Bears are gathering to welcome bullish Boris July 7, 2019 Did the economy shrink in the second quarter of the year? While it is impossible to be sure, we will get another clue this week when the Office for National Statistics (ONS) publishes its GDP estimate for May – and so far, the signs are not good. Read more: Boris Johnson to crack down on [...]
Deutsche Bank investment chief quits ahead of shakeup July 5, 2019 Garth Ritchie, the head of Deutsche Bank’s investment banking arm, is leaving the German lender after 20 years, the bank said today. Read more: Deutsche bank poised to announce huge job losses on Monday The move comes as Deutsche prepares to significantly cut back its investment banking activities and axe 20,000 jobs across its global [...]
Legalising cannabis would be the ultimate Conservative policy July 5, 2019 What if you were in the running to be the next leader of the Conservatives, and I told you that with a single popular policy, you could return your party to its traditional pro-liberty roots, put the UK at the forefront of a new cutting-edge global industry, and inspire the millennial generation to vote Tory [...]
City Moves for 5 July – Who’s switching jobs? July 5, 2019 Today’s City Moves includes Axis Corporate, AB Dynamics and Aldermore. Axis Corporate Global management consulting firm Axis Corporate has appointed of Edward Armit as a senior consultant within its London office. Edward joins Axis Corporate from Capgemini where he was a consultant within the process optimisation team, part of the operations transformation practice. This role [...]
European Medicines Agency to sublet Canary Wharf HQ to Wework after High Court defeat July 4, 2019 The European Medicines Agency (EMA) is leasing its entire London office to fast-growing flexible space provider WeWork, having lost a court battle to cancel its £500m rent contract in the wake of its planned move to Amsterdam post-Brexit. Read more: Europe’s development bank lured into new Canary Wharf HQ WeWork is taking up the 284,000 [...]
George Osborne vying for top role at IMF July 4, 2019 George Osborne is mulling a bid to become the next head of the International Monetary Fund (IMF), according to reports, after its current managing director Christine Lagarde was tapped for the top job at the European Central Bank (ECB). Read more: IMF chief Christine Lagarde among surprise picks for EU top job Currently editor of [...]
Bank of Ireland sells UK credit card portfolio to London startup Jaja for £530m June 28, 2019 Bank of Ireland has agreed to sell its UK credit card portfolio to digital finance company Jaja Finance for a face-value fee of £530m. The company announced on Friday its decision to sell the portfolio of cards comprising the existing Bank of Ireland UK, the AA and Post Office-branded credit cards. Read more: London Capital [...]
At last, a sensible immigration plan – and it comes from Boris June 28, 2019 It is not often that I agree with Boris Johnson. But when the frontrunner to be the next Prime Minister announced his immigration proposals yesterday, for the first time in this leadership race I found myself on Team Boris. In a digital hustings, Boris revived an idea that he had trumpeted during the Vote Leave [...]
Pendragon CEO leaves after just three months in charge June 27, 2019 Car dealership Pendragon’s chief executive is stepping down less than three months into the job. Read more: Pendragon shares crash on ‘accelerating’ losses Mark Herbert will quit his post as CEO on 30 June by mutual agreement with the board, the firm advised today. Herbert, who only joined the company in April, was called a [...]
Pizza Express losses widen amid strain on casual dining sector June 26, 2019 Pizza Express has reported hefty losses for the full year as it battles with increased competition in the casual dining sector. The restaurant chain posted a loss of £55.8m in 2018, an increase of more than 40 per cent from £31.6m the previous year. Read more: China expansion and UK troubles take slice out of [...]