Professional advisers cash in on the carcass of BHS January 5, 2017 Professional advisers working on the BHS case have raked in £1m in just six weeks even as the retailer's former workers wait on Sir Philip Green to make a contrbution to the BHS pension black hole. According to Sky News, firms such as DLA and Savills earned £1.125m between 25 October and 2 December, and the [...]
Currency trading firm shelves IPO plans, citing FCA spreadbetting crackdown January 4, 2017 A currency trading broker has shelved plans for a stock market flotation, citing uncertainty caused by a City watchdog probe into spreadbetting. FxPro began lining up an initial public offering (IPO) in 2015, but reportedly put the plans on hold last year. The flotation plans have now been shelved again amid a Financial Conduct Authority [...]
£30bn in the pipeline: This is the year UK firms will cut pension schemes loose January 4, 2017 Britain's companies will shift sky-rocketing pension liabilities from their balance sheets this year, experts have predicted. With defined benefit pension schemes at record year-end levels, 2017 will be year to de-risk and UK plc is keen to take advantage of the improved affordability of shifting scheme risk to the insurance, according to Willis Towers Watson (WTW). Read more: As pension [...]
“Sensational” Antonio Conte could remain Chelsea manager “forever”, says technical director Michael Emenalo January 4, 2017 Chelsea manager Antonio Conte could stay at Stamford Bridge "forever" according to technical director Michael Emenalo. The close confidant of club owner Roman Abramovich said the Italian coach has already won over everyone at the club since his side has taken the Premier League by storm and put together a record-equalling run of 13 consecutive wins. Chelsea can set [...]
Ginsters owner to team-up with celebrity-backed Cornish pasty firm January 3, 2017 Baker Greggs' UK pasty dominance is to come under increasing pressure as two of its rivals are set to announce a tie-up as part of a multi-million pound deal. Samworth Brothers, which owns a variety of brands including Ginsters, will announce this week plans to buy West Cornwall Pasty Co – a celebrity-backed firm that was saved [...]
From Southern rail’s backfiring poster to Google’s April Fool prank gone wrong: Six of the most memorable business blunders of 2016 January 1, 2017 2016 has been an interesting year to say the least. There has of course been a plethora of notable political events over the past 12 months, but there’s also been plenty going on in the business world. With that in mind, here are some of the most memorable company clangers from over the year – from [...]
Wiggins saga reignites: Damian Collins says there is no evidence to back-up Dave Brailsford’s decongestant claims December 29, 2016 The teams behind five times Olympic gold medalist Bradley Wiggins have failed to provide evidence to back-up claims a mysterious package delivered to the team contained a non-banned medical substance. Controversy surrounded Team Sky – who masterminded Wiggins' 2012 Tour de France victory – and British Cycling earlier this year after it was revealed a British Cycling coach was asked [...]
Brexit, six months on: City leader demands government allays uncertainty in the Square Mile December 23, 2016 Doesn't time fly? Just six months ago half the nation was celebrating the Britain's decision to unshackle itself from the EU, while the other half had that knot in the pit-in-the-stomach feeling. The good news so far is the sky hasn't fallen in. And this was after 2016 continued to shock and surprise us from a [...]
Virgin Media boss is baffled by broadband windfall, saying it conflicts with Ofcom plans December 22, 2016 Virgin Media has hit back at news of a £440m broadband boost to the remote parts of Britain. The government announced today more money would be ploughed back into the country's telecoms infrastructure as a result of better than expected demand for superfast broadband in the hard to reach areas. The money is a rebate from [...]
Editor’s 2016 review: It’s been a year of momentous political change, but there’s every reason to look to the future December 22, 2016 Attempting to reflect such an extraordinary year with just a handful of our own front pages was always going to be difficult, but I thought we’d give it a go. The front page of City A.M. is (to borrow a phrase from our marketing department) the front door of our brand. The choice of splash, [...]