City Moves: Who’s switching jobs in the Square Mile? September 16, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Bovill Financial regulation consultancy Bovill has appointed a Big Four director to head its wealth practice, covering financial planning, regulatory compliance and prudential obligations. Based in London, Matt Browne joins from PwC, where he was a director [...]
Brexit onslaught deepens as a third of all UK exporters to EU vanish due to red tape knockout September 15, 2022 The number of UK businesses exporting goods to the EU fell 33 per cent to 18,357 in 2021, from 27,321 in 2020, according to data from HMRC. Discussing the figures with City A.M., Michelle Dale, a senior manager at accountancy firm UHY Hacker Young, pointed out the fall is due to the extra red tape [...]
Keystone Law ready to poach lawyers hit by downturn, firm chief James Knight says September 15, 2022 Keystone Law’s head has said the listed law firm is readying itself to profit on the looming economic downturn, with a view to poaching lawyers laid off from other firms. Speaking to City A.M. Keystone chief executive James Knight said the remote-first law firm is ready to pick up those lawyers facing heightened pressure to [...]
John Lewis posts £92m loss after ‘unprecedented cost inflation’ September 15, 2022 John Lewis Partnership has posted a £92m loss before tax, blaming shoppers spending less due to inflationary pressures in the first half of the year. This was versus a £69m profit compared to the same period last year, although the partnership said on Thursday it was “not unusual for us” to make a loss in [...]
Zara owner Inditex admits further price increases are on the way September 14, 2022 Zara owner Inditex has admitted it plans to increase prices again this autumn, as it battles elevated headwinds. It comes as clothes shoppers are facing their own constraints on discretionary spending as household bills rocket. Europe’s largest fashion retailer will boost prices in the second half of the year, its chief financial officer Ignacio Fernandez [...]
Nervous Kremlin faces growing efforts from all sides within Russia to topple Putin as coup rumours swell in Moscow September 14, 2022 Staunch Putin loyalist Kadyrov criticizes Kremlin on Telegram Lawmakers in St Petersburg urge parliament to prosecute Putin for treason Lawmakers in Moscow call for imminent Putin removal Tensions between Kremlin and security service FSB growing fast Social media activity in Russia in overdrive Analysts convinced Kremlin coup may be imminent ‘Siloviki’ group of former FSB [...]
City Moves: Who’s switching jobs in the Square Mile? September 14, 2022 City A.M.’s Millie Turner provides a roundup of the most important hires and job moves across the City, every morning. Email citymoves@cityam.com to be featured. Orrick Law firm Orrick has posted a fresh partner into its fintech team, focused on providing regulatory counsel on payment services, e-money issuers, crypto-asset issuers, wallets and exchanges. Dan Jones, based in London, joins from US law [...]
Working out well: Third Space eyes suburban locations for expansion pipeline September 14, 2022 Luxury health club brand Third Space is eyeing more locations in suburban areas, as opposed to in office hotspots, its CEO has told City A.M. Third Space offers members “a combination of expertise and luxury” and caters to “fitness savvy enthusiasts” as opposed to “first timers”, with members who “like the finer things in life,” [...]
Sports Direct owner Frasers makes re-entry into FTSE 100 September 13, 2022 Sports Direct owner Frasers has made a return to the London Stock Exchange’s FTSE 100. The retailer re-joined the blue-chip index on Tuesday, according to its new chief executive officer Michael Murray. In a LinkedIn post, the CEO said the “significant milestone reflects the strength of our strategy and the strong performance that Frasers Group [...]
UK civil servants to have computers monitored to get people back to office September 13, 2022 Whitehall civil servants will have their computers monitored in a bid to get people back to the office permanently post-Covid. Civil servants in the Cabinet Office, which has around 2,700 staff, have been told that management will monitor how often they log on to their computers to track how much they work from home. It [...]