Review of banker bonus cap not top of the agenda, says BoE official April 26, 2021 A review of the cap on bankers bonuses is not top of the Bank of England’s priority list, according to an official. Now the UK is out of the EU it is free to set its own regulatory agenda on financial services. It has previously been reported the Treasury is considering scrapping the cap entirely [...]
Aggreko shareholders vote through £2.3bn takeover bid April 26, 2021 Aggreko shareholders have waved through the multi-billion pound takeover by private equity firms TDR Capital and I Squared Capital. In a statement the FTSE 250 firm said the deal had passed by the majority of scheme shareholders at both its court and general meetings held earlier today. It comes just a month after Aggreko said [...]
Broadband startup Cuckoo closes $6m funding round April 26, 2021 Broadband start-up Cuckoo has today closed a funding round worth of total of $6m as it continues its bid to disrupt the UK telecoms market. The round was led by RTP Global, early backers of Yandex, Delivery Hero, and Datadog. One in five of RTP’s investments are now unicorns, the firm said. Other investors include [...]
Economy shows green shoots of recovery as dividends fall at slowest rate in a year April 26, 2021 UK dividends fell at their slowest rate in the first quarter in an encouraging sign the economy is starting to recover from the worst of the pandemic. Payouts fell 26.7 per cent to £12.7bn in the first quarter year-on-year, according to Link Group’s latest Dividend Monitor. Since the nearly 50 per cent drop in payments [...]
Sunday Sitdown: ‘Skittish’ banks need to up their game, says CEO of Ezbob April 25, 2021 Following a nightmare year that was hugely disrupted by the pandemic and three subsequent lockdowns, the City is slowly switching into recovery mode as the economy starts to re-open and many sectors are coming back to life. To discuss the way back up, City A.M. sits down with Tomer Guriel, chief executive of Marble Arch-based [...]
Public debt: Who has lent a staggering £2.1 trillion to Rishi Sunak? April 23, 2021 Government debt has hit its highest point as a portion of gross domestic product since the early 1960s when the country was still paying off what it had borrowed to fund the fight against Nazi Germany, new figures showed this morning. Last year spending skyrocketed to pay for dozens of programmes to prop up the [...]
Hong Kong Racing Tips: Tourbillon has a Diamond chance at Sha Tin April 23, 2021 IF THERE is one horse who you can guarantee the local racing population will have their eye on it is the undisputed champion Golden Sixty who lines-up in the Champions Mile (8.55am). Ranked joint-fifth in the world’s best racehorses, the Francis Lui-trained five-year-old extended his winning sequence to 13 when winning the Group 1 Citi [...]
Hospitality groups gear up to take on insurers over business interruption cover April 23, 2021 Hospitality companies hit hard by the pandemic are forming groups to take on their insurers, in the hope of receiving business interruption cover they believe they are owed. The hospitality businesses involved believe they are owned payouts from their insurers after the coronavirus and subsequent restrictions left them unable to serve customers for months at [...]
Extinction Rebellion activists block headquarters of Lloyd’s of London in the City April 23, 2021 Climate activists are protesting outside the office of Lloyd’s of London in the City this morning, dumping fake coal outside in front of the building as part of a campaign against insuring fossil fuel mining activities. Activists from the Extinction Rebellion group are holding up banners with slogans such as “Climate Criminals” after they dumped [...]
Fear for the office emerges as Covid sufferers are reluctant to return April 23, 2021 More than a year after the first Covid-19 lockdown, a new trend is emerging among Brits who have been working from home, a genuine fear for the office, according to a new study shared with City A.M. Amongst Brits that now work from home, this trend is more prevalent among those who previously tested positive [...]