City Moves: Who’s switching jobs in the Square Mile? March 29, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Dominvs Group London-based real estate developer Dominvs Group has appointed the former CEO of Travis Perkins Properties (TPP) as a senior advisor. Martin Meech steps onto the board with more than four decades of property experience, spanning M&A, strategic development, finance structuring, and [...]
Exclusive: Support scheme for SMEs post-Covid has hit just 1 per cent of its target March 29, 2022 Rishi Sunak’s scheme to boost the productivity of British small and medium-sized enterprises (SMEs) post-Covid has hit just one per cent of its target since it was launched last July. The government wants 30,000 businesses to complete the Help To Grow management scheme – which offers subsidised business training – however just 402 SMEs have [...]
Shareholders prepare to turn back on Ericsson chief amid supposed Isis payments March 28, 2022 Some of Ericsson’s biggest investors have said they would vote against clearing some of its board members of responsibility over the possible payment of bribes to militant groups in Iraq, such as the Islamic State. Cevian Capital and Norway’s sovereign wealth fund have revealed their plans to vote against the motion due tomorrow at the [...]
City A.M. Awards 2022: Accountancy Firm of the Year March 28, 2022 The City is back, and so are the City A.M. Awards, recognising the best of the Square Mile, Canary Wharf and London’s business community – which has shown shown resilience, innovation and adaptability like never before over the past year. We’re delighted to host what will be a wonderful celebration of the capital’s rebound, but [...]
UK ransomware attacks double in past year March 28, 2022 New data has revealed that the number of ransomware attacks reported to the Information Commissioner’s Office has increased 100 per cent from 326 in 2020 to 654 in 2021.
To make the City rich in socio-economic diversity, we need a measure of it first March 28, 2022 THE City of London today is a far more diverse place than when I started out my career as a lawyer. The workers spilling out of the tube stations, flitting between offices, grabbing coffees and enjoying the Square Mile’s vibrant hospitality venues are now a rich cosmopolitan blend, representing every corner of the globe. Strikingly [...]
National Grid ditches stake in gas transmission unit March 27, 2022 National Grid is ditching its 60 per cent stake in its gas transmission and metering arm to a pair of funds, it announced today. The firm which manages the distribution of energy around Britain will offload the stake to Australia’s Macquarie Asset Management and Canada’s British Columbia Investment Management Corporation. The sale will raise around [...]
Week ahead: City eyes fresh borrowing figures for signs of spending slowdown March 27, 2022 Investors will be keeping a close eye on fresh economic data this week for further signs of the cost of living crunch hitting spending. A flurry of downbeat economic announcements and data last week did not derail the capital’s premier FTSE 100 index, which added over one per cent to reach 7,483.35 points by the [...]
Retail sales drop as Brits return to venues while cost of living crunch looms March 25, 2022 Retail sales volumes fell 0.3 per cent last month as Brits made the most of Covid restrictions abating. Stormy weather also deterred shoppers from making trips to the high street, with Storm Eunice and Storm Dudley causing travel haovc across the country last month. According to the Office for National Statistics (ONS), shoppers bought less [...]
Sunak wants to be a low-tax Tory but instead he’s following the US and picking winners March 25, 2022 When Frank Sinatra first uttered the words “the best is yet to come”, the UK’s fiscal strategy probably couldn’t have been further from his mind. But the words ring true after a spring statement that did little to make life any easier for those of us who make a living trying to read the Chancellor’s [...]