London will find ways to adapt and thrive — as it always has October 26, 2020 Now that London has moved into even tighter local lockdown restrictions, it would be easy to be pessimistic about the future. Some have argued recently that the capital’s days as a world leading business centre are numbered due to the pandemic, our exit from the European Union, and a rising tide of protectionism across the [...]
First Woodford court battle could come this year October 26, 2020 The first of what could be many legal claims relating to the collapse of the Woodford Equity Income fund is expected to be launched by the end of the year, reports emerged today. London laywers Harcus Parker are co-ordinating a class action lawsuit and are believed to be ‘further down the track’ than rivals in [...]
Could your savings save the planet? October 26, 2020 When Covid-19 upended our lives in March, Rishi Sunak became the hero of the hour by emptying the Treasury’s coffers to support the jobless and keep our economy afloat. It was the kind of quick-thinking fiscal response our country needed at a time of crisis — similar to the Treasury’s bank bailouts in 2008. But [...]
City of London to provide schoolchildren with free food vouchers over half term October 23, 2020 The City of London Corporation will provide food vouchers for schoolchildren eligible for free school meals over half term. It is the latest local authority to announce the step after the government elected not to make free meals available over the next six months. Other London councils such as Kensington & Chelsea, Lambeth, and Southwark [...]
City sponsors initiative for more diversity in asset management October 23, 2020 A pilot program aiming to boost the number of ethnic minority Londoners in asset management has launched today. Students will be given education and training to prepare them for a career in asset management, earning a Level 2 CISI Fundamentals of Financial Services qualification. The pilot has been led by #Talkaboutblack, a movement to increase [...]
Top lawyer at City firm attacks £100,000 starting salaries October 23, 2020 The senior partner of a top law firm has criticised starting salaries soaring to six figures for some newly qualified solicitors saying they are “unsustainable”. “The levels of pay in major private practice law firms are completely unsustainable”, Richard Foley, senior partner at Pinsent Masons told the Innovative Lawyers Summit on Thursday. “You see stuff [...]
Which stock markets look cheap as we enter the final quarter of 2020? October 23, 2020 While the virus itself hasn’t gone away, as far as financial markets are concerned, the pit of misery was back in March. At that point, a typical global market stock market portfolio had haemorrhaged around a third of its value in just six weeks. Stocks have soared As is often the case, peak despair turns [...]
Jes Staley confirms intention to stay on as Barclays beats expectations October 23, 2020 Jes Staley has signalled his intention to remain at the helm of Barclays after the bank reported better-than-expected results in the third quarter. In a call with reporters Staley said he would like to lead the bank for two more years, after Barclays today reported a return to profit for its consumer division. Between July [...]
US private equity firm Lone Star to buy developer McCarthy & Stone for £630m October 23, 2020 US private equity firm Lone Star has made an offer to buy UK retirement property developer McCarthy & Stone for £630m. McCarthy & Stone has recommended that shareholders approve the deal, which represents a premium of 38.6 per cent to yesterday’s closing share price of 83p. The board said the offer represents “fair value” for [...]
Square Mile to relax al fresco dining rules in bid to save bars and restaurants October 22, 2020 The City of London hopes to revive the Square Mile’s beleaguered hospitality sector by relaxing its al fresco dining rules. Bars and restaurants will be able to make more efficient use of outdoor space, helping them comply with strict Tier 2 rules, under which people from different households cannot meet indoors. The changes include reducing [...]