Brexit talks: Germany ‘concerned’ over lack of progress given reliance on City October 30, 2020 A senior German government official said he was “deeply concerned” by the lack of progress in post-Brexit trade talks between the UK and EU, given the reliance of Germany companies on funding from the City. “German corporates, for all that I can tell, rely massively on wholesale financing offered from the City of London, so [...]
Exclusive: These are the top 50 London startups to work for October 29, 2020 An insurtech startup that has raised just £13m to date is the best startup to work for in London, according to new research. The incentive-based life insurance platform Yulife is the best London-based startup to work for, according to research by recruitment platform Tempo. The startup, which employs just 61 people, has been recognised for [...]
The Week in Sportbiz: QBE’s bold Six Nations call, and Euro shutdowns spell doom for ‘let fans back in’ push October 29, 2020 England may be hot favourites to win the Six Nations this weekend, but not everyone agrees. Insurer QBE is tipping Ireland to triumph — an outcome currently attracting odds of 3/1 with most bookmakers and even bigger prices on exchanges. It is a bold call, especially as QBE itself predicted England would take the title [...]
Snakes and Ladders: Who is moving jobs in the City this week? October 28, 2020 Snakes and Ladders provides a roundup of the most important hires and job moves across the City, every Wednesday afternoon. Email citymoves@cityam.com to be featured. City firms are continuing to adapt to the challenges and opportunities presented by the pandemic as they vie to be in prime position to recover from the economic fallout of the crisis. This [...]
Institutions don’t share retail investors’ optimism on returns October 28, 2020 Schroders’ studies suggest retail – or individual – investors are more optimistic about future returns than investors at large institutions. Individuals have indicated that they expect average annual returns of nearly 11% over the next five years while institutional investors anticipate a more moderate 6%. Schroders’ Institutional Investor Study is an analysis of views from [...]
Majority of London offices cancel Christmas parties in face of new restrictions October 28, 2020 Almost all London offices have parked the tinsel and cancelled their Christmas parties this year, according to new research, as the capital faces a bleak festive season under Tier 2 restrictions. More than 95 per cent of London businesses have cancelled bookings for traditional office parties this Christmas, after the capital’s move to “high” alert [...]
Why I’m calling for a £15bn National Renewal Fund to support growing businesses October 27, 2020 Some 90 years ago, a government committee set up to examine the health of the British economy identified a persistent shortfall in funding for small and medium-sized businesses. This shortfall was termed the Macmillan Gap — named not after the politician but after the Scottish lawyer, Hugh Macmillan, who chaired the committee. As the saying [...]
Open finance: exploring open banking’s natural evolution October 23, 2020 Laziness. Lack of time. The all-too-frequent challenge of speaking to a helpful person by phone. There are many reasons why consumers and businesses don’t shop around and switch products and suppliers. Failing to keep abreast of the best mortgage rates? Rolling onto the same insurance every year without looking for better deals? If so, open finance – a development coming [...]
‘Reality check’ time: Mel Stride thinks Boris Johnson will break triple tax lock promise October 23, 2020 The UK needs a “reality check” when it comes to public spending levels and Rishi Sunak is almost certain to break the Tories’ triple tax lock election pledge, according to the chief of Westminster’s Treasury committee. Conservative Central Devon MP, and chair of the Treasury Select Committee, Mel Stride told City A.M. in an interview [...]
Shell makes surprise bid for Post Office broadband division October 22, 2020 Oil giant Shell is said to have made a surprise entry into the race to snap up the Post Office’s telecoms division, paving the way for a potential shake-up of the UK broadband market. The FTSE 100 company already has a presence in the telecoms market after taking control of energy and broadband provider First [...]