Hong Kong ousting over 50 opposition councillors ‘deeply concerning’, says Truss October 21, 2021 Hong Kong’s home affairs chief has unseated another 16 opposition district councillors today, bringing the total ousted local politicians to more than 50. Newly appointed foreign secretary Liz Truss has condemned the actions, calling the move “deeply concerning”, as the political climate in the former British colony remains unstable. “It is deeply concerning that 55 [...]
Ericsson to make further reductions in China after Q3 results October 20, 2021 The Swedish telecommunications company plans to reduce its operations in China after suffering a fall in sales post Huawei ban, as well as ongoing supply chain disruptions.
Burberry names Gianni Versace boss Jonathan Akeroyd as its new CEO October 20, 2021 Fashion group Burberry has named Gianni Versace boss Jonathan Akeroyd as its new chief executive. Akeroyd, 54, will take up the post on April 1 next year. The British national has headed up Milan-based fashion house Gianni Versace since 2016, before which he was chief executive of Alexander McQueen for 12 years. He replaces Marco [...]
The future of work in a post-Covid investment industry October 19, 2021 Disruptions resulting from Covid-19 have forced businesses to adapt and create new models of work. Although some industries may return to something resembling their pre-pandemic operating model, the investment industry has already crossed a threshold. That is the view of Kunal Kapoor, CFA, who participated in a webinar entitled ‘The War for Talent and the [...]
City Moves: Who’s switching jobs in the Square Mile today? October 19, 2021 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. Azets Accountancy and business advisory services Azets has promoted Naomi Wells to Tax Partner. After joining the firm in 2015, Wells has been promoted several times, including to Associate Director in January. The appointment is one of [...]
City pay packets bulge as firms hike wages to lure talent October 18, 2021 Pay packets in the City are bulging as competition for talent heats up amid the post-pandemic rebound. Finance firms are hiking pay in a bid to lure workers away from their current employer, research by professional services recruiter Morgan McKinley found. Workers moving from one company to another netted on average a 22 per cent [...]
Exclusive: UK set to keep EU cap on bankers’ bonuses post-Brexit October 14, 2021 The UK is set to keep the EU’s cap on bankers’ bonuses, with the Treasury instead focussed on a range of other measures to shake up financial services regulation post-Brexit. Treasury sources say the measure is not even being discussed by chancellor Rishi Sunak and that it will not be scrapped any time soon. The [...]
UK railways prepare for 2m passenger slump as budget cuts loom October 13, 2021 UK railways are preparing for a 2 million passenger fall as, post-Covid commuting patterns have changed, prompting rail companies to start swinging the axe on jobs. Forecasts prepared by the railway industry’s Covid forecasting group for Network Rail highlighted that, in the worst case scenario, numbers will only go up to 60 per cent of [...]
Momentum falters for Bitcoin but alts show fresh signs of life October 13, 2021 Bitcoin’s buoyant start to October is showing signs of flagging, with the price dropping more than four per cent over the past 24 hours from more than $57k to around $55k this morning.
Return to growth fails to lift FTSE 100 as investors brace for BoE rate hike October 13, 2021 A return to economic growth in the UK was not enough to lift the FTSE 100 this morning as investors mulled whether the upbeat data would push the Bank of England to hike rates this year. The capital’s premier index dipped 0.45 per cent to 7,098.19 points. The UK economy grew 0.4 per cent in [...]