This marks the start of a brave new post-Brexit future January 30, 2020 Tonight at 11 o’clock, as the Brexit countdown clock ticks to zero, I will be toasting the moment with a bottle of Brexit Beer, produced by my friend and fellow Leave campaigner Jon Moynihan. My toast won’t be to winning the Referendum or Getting Brexit Done. Rather, it will be a toast to the future, [...]
Airbus set to agree £3bn fine tomorrow to settle corruption probe January 30, 2020 European plane maker Airbus’s £3bn plea deal with prosecutors is expected to be approved in court tomorrow, settling a long running corruption probe. The deferred prosecution agreement (DPA) between the Serious Fraud Office (SFO) and Airbus has been agreed in principle and is set to be approved by the President of the Queen’s Bench Division [...]
Brexit: how did we get here? January 30, 2020 How did the Brexit timeline lead us here, what impact has it had on the pound and how can the resulting foreign exchange risks be mitigated? The UK began preparations to withdraw from the European Union back in June of 2016. The process has had an undeniable impact on the volatility of the exchange market [...]
Square Mile police station to be transformed into five-star hotel January 30, 2020 The City’s Grade II* listed Wood Street Police Station is set to be transformed into a five-star hotel. The City of London Corporation has sold the building to Magnificent Hotels, after deciding the police station was “surplus to operational requirements”. The police force will be based at the Wood Street station until around December this [...]
Centamin shares on the rise as gold production grows January 30, 2020 Centamin’s shares rose over five per cent today as the gold miner’s fourth quarter results vindicated its decision to resist a takeover offer from mining giant Endeavour. Gold production from the firm’s flagship Sukari mine rose eight per cent year on year to 148,387 ounces for the last quarter. Full year gold production rose two [...]
Deutsche Bank crashes to massive €5.7bn loss January 30, 2020 Deutsche Bank slipped to a larger than expected loss of €5.7bn (£4.8bn) last year, as the costs of its turnaround drive hit profits. The German banking giant has now posted losses for five consecutive years. Deutsche has struggled with misconduct scandals, failed US growth plans and an abortive merger with rival Commerzbank. Chief executive Christian [...]
Law firms lead Stonewall’s top LGBT-inclusive employers January 30, 2020 City law firms are some of this year’s most inclusive employers for the LGBT community, with 15 topping Stonewall’s employers of the year. Legal organisations were the second most inclusive sector, with fifteen firms on the list. Last year’s winners Pinsent Masons topped the private sector employers at fourth place. Mayer Brown and the Solicitors Regulation [...]
BBC ‘faces existential threat’ as it slashes 450 jobs January 29, 2020 The BBC has been warned it is facing an “existential threat” after the broadcaster announced it will cut roughly 450 jobs. The corporation today said it will slash the roles from its news output as it looks to save £80m by 2022 and counteract declining viewing figures. The cuts are set to impact Newsnight, which [...]
Has the business world found its purpose? Trust, but verify January 29, 2020 Last week’s Davos carnival was an orgy of virtue signalling. A group of senior executives flew in on private jets to talk about how to tackle climate change. Leaders of companies that have been highly active in lobbying for corporate tax breaks signed a letter calling for higher taxes on the rich if we are [...]
City Moves for 29 January – Who’s switching jobs at TalkTalk, Countryside and SDL? January 29, 2020 Today’s City Moves includes TalkTalk, Countryside and SDL TalkTalk TalkTalk has hired the former BBC journalist and campaign strategist, Lucy Thomas, as director of corporate affairs. Lucy joins from the communications agency, Edelman, where she was senior director, leading campaigns and advising major brands like Uber, Sainsbury’s and Coca Cola on corporate reputation, PR, political [...]