second Brexit referendum is ‘not an option for today’ November 18, 2018 Labour leader Jeremy Corbyn has distanced himself from calls for a second referendum, saying it was an "option for the future" but not one for "today". Speaking to Sky News, Corbyn said his party would vote against the draft withdrawal agreement because it failed to meet Labour's six tests, one of which is that it must [...]
Competition and Markets Authority launches probe into bond market November 18, 2018 The UK’s competition watchdog has launched an investigation into a suspected financial services cartel in the bond market. The Competition and Markets Authority (CMA) said on Friday that it had launched a probe into alleged anti-competitive activity under Chapter One of the Competition Act 1998, which addresses price fixing and attempts to control markets. The [...]
Alliance of business leaders urges MPs to scrap May’s Brexit deal November 17, 2018 More than 200 chief executives, founders and entrepreneurs have signed a letter calling on Conservative MPs to vote down Prime Minister Theresa May's proposed Brexit deal, urging them to cast aside their political differences. The document, coordinated by members of the Alliance of British Entrepreneurs (ABE) and seen by City A.M., asks MPs to be subjective in [...]
Former London Stock Exchange chief Xavier Rolet close to City return with hedge fund CQS November 17, 2018 Former London Stock Exchange (LSE) chief executive Xavier Rolet is in advanced talks to become a co-chief executive at leading hedge fund manager CQS. The Frenchman left his job at the LSE Group in contentious circumstances last year, after being asked to step down by the board a year earlier than planned in a bid to end [...]
Brexit: These are the MPs who have submitted no confidence letters to the 1922 Committee November 16, 2018 The number of MPs who have admitted to sending no confidence letters in Prime Minister Theresa May surpassed more than 20 today as the threat of a no confidence vote grows. A total of 48 letters must be sent to Sir Graham Brady, chair of the influential backbench 1922 Committee in order to trigger such a [...]
No confidence vote in Theresa May set to go ahead as Conservative MPs send letters to 1922 Committee November 16, 2018 A confidence vote in the Prime Minister is now reportedly likely, as the number of no confidence letters submitted by Conservatives have reached the limit required to trigger a vote. The forty-eight letters required to force a confidence vote are now with the chairman of the 1922 Committee, according to Brexit Central, which cited an anonymous [...]
Editor’s Notes: Nobody has a clue what’s going to happen November 16, 2018 Westminster has entered a period of chaos, marked by the usual signs of political turmoil: marquees outside parliament for camera crews, protesters desperately trying to get in shot and MPs from all sides of the debate milling around trying to get on the air. In the City, frantic movements in sterling and a sizeable hit [...]
Morgan Stanley banker drops out of RBS finance chief race November 15, 2018 Morgan Stanley investment banker William Chalmers has pulled out of the race to take the chief financial officer job at the Royal Bank of Scotland. Chalmers had been in the running to replace Ewen Stevenson as the bank’s CFO, but has now withdrawn from the race, it is understood. Sky News reported Chalmers had come [...]
Brexit live blog: Prime Minister Theresa May defies rebels, saying she will carry on in ‘national interest’ November 15, 2018 Welcome to City A.M.’s live blog – we’re keeping an eye on the breaking Brexit News today. Refresh the page occasionally for updates. 10:29pm – City A.M.: May’s ‘Not out’ Things have stayed quiet for some time now, and despite the occasional rumble, it looks like we’ll have to wait until tomorrow to hear more. Looking [...]