Manchester United make David De Gea the highest paid goalkeeper in the world October 9, 2015 Less than two weeks after agreeing to sell him to Real Madrid, Manchester United have handed David De Gea a new four-year contract reportedly worth £200,000 per week. Read more: Why did David de Gea's Manchester United to Real Madrid move collapse? Sports lawyers explain The pay rise is worth £7m a year to the [...]
City jobs hit a peak: Financial services push employment boom to all time high October 9, 2015 Financial services are powering a dramatic boom in jobs growth, with employment in the City now at an all time high, according to a major new report. At the end of June this year there were a record 729,000 people employed in financial and professional services in London, a 2.2 per cent increase on 2014, [...]
Labour’s London mayoral candidate Sadiq Khan brands student visa rules ‘silly’ October 9, 2015 Labour's London mayoral candidate Sadiq Khan has called the government’s immigration policies for students “silly”, just days after home secretary Theresa May took a hard line against visas for postgraduates. In a speech at the Institute of Directors (IoD) yesterday, Khan said: “As mayor, I’ll stand up to the silly visa restrictions this government has placed [...]
City Moves for 09 October 2015 | Who’s switching jobs October 8, 2015 KNIGHT FRANK The property consultancy has announced the appointment of Rob Macnab as partner in its City leasing team. He joins from Kinney Green, where he was an equity partner specialising in the midtown office market. Macnab has worked for clients including O&H Group, Aberdeen Asset Management and DTZ IM. AXA INVESTMENT MANAGERS Tom Clapham [...]
Value of European IPOs in 2015 drops following Chinese stock market crash October 8, 2015 Flotations on Europe’s stock markets raised 30 per cent less money in the third quarter than the same time last year, according to PwC, although the accountancy firm predicts a pick-up in activity before the year-end. China’s August stock market crash sent jitters across the globe, prompted businesses to put their listing plans on ice, [...]
Best of the Brokers for 08 October 2015 October 8, 2015 To appear in Best of the Brokers, email your research to notes@cityam.com OLD MUTUAL Barclays upgraded the insurer from an “equal weight” rating to an “underweight” rating, noting that operations are “robust” across the firm;s key business units. The broker added that Old Mutual “offers attractive emerging market growth superior to most European peers, [...]
As the FCA and PRA bring in new whistleblowing rules, will more people come forward in the City? October 8, 2015 The Financial Conduct Authority (FCA), alongside the Prudential Regulation Authority (PRA), has published new rules, encouraging more whistleblowing in big financial firms. That’s good news – and should mean there’ll be greater awareness of whistleblowing. The burning question though is: will there be more disclosures? In 2013 the Parliamentary commission on banking standards had raised concerns [...]
Uber consultation: Why everyone should calm down over Transport for London’s minicab proposals October 7, 2015 When TfL announced a timely and entirely appropriate review of the regulations governing London's Private Hire Vehicles (minicabs to you and me) both the headline writers and spin doctors went into overdrive. Uber faces massive crackdown in London and Uber under threat in London we read. Uber's lavishly resourced communications team swung into action, ludicrously describing the proposals [...]
The new pension freedoms are transforming asset management October 6, 2015 The pensions freedom and choice agenda, announced at Budget 2014 and implemented in April this year, took fund managers by as much surprise as insurers. Eighteen months on, what can we see happening in the asset management world, as investment houses digest the implications? The biggest change in the new agenda was the final [...]
Foreign firms prey on British companies to exploit attractive investment environment October 6, 2015 Foreign firms have had UK companies in their sights this year as the robust British economy presents them with rare opportunities for growth in a weaker global economy. The value of inbound merger and acquisition (M&A) deals – foreign firms taking over British ones – reached $191.8bn (£126.6) in the year to the end of [...]