Ex-banker turned GoCardless president Paul Stoddart talks fintech, Brexit, pandemic recovery and Russia May 28, 2022 At the start of this month, Paul Stoddart jumped ship to become the president of the newly-minted fintech unicorn GoCardless. Stoddart, who describes himself as a “banker by trade,” spent years at Natwest, Barclays, and was most recently the chairman of Mastercard’s VocaLink. In an exclusive interview with City A.M., Stoddart said that joining GoCardless [...]
Post-Brexit and pandemic inquiry launched into labour market recovery as shortages ‘act as brake on prosperity’ May 27, 2022 A post-pandemic and Brexit recovery inquiry has been launched into the UK labour market as skills and worker shortages appear to have strained the recovery post-pandemic and Brexit. The Business, Energy and Industrial Strategy (BEIS) committee initiated the probe on Friday in wake of recently published figures by the Office for National Statistics, showing more [...]
The City View: Victoria Scholar on Sunak’s windfall tax and Cowgill exit May 26, 2022 Today Andy Silvester talks to Victoria Scholar, Head of Investment at Interactive Investor. They go through Rishi Sunak’s unveiling of a windfall tax today, the Fed’s plans to hike rates by 50 basis points in June and July, Elon Musk’s painfully slow acquisition of Twitter, and JD Sports founder and CEO Peter Cowgill’s shock departure [...]
Ted Baker slashes losses as consumers splash cash on party and office-wear once more May 26, 2022 Ted Baker has narrowed its losses as the fashion brand edges closer to a private equity takeover. The London-listed retailer posted a loss before tax of £44.1m, an improvement of 59.1 per cent, in preliminary results for the year ended 29 January 2022. Ted Baker had suffered a £107.7m loss the year prior, after pandemic [...]
Exclusive: Unprecedented war for talent reflects a seismic shift in power on Britain’s hyper-aggressive job market May 26, 2022 Britain’s jobless rate has fallen to its lowest level for over 47 years. In fact, for the first time ever, there are fewer unemployed people than job vacancies. This is resulting in an unprecedented ‘war for talent’ and an unprecedented wave of pay hikes, but what does this actually look like for London’s business community? [...]
City Moves: Who’s switching jobs in the Square Mile? May 26, 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. Vue International Cinema operator Vue International has poached its new chief operating officer (COO) from fashion retailer Urban Outfitters. Claire Arksey, who has previously held senior operational roles at Superdry, Reiss and Ted Baker, oversaw nearly 270 stores [...]
Glossier founder steps down as CEO from $1.8bn Gen-Z beloved beauty firm May 25, 2022 Glossier’s founder is to step down from her role as CEO of the $1.8bn beauty company. Emily Weiss said she will stay on as the company’s executive chairwoman, after founding the business in 2014. In this role, Weiss said she will focus on “supporting our brilliant leaders of creative, brand, product and retail, as they [...]
British Land unveils £3.6bn green neighbourhood project for Canada Water May 25, 2022 British Land, one of the UK’s largest property developers, has today unveiled a £3.6bn plan to build a 53-acre town centre in Canada Water alongside Aussie pensions giant AustralianSuper. The regeneration project will include up to 3,000 new homes, as well as more office space – which expected to host 20,000 workers amid London’s post-pandemic [...]
The City View: Crossrail finally arrives May 24, 2022 Today Andy Silvester talks to Adam Tyndall, Programme Director for Connectivity at London First. They talk all things Crossrail — from the first idea of an East-West railway in the 19th century, to the funding behind the Elizabeth Line, and to the future of London’s transport system. And in other news — Shell’s AGM was [...]
There is a fundamental flaw in the crypto economy May 24, 2022 VJ Angelo, CEO of Inspira Wealth, highlights cryptocurrency's main flaw - with some good news and bad news.