DEBATE: Was the collapse of Thomas Cook inevitable? September 24, 2019 Was the collapse of Thomas Cook inevitable? Julian Jessop, economics fellow at the Institute for Economic Affairs, says YES. It is sad to see the collapse of the world’s oldest travel firm, but badly run companies must be allowed to fail. There was some bad luck here, including unrest in Turkey, European heat waves, and [...]
In a world of data and digitisation, the City continues to hold the winning cards September 24, 2019 At a time when the spotlight is on London’s future as a global hub for finance, new data showing that the capital has extended its lead in global FX and interest rate derivatives trading since 2016 was a clear vote of confidence in the City. This was backed up by the latest Global Financial Centres [...]
Lloyd’s of London braces itself for culture survey findings after months of pressure September 23, 2019 Lloyd’s of London is set to reveal the outcome of a sweeping company poll tomorrow following months of scrutiny over devastating misconduct allegations. The historic marketplace is hoping to turn a new leaf when it releases the results of a ‘culture survey’ alongside actions it will vow to take in the wake of recent criticisms. [...]
Labour pledges to cut working week to 32 hours September 23, 2019 Shadow chancellor John McDonnell has pledged to cut back the working week to 32 hours, with no loss of pay, “within the next decade” under a Labour government. In what would be a radical transformation of the UK’s labour market, increasing the role of the state in the workplace, McDonnell set out how a Labour [...]
Don’t Thomas Cook it: What customers should do after tour operator collapse September 23, 2019 Airline Thomas Cook gave way to its financial pressures this morning, impacting 600,000 passengers around the world. Experts say that many customers will be covered and the government has embarked on the UK’s biggest peacetime repatriation in history, but what should you do if you have a ticket with Thomas Cook? If you are abroad [...]
Fintechs are moving at such break-neck speeds that they’re struggling to mitigate the risks September 23, 2019 The “challenger” moniker has been given to a new generation of financial brands because they are disrupting the status quo set by the financial institutions of the past. But it may be that the speed at which these tech-focused firms are expanding will leave them open to significant risk in the near future. In fact, [...]
City Moves for 23 September – Who’s switching jobs at Finncap, the FCA and Gama Aviation? September 23, 2019 Today’s City Moves includes Finncap, the FCA and Gama Aviation. Finncap Finncap, an adviser and broker to ambitious growth companies, has announced that it has appointed highly-experienced specialist Leigh Webb to head its private equity sponsor coverage and expand its mergers and acquisitions (M&A) advisory business across the mid-market private equity community. He brings an [...]
Insurance industry wrestles with diversity deficit September 23, 2019 It is fair to say the insurance industry has not had the best year reputation-wise. In March an explosive Bloomberg story lifted the lid on a culture of drinking and sexual harassment at Lloyd’s of London – the beating heart of the UK’s insurance industry. Tomorrow, Lloyd’s chief executive John Neal will unveil a report [...]
Big banks shift just 1,000 jobs since Brexit vote, EY reports September 20, 2019 Just 1,000 jobs within the big banks have left the City since Brexit, a new report from EY has found. According to the accountancy giant, among the large investment banks monitored in its tracker under 1,000 jobs have already relocated to the continent. Read more: Worldwide climate strikes set to start The figure represents 15 [...]
Medical cannabis could nip Britain’s growing opioid crisis in the bud September 20, 2019 The United States is suffering from an epidemic that is estimated to have claimed 400,000 lives. In what is now known as the opioid crisis, drug manufacturers have been raking in huge profits over the past two decades by mass prescribing a diverse class of addictive painkillers known as opioids. Now, about 130 people in [...]