Johnson’s successor has a chance to rekindle the relationship with City Hall July 12, 2022 Transport Secretary Grant Shapps – now a contender to be the next prime minister – wrote to the Mayor three weeks ago regarding the future funding of Transport for London (TfL). His letter included a call to reset strained relations between City Hall and the government. Last week’s events were probably not quite the reset [...]
Investors strap themselves to real estate debt, pouring £590m into BNP Paribas fund July 11, 2022 Investors have poured more than €700m (£592m) into BNP Paribas’ second senior commercial real estate debt fund. The French asset management giant sailed passed its €500m (£423m) target, with investors keen to strap themselves to sturdy funds with a record of navigating financial crises, such as the pandemic. The second fund has snagged more than [...]
Staff walk out at 114 Crown Post Offices today over worker pay July 11, 2022 Over one hundred Crown Post Offices will be disrupted by strikes today after workers voted in favour of a staff walk out over pay.The industrial action of 1,500 staff will cause “considerable delays” for consumers, the Communications Workers Union (CWU) said. Union members rejected a pay offer by the Post Office, which the union said [...]
Downfall of a Prime Minister: How handling of Chris Pincher scandal spiralled into Boris Johnson’s worst crisis July 10, 2022 An isolated Boris Johnson has agreed to leave Downing Street this September – following haemorrhaging support across the Tory ranks in the wake of the Chris Pincher scandal. The Prime Minister announced his resignation yesterday. After a dramatic wave of Government resignations this week and a slew of former allies withdrew their backing his political [...]
The cost of living crisis won’t wait – we need a caretaker PM who can deliver stability July 8, 2022 So the farce is over. The term has rarely been more apt after the Education Secretary, one of three in that post this week, resigned in protest of the prime minister who had appointed her a little over 36 hours prior. Indeed, the resignations were happening at such a swift pace, you would be hard [...]
LIVE BLOG: Boris Johnson ‘should not remain in Downing Street’ says former PM Sir John Major July 7, 2022 Welcome to City A.M.’s rolling coverage of the ongoing Conservative coup against prime minister Boris Johnson. We’ll bring you all the latest news, resignations, appointments, analysis and opinion, as well as the impact of the crisis on the markets and economy. 2pm – Former PM Sir John Major says Boris Johnson “should not remain in [...]
Former Skyscanner chief becomes Scotland’s very first chief entrepreneur officer July 7, 2022 Mark Logan, a former Skyscanner chief operating officer, has been appointed as Scotland’s first chief entrepreneurial officer. The two-year post will mean Mr Logan will be a senior adviser to the start-up nation programme, which was set up to deliver the entrepreneurial recommendations in the Government’s recent 10-year economic strategy. The appointment was announced by [...]
Isolated Boris Johnson agrees to resign TODAY after all PM’s key ministers flee Downing Street July 7, 2022 Multiple sources are confirming Boris Johnson has agreed to stand down today. He will stay on as caretaker leader until new Tory leader elected this autumn. He will make a statement later today. The Prime Minister rejected calls to quit yesterday and dramatically sacked Cabinet rival Michael Gove, but was later hit with the departure [...]
Finding opportunities in stagflationary times July 7, 2022 Slowing growth and rising inflation is a negative combination for both equity and bond markets. Nevertheless, there are opportunities emerging for global equity investors. This has been a challenging year for equities. Russia’s invasion of Ukraine has led to soaring energy and commodity prices, a global stock market slump and elevated volatility. Recession appears likely, [...]
Merciless verdict: ‘Mortally wounded’ Boris Johnson urged to leave Downing Street ‘with dignity’ July 7, 2022 If Boris Johnson picks up any of the papers this morning, it does not make fine reading for the Prime Minister as he is encouraged by almost all of the papers to abandon his attempts to save his premiership. The overall mood amid resignations and potential leadership challenges is best summarised by The Times’ leading [...]