City Moves for 26 November 2015 | Who’s switching jobs November 25, 2015 EDENTREE INVESTMENT MANAGEMENT David Katimbo-Mugwanya has been appointed fixed income fund manager at the investment management firm. He joins from Epworth Investment Management, where he managed both institutional client and charity portfolios. WESLEYAN The mutual financial services provider has appointed Ahmed Farooq as chief financial officer. He joined Wesleyan in 2010, and was previously managing [...]
Autumn Statement 2015: George Osborne’s speech transcript in full including stamp duty, business rates and corporation tax announcements November 25, 2015 Mr Speaker, this Spending Review delivers on the commitment we made to the British people that we would put security first. To protect our economic security, by taking the difficult decisions to live within our means and bring down our debt. To protect our national security, by defending our country’s interests abroad and keeping our [...]
Autumn Statement 2015: Osborne confirms new flat state pension will be £155.65 a week November 25, 2015 Chancellor George Osborne today said that the new flat state pension will be £155.65 a week, while the basic state pension will rise by £3.35 to £119.30 a week from April. It came as he promised to maintain the state pension "triple lock" – meaning they'll rise in line with the highest of inflation, earnings or at [...]
Autumn Statement and Comprehensive Spending Review 2015: Housing set to dominate – as well as what time it starts, how to watch it and what will be in it November 25, 2015 Later today George Osborne will take to the despatch box to give his combined Autumn Statement and Comprehensive Spending Review. George Osborne has already tweeted the front cover of the document, saying it will "deliver economic and national security – the foundations of everything we do". Today's Spending Review will deliver economic and national security – the [...]
Seven out of ten London businesses are in favour of National Living Wage, compared to six out of ten overall November 25, 2015 Seven out of ten (71 per cent) businesses in London are in favour of the National Living Wage, according to figures shown exclusively to City A.M. by Group Risk Development (GRiD). By comparison, in a survey released earlier by the GRiD, only 62 per cent of businesses across the UK as a whole were fond [...]
Dodgy deals down the pub have created a black market worth £1.5bn November 25, 2015 More than 5m Brits have purchased goods from shady traders in licensed premises, such as pubs and bars, generating a black market worth £1.5bn. According to research released today from Churchill Home Insurance, 14 per cent of pubs have discovered unlicensed traders selling goods on their premises in the last year. However, those found selling shady [...]
Chinese insurers to splurge $73bn on real estate November 25, 2015 Chinese insurers could splash out as much as $73bn (£48.4bn) on the global real estate market by 2019, new research shows, as companies look to protect themselves from volatile equity markets and take advantage of relaxed rules on overseas investment. According to Cushman & Wakefield, top insurance companies in China had just 0.8 per cent of [...]
These are the biggest mergers that have made 2015 a record-breaking year for global M&A, worth $4.2 trillion November 24, 2015 Yesterday's $160bn merger between Viagra-maker and Allergan, which makes Botox, helped the value of 2015 deals to grow to $4.2 trillion (£2.8 trillion) – an all-time record high. But Pfizer's merger is just one of many eye-watering deals that have made 2015 the year of the mega-deal. In fact, five deals from 2015 make it in to the top 20 deals [...]
Autumn Statement 2015: What do free marketeers want from chancellor George Osborne and what do they think they’ll get? November 24, 2015 True to chancellor George Osborne’s record, tomorrow’s Autumn Statement promises to be a highly politicised event and one that has been mired by recent events including the Paris attacks, borrowing figures and controversy around cuts to tax credits, departments, services and welfare. Forgetting the political theatre, just what do free marketeers want from this Budget? Tax credits Let's [...]
Carl Icahn just bought a seven per cent stake in Xerox, sending the struggling printer company’s share price soaring November 23, 2015 Carl Icahn just bought a seven per cent stake in Xerox, the billionaire investor revealed late this evening. Xerox shares leapt over 10 per cent on the news that Icahn had bought 8.2m Xerox shares for $86.5m, according to a filing with the US Securities and Exchange Commission. Calling the shares “undervalued”, Icahn said in [...]