Broker TP Icap is in talks with European regulators to potentially shift from London post-Brexit, as shares sink on weak results March 13, 2018 TP Icap, the world’s largest interdealer broker, has revealed today that it is in talks with a number of European financial regulators about moving its “EU trading hub” from London post-Brexit. The firm, which matches buyers and sellers in financial, energy and commodities markets, promised in its full-year results that it would “do what is [...]
Darktrace’s bright future: The CEO behind the company tipped to be the UK’s next tech unicorn March 12, 2018 In the heart of London, in the middle of the Strand, the office of Darktrace sits almost like a fortress; a sea of calm in the chaos and uncertainty that reigns in every global city. From here, maths whizzes and former intelligence officers have helped build a product sought after by multi-billion pound companies keen [...]
GKN boss Anne Stevens evades questions on whether job numbers will grow as MPs grill GKN and Melrose execs March 6, 2018 Top executives at beleaguered engineering giant GKN refused to confirm whether the firm would create more jobs if Melrose failed in its £7.4bn hostile bid. When grilled by a committee of MPs, GKN’s chief executive Anne Stevens said she expected the company to keep growing. Yet Stevens declined to directly confirm whether she saw Melrose [...]
Last Week in the City: Trump threatens trade war March 2, 2018 This week US President Donald Trump threatened a trade war, a number of famous high street names, including Toys R Us and Maplin, got into serious trading trouble and upbeat assessments of the US economy from central bankers helped the US dollar to rally, reversing its recent trend. The FTSE 100 fell 0.2 per cent [...]
EU nationals arriving to the UK during Brexit transition period can stay, says government February 28, 2018 EU nationals who come to the UK during the post-Brexit transition period, after March 2019, will be offered the choice to settle, the government has said. Following the European Commission’s publication of its draft withdrawal treaty this morning, the UK government said in a policy paper that any new arrivals to the UK from around [...]
As the Brexit negotiations continue, it’s time for the City’s Leave voters to stand up February 19, 2018 Most people working in the City and the broader field of financial and professionals services supported Remain in the June 2016 referendum. There isn’t much City-specific polling to back this up, but since possessing a degree, living in London and working in a profession are all demographic attributes associated with an increased likelihood to have [...]
Amazon is launching a shipping company to compete with UPS and FedEx February 9, 2018 Online retail giant Amazon is branching out and launching a shipping business, placing it in direct competition with the likes of UPS and FedEx. According to the Wall Street Journal, Shipping with Amazon (SWA) will pick up packages from businesses and ship them to consumers. The group is expected to roll out the new delivery [...]
Ranked: Here are the 20 wealthiest people in cryptocurrency revealed by Forbes’ first ever Crypto Rich List February 7, 2018 Forbes has compiled its first ever Crypto Rich List to rank the 20 wealthiest people in crypto, saying billion-dollar fortunes have been created almost overnight. Top of the list is Ripple founder Chris Larsen, with Forbes saying his net worth came close to $20bn in early January, as a result of owning 5.2bn XRP – [...]
Immigration white paper delayed until ‘the time is right’, says minister February 5, 2018 The government has been attacked for shelving its white paper on immigration, just weeks after it put off plans for similar work on financial services. Home Office minister Caroline Nokes today gave no clarification on when a paper would be published, saying only that it would be made public "in the coming months, when the [...]
Boss of British Airways owner IAG Willie Walsh urges end to delay on 10-year Chinese visas to boost post-Brexit ties January 29, 2018 Willie Walsh has written to home secretary Amber Rudd saying it needs to be easier for Chinese visitors to visit the UK, warning that Britain will miss out on the economic boost brought from Chinese investment and affluent tourists. The boss of British Airways parent firm IAG has urged the government to introduce a new [...]