Court told of Treasury’s ‘pervasive’ impact on controversial RBS unit GRG July 8, 2019 The government’s influence over a disgraced wing of RBS in the years following the financial crisis was “pervasive”, a court was told today. An internal bank memo from June 2010 raises concerns about the Treasury’s involvement in the global restructuring unit (GRG) of RBS. The GRG has been accused of driving small businesses into the ground as [...]
City Moves for 2 July – Who’s switching jobs? July 2, 2019 Today’s City Moves includes Weatherbys Private Bank, Personal Group and Ocean Outdoor Weatherbys Private Bank David Green has joined Weatherbys Private Bank as head of credit from C. Hoare and Co and will be responsible for ensuring that the bank’s prudent and responsible approach to lending continues. Prior to nearly 19 years at C. Hoare [...]
Sanjeev Gupta’s Liberty Steel completes €750m Arcelormittal asset purchase July 1, 2019 Liberty Steel, part of billionaire Sanjeev Gupta’s GFG Alliance, has completed the €750m (£671m) acquisition of Arcelormittal’s European assets. The deal, which will add 14,000 employees, seven steelworks and five service centres to Liberty’s portfolio, is the biggest undertaken by the group to date. GFG Alliance now has around 30,000 workers across 30 countries, following [...]
Senior women in finance call for female-led IPOs to triple July 1, 2019 Senior women from top financial institutions have called for the number of female-led businesses going public to triple by 2025. Leading women from major banks, law firms and insurance companies gathered at the opening of the London Stock Exchange this morning to call for change as part of a campaign by the WealthiHer Network. Read [...]
Low growth predicted in second quarter as Brexit uncertainty and rising costs bite July 1, 2019 Two of Britain’s biggest business groups have warned of dismal growth for the second quarter of 2019 as political turmoil and rising costs take a heavy toll on the UK economy. Downbeat forecasts for the health of the country’s private sector have been laid bare by two major business trade bodies, the British Chambers of [...]
Former UN climate chief calls for fossil fuel database July 1, 2019 Investors should be given more information about energy companies’ fossil fuel usage so they can steer funding away from activities that contribute to climate change, former UN climate change chief Mary Robinson has said. Robinson proposed the creation of “comprehensive, transparent database of all existing fossil fuel assets and reserves” in a collection of essays [...]
Insurance giants in talks to buyout £10.5bn British Steel Pension Scheme June 29, 2019 The board of the £10.5bn British Steel Pension Scheme (BSPS) are in talks with a number of insurance giants to sell it. Trustees of the BSPS have begun discussions to offload the scheme two years after receiving £550m to rescue the steel firm, according to Sky News. Read more: FCA crack down on defined benefit [...]
Drive a Lambo around the UK thanks to Dream Collection and the City A.M. Club June 28, 2019 My stable of cars is filled with the latest models, allowing me to choose the perfect ride to suit my lifestyle. “For a weekend away with the kids – their bags, bikes and trikes – I chose the Range Rover Autograph or Audi Q7; both are perfect companions for a family adventure. “For a stress [...]
Tory leadership contest: Boris Johnson plans emergency budget for no-deal Brexit June 28, 2019 Boris Johnson is set to outline an emergency budget featuring heavy tax cuts in the event of a no-deal Brexit, it is reported. Read more: Jeremy Hunt accuses Boris Johnson of getting Brexit facts wrong The Tory frontrunner and favourite to be Britain’s next Prime Minister has committed to leaving the EU with or without [...]
Calling the data doctor: How Chronomics wants to educate you about your epigenetics June 27, 2019 How old are you? A simple enough question, you may think, but not for Dr Tom Stubbs, co-founder and chief executive of epigenetic testing company Chronomics. Epigenetics is (to quote the Chronomics website) the study of heritable phenotype changes that do not involve alteration in the DNA sequence. It’s essentially how environmental factors – from [...]