Is this the age of the unfiltered CEO? January 29, 2025 Mark Zuckerberg’s recent conversation with podcaster Joe Rogan stays in my mind for a number of reasons. The idea of the world’s Nerd-in-Chief stripping off and shooting pigs with a bow and arrow was one of the more bizarre images to emerge from the chat, along with his slightly cringeworthy enthusiasm for fighting other men [...]
Rachel Reeves vows to fight for economic growth January 28, 2025 The Chancellor will declare that “growth won’t come without a fight” as she unveils her plan to turnaround Britain’s ailing economy with billions of pounds of investment and new infrastructure projects. Reeves will pledge an £80bn boom to the economy from a new Oxford-Cambridge Growth Corridor in a move that comes after the pensions industry [...]
CMA set for showdown with Amazon and Microsoft over cloud dominance January 28, 2025 The competition watchdog could be set for a showdown with Amazon and Microsoft after an independent inquiry group said the regulator should probe the two firms’ dominance in the cloud services market. After launching an investigation into the market in 2023, the inquiry group said today that competition in the £9bn sector was not working [...]
Ovo Energy buys brand from billionaire founder in £150m deal January 28, 2025 Ovo Energy has bought its brand from the company’s billionaire founder in a £150m deal. The Bristol-based firm, which is the country’s fourth-biggest household energy supplier, has made the move as part of a wider reorganisation. It was reported last Summer that Ovo Energy was close to hiring bankers to explore fundraising options which could [...]
CT Group appoints Baroness Helena Morrissey as non-executive January 28, 2025 Sir Lynton Crosby's consulting firm CT Group has appointed Baroness Helena Morrissey as a non-executive director, City AM can exclusively reveal
Prime Minister Keir Starmer claims the UK economy is ‘turning around’ January 28, 2025 Prime Minister Keir Starmer said the UK economy is “turning around” as the government attempts to turn the page on a bruising first six months in power. “The number one priority of this Labour government is growth: growth, growth, growth,” Starmer said in an interview with Bloomberg TV. “We have to get our economy working. [...]
HSBC set to wind down UK, European and US investment banking arms January 28, 2025 HSBC is set to wind down parts of its investment banking operations across the UK, Europe and North America as part of a sweeping global restructuring plan under new chief executive Georges Elhedery. The move comes after Europe’s biggest lender revealed plans to make $3bn (£2.4bn) of cost savings last year and reorganise into four [...]
FCA chief: City firms should get ready for a ‘different relationship’ with us January 28, 2025 City firms should expect a “different relationship” with the Financial Conduct Authority (FCA) and fewer “detailed rules”, as the watchdog rows in behind the government’s drive for growth, its chief executive Nikhil Rathi has said. In an interview with the Following the Rules podcast, the FCA boss warned the regulator was being forced to “rigorously” prioritise its [...]
UK dividends fall in 2024 after miners cut payouts January 28, 2025 UK dividends fell 0.4 per cent on an underlying basis in 2024 after miners slashed payouts by 40 per cent compared to the previous year. While headline dividends in 2024 rose 2.3 per cent to £92.1bn, this was thanks to a surge in one-off payments to £5.6bn. Underlying or regular dividends fell to £86.5bn, thanks [...]
Pension industry backs Reeves’ £160bn investment drive January 28, 2025 The pensions industry has said it is willing to back the Chancellor Rachel Reeves’ plans to unlock up to £160bn in corporate surpluses if retirees are given “appropriate protection” by the government. Reeves and the Prime Minister Keir Starmer are set to meet with business leaders in the City of London today to outline pension [...]