City Moves: Who’s switching jobs in the Square Mile this week? January 28, 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. BNP Paribas Real Estate BNP Paribas Real Estate has promoted James Carrington to lead the firm’s City investment team, which advised on nearly £1bn worth of deals last year. Taking on the position from Aidan Meynell, who has stepped down, Carrington brings more [...]
Banks say FCA is hindering innovation: Watchdog not responding quick enough to tech trends January 28, 2022 Two thirds of all UK banks and financial institutions think the City regulator, the FCA, is not responding quickly enough to new trends, thereby hindering innovation within the sector. When quizzed about the roadblocks they face, more than half said they have been held back from trialling new technologies due to a lack of formal [...]
Complacent monetary policy has driven an inflation crisis, not businesses’ price hikes January 28, 2022 Inflation hit 5.4 per cent in December, its highest level since 1992. It is widely expected to reach seven per cent in the next few months – it has already reached that level in the US. There are several reasons why inflation has raised its ugly head again. Demand for gas and oil has outstripped [...]
January 27: The City View with Baton Systems’ Jerome Kemp January 27, 2022 Today Andy talks to Jerome Kemp, President of Baton Systems, for a chat about distributed ledger systems and how his company is bringing ledgers into the 21st century. They discuss hashing, how this brings transparency to post-trade processing, why Baton Systems is at an advantage compared to the slow machinations of bureaucratic and established players [...]
Nadhim Zahawi was ‘instrumental’ in helping Greensill become Covid lender January 27, 2022 Education secretary Nadhim Zahawi was allegedly “instrumental” in helping failed financial firm Greensill Capital lend £400m of Covid loans that are now subject to a fraud investigation, it has been revealed Greensill Capital, who collapsed in March last year and counted David Cameron among its employees, lent £400m of government-backed loans to Sanjeev Gupta’s GFG [...]
Is the IMF scared about the future of finance? January 27, 2022 Nigel Green says the IMF's actions are baffling, and asks 'is the IMF scared of cryptocurrency'?
Post-Brexit boost for the City as London takes top spot in global financial powerhouse rankings January 27, 2022 London continues to hold the top spot for financial and professional services in terms of overall offer when compared to other global destinations, including New York, Singapore, Hong Kong, Paris and Frankfurt, according to new figures published this morning. London received an overall competitiveness score of 61, followed by New York (58) and Singapore (53). [...]
LG Energy Solution becomes South Korea’s second-most valuable firm after formidable debut January 27, 2022 LG Energy Solution Ltd (LGES) saw its stock price soar 68 per cent following its trading debut, as the battery maker becomes South Korea's second-most valuable company.
Mike Cherry interview: Now is not the time to saddle small businesses with higher taxes January 27, 2022 The pandemic has been a bumpy ride for Britain’s entrepreneurs and small businesses. Trying to navigate the choppy waters of the government swinging between tougher and looser restrictions to tame Covid-19 has been fraught with risk and uncertainty. But, one thing seems for sure: the looming heavier tax burden will weigh heavily on small firms, [...]
Fuller’s hopeful the return of City workers will help pub sales hit pre-Covid levels January 27, 2022 Pub operator Fuller’s said it hopes its City pubs will see a boost to trade thanks to workers’ “strong desire” to get back to the office. In a trading update for the 43 weeks to 22 January 2022, the pub operator said it had been impacted by Omicron measures last month. As corporate Christmas parties [...]