London Stock Exchange boss appointed as new FCA chief June 22, 2020 Chancellor Rishi Sunak has today appointed Nikhil Rathi, the current chief executive of the London Stock Exchange, as the permanent boss of the Financial Conduct Authority. Rathi will replace Christopher Woolard, who was serving as the FCA’s interim chief executive following former boss Andrew Bailey’s move to become governor of the Bank of England. The [...]
Beyond Petroleum: Is BP finally moving from rhetoric to reality? June 22, 2020 Kneeling in prayer for a sin he doesn’t regret, Shakespeare’s Claudius, Hamlet’s fratricidal uncle, ruefully admits: “My words fly up, my thoughts remain below, / Words without thoughts never to heaven go.” Claudius knew that empty rhetoric is entirely unpersuasive — a lesson many corporate executives have since learnt. In 2000, BP hired the advertisers [...]
There is a moral, social and business case for a diverse and inclusive Square Mile June 22, 2020 The senseless and shocking death of George Floyd and the Black Lives Matter protests that have followed in the US and the UK have highlighted again the racism that sadly still exists in society. This is a difficult, complex, and emotional issue for all of us, and one that has also rightly caused much concern [...]
The City View: Faith in the City of London – from Roman temples to Wren masterpieces June 22, 2020 In this episode Christian is joined by photographer Niki Gorick whose new book, Faith in the City of London, explores the history and diversity of the Square Mile’s places of worship. Subscribe to The City View Podcast: Apple / Google / Spotify / RSS From Roman temples to Wren masterpieces, the history of faith in the City stretches back thousands of years but [...]
A regulated blockchain can empower governments, corporations, and people June 22, 2020 For too long, blockchain has been regarded as an obscure technology powering an industry that cannot be trusted. According to a recent trust survey by Edelman, three in four people said they were not familiar with blockchain and cryptocurrencies, while 60 per cent believed that these technologies were not regulated enough. So how can we [...]
Exclusive: Elixirr seeks London IPO to end coronavirus drought June 19, 2020 Management consultancy firm Elixirr, whose clients have included Barclays, O2 and RBS, is seeking a London IPO, ending a two-month drought in flotations on the London Stock Exchange. Elixirr will seek a listing on London’s junior AIM exchange this summer, City A.M. can reveal. The company, founded in 2009, plans to go on an equity-funded [...]
FTSE 100 rise as retail sales start to bounce back June 19, 2020 The FTSE 100 solidified this week’s gains on hopes of a swift economic recovery, after figures released this morning showed retail sales beginning to bounce back. London’s blue-chip index opened 26 points higher – 0.43 per cent – to 6,250 points, as investors began to digest a fresh round of economic data. By the afternoon, [...]
Which stock markets look ‘cheap’ after the rapid rebound? June 19, 2020 We look at how five regional markets stack up on various valuation measures. Early last week, the short answer as to which markets looked cheap was: none. Despite everything that 2020 has thrown at it, at one stage the US stock market was up for the year overall. Other markets had also regained a lot [...]
UK borrowing surges to a record £103.7bn in lockdown June 19, 2020 UK borrowing exploded to £103.7bn over April and May’s lockdown, official data showed today, as debt exceeded 100 per cent as a percentage of GDP in May for the first time in 57 years. The current financial year to date – April to May 2020 – has already seen borrowing rocket to £103.7bn. That is [...]
The City View: Rachel Cunliffe on lockdown, culture wars and why she misses the office June 19, 2020 In this episode Christian is joined by City A.M.‘s comment and features editor, Rachel Cunliffe. Newly returned from a brief stint on furlough, Rachel explains why she can’t wait to be back in the office and she considers the topics that will likely capture her attention on the comment desk as the business world starts [...]