Friedman served us well, but now it’s time to challenge his view of corporate purpose July 4, 2022 THE traditionally-accepted purpose of a business, as famously espoused by Milton Freidman, has been to earn a profit for its owners or shareholders. This concept stood for many years as fundamental and non-negotiable. The investment world has historically been managed on two dimensions: risk and return. For an investor, the question has typically been: how [...]
Construction in the City will be sabotaged by a skill shortage without a long-term plan July 4, 2022 Two of the biggest long-term challenges we face are climate change and the labour market. The problems are well-known: holding to 1.5 degrees increase from pre-industrial levels and a shortage of appropriately skilled labour. For too long, problems such as these have been viewed in isolation, rather than stepping back to see the bigger picture [...]
Week ahead: Traders eye rate setter speeches for signs of quicker tightening July 3, 2022 Investors this week will be looking for signs of the Bank of England launching a 50 basis point rate rise at its next meeting on 4 August. London’s premier FTSE 100 index posted a mild performance over last week, dropping 0.56 per cent to end at 7,168.65 points. The domestically-focused mid-cap FTSE 250 index however [...]
easyJet execs jet off to Mallorca resort while passengers bear weight of travel chaos July 3, 2022 easyJet’s senior executives are jetting off to Mallorca this week while thousands of passengers bear the weight of the ongoing travel chaos. The airline’s management team are set to have a two-night corporate retreat at luxury resort Iberostar in Palma, which counts an infinity pool and a sunset champagne bar among its many amenities. Bosses [...]
Head of London Stock Exchange’s data transformation quits after just a year in charge July 1, 2022 The London Stock Exchange’s head of data and analytics transformation has stepped down after just a year in charge. Andrea Remyn Stone quit her post as head of data and analytics citing personal reasons with the LSE’s CEO filling the role until it is permanently filled. The move comes after the London Stock Exchange bought [...]
Barclays fights cost of living crisis with £1,200 pay rise for 35,000 employees June 30, 2022 Barclays is giving 35,000 of its UK-based staff a £1,200 pay rise to tackle the cost of living. The banking giant will provide this salary increase to customer-facing, branch, and junior support workers from 1 August. “Barclays will continue to monitor the economic situation globally and consider our approach to pay in each country in [...]
Square Mile’s post-pandemic leisure revival to be spearheaded by top West End marketing guru June 30, 2022 The West End’s top marketing guru has been brought on board by the Square Mile to lead its post-pandemic leisure revival. Luciana Magliocco will spearhead Destination City, in a bid to “redefine” the oldest part of the capital after multiple lockdowns hit retailers, pubs and bars hard. Three big events are already planned for Autumn, [...]
AXA UK Chairman Scott Wheway steps down with Mark Pain appointed June 30, 2022 AXA UK plc announced that Chairman of the Board Scott Wheway is stepping down today. Non-Executive Director Mark Pain will serve as Chairman from tomorrow. Wheway was appointed as Chairman in December 2017 while Pain was appointed to the Board in December 2018. He is Chairman of the Risk Committee and Senior Independent Director Wheway said [...]
‘I’m left wondering what price The Hundred franchises could one day fetch’ June 30, 2022 “What does Ed Warner know about tennis?” What indeed? My critique last week of the Lawn Tennis Association’s performance drew this feisty query in the Sport inc. comment section from Tom (no surname provided). It also garnered a response column in City A.M. from the LTA’s CEO, Scott Lloyd. Both Tom (no surname provided) and [...]
City of London elections: Biggs wants to bring the City back to life June 30, 2022 As the City of London prepares for elections, one candidate wants to reinvigorate the Square Mile. Nigel Biggs is one of five hopefuls in the Walbrook Ward for the forthcoming 7 July vote in the City of London, a municipality which has been functioning since at least 1032. With people spending more time working from [...]