CBI boss Carolyn Fairbairn sounds the alarm on Brexit “crash-landing” January 16, 2017 CBI boss Carolyn Fairbairn has issued a warning against "crash-landing" into Brexit without planning or sufficient preparation. Ahead of Theresa May's landmark address on tomorrow, Fairbairn has issued a last-ditch plea for a negotiated settlement with Europe, including provisions for transition. "The practicalities of a disorderly crash-landing need to be understood," Fairbairn told the Guardian. "An [...]
Chancellor Philip Hammond praises “success story” Funding Circle as it announces $100m investment January 12, 2017 Chancellor Philip Hammond has praised Funding Circle as a “real success story for British fintech” after the peer-to-peer (P2P) platform announced a new $100m (£82.5m) equity capital. The funding round was led by Accel Partners and included participation from existing investors Baillie Gifford, DST Global, Index Ventures, Ribbit Capital, Rocket Internet, Sands Capital Ventures, Temasek and Union Square [...]
As freezing fog settles across the South East, here are all the travel delays and disruptions taking place in London in the run-up to New Year’s Eve December 30, 2016 New Year’s Eve can be a hectic period for travel, and this year has the added trouble of thick fog and ice causing concern, on top of a planned Southern rail strike. Drivers have been warned to be wary of fog and sub-zero weather conditions across large swathes of England. Freezing fog has settled in [...]
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, [...]
Meet Tom Vernon, the former Manchester United scout and founder of Africa’s top football academy out to turn the sport on its head December 21, 2016 There is something extraordinary about the union between FC Nordsjaelland, an unremarkable Danish first division football club to the north-west of Copenhagen, and the Right To Dream academy in Ghana. It is not just because the club, from the modest 19,000-person town of Farum, is some 5,000 miles away from Right To Dream’s football-oriented residential [...]
Big win for Wincanton as it inks four-year warehouse deal with Ikea December 21, 2016 Supply chain solutions group Wincanton has won the contract for Ikea's warehouses in London, the group announced today. Shares in Wincanton rose 2.34 per cent at the open. The agreement, which will run for four years, will see Wincanton lease and fit-out the warehouses on behalf of the Swedish furniture giant. Ikea's London warehouses occupy a combined [...]
Euro clearing battle heats up as report warns EU against “protectionist” policy to move business away from London December 18, 2016 The battle over euro-denominated clearing is heating up amid apparent attempts to move the business away from London. An Intercontinental Exchange (ICE) report, circulated this month to EU member states, has warned that forcing the clearing of euro derivatives away from the UK could lead to a “significant increase” in costs for European banks. The [...]
London Uber drivers target Salesforce in fresh protests directed at business December 14, 2016 Uber drivers have targeted Salesforce in their fight for workers rights, holding a flash demo outside the tech company's London offices in the heart of the Square Mile. The United Private Hire Drivers (UPHD) union which last month disrupted Westminster with protests, staged the demo at Heron Tower over the firm's use of the corporate Uber for Business service, [...]
Chancellor Philip Hammond calls for a four-year “soft Brexit” as the UK leaves the EU December 12, 2016 Chancellor Philip Hammond has backed a transitional period to ease Britain’s exit from the European Union, bringing relief in the Square Mile but exposing a potential split with senior Cabinet colleagues. Hammond said yesterday that “thoughtful politicians” could see the need for a “longer period to manage the adjustment” of leaving the EU. The comments [...]
The Article 50 court case could have been avoided December 6, 2016 To some, the government’s Supreme Court Brexit appeal is an exercise in throwing good money after bad and taxpayers’ funds are being wasted fighting the wrong battle. The government appears to have overlooked that litigation is about identifying all the options available and picking your fights carefully to achieve the best possible outcome. This litigation [...]