City of London elects veteran financier as next Lord Mayor September 30, 2024 A financial services and asset management veteran has been elected as the 696th Lord Mayor of the City of London, and will take up his post in November. Alderman Alastair King will serve as the Square Mile’s global ambassador, taking up the historic role on 8 November, succeeding Professor Michael Mainelli. King will assume his [...]
Leon: Restaurant chain’s loss-making streak continues amid Asda takeover September 30, 2024 Restaurant chain Leon lost almost £20m in the year it was sold by the billionaire Issa brothers to Asda, it has been revealed. The company had been purchased by the brothers’ Lancashire-based EG Group in 2021 before most of the group’s UK operations were sold to the supermarket giant for £2bn in October 2023. At [...]
UK growth revised down to 0.5 per cent in second quarter September 30, 2024 Liz McKeown, ONS director of economic statistics, said the updated figures included new survey data, VAT returns and updated information about the size of different industries.
Can Asos fight back against Shein and Temu in the market it once dominated? September 30, 2024 To say that investors have lost confidence in Asos may be something of an understatement: its share price has plummeted since April 2021, to the tune of about 90 per cent. The stock resembles a playground slide, dotted with small cliffs that correspond to profit warnings, news of a slump in sales, or lowered guidance. [...]
Clearbank eyes flurry of new products amid ‘huge demand’ for fintech September 30, 2024 ClearBank is eyeing up a string of new business lines after hitting profitability and taking its first steps towards international expansion.
Blackstone: Private equity giant backs £10bn AI data centre deal in UK September 26, 2024 Private equity giant Blackstone has injected £10bn into the UK to build one of the largest artificial intelligence data centres in Europe. The investment will build a data centre in Blyth, in the north east of England, creating more than 4,000 jobs. Construction of the site is expected to begin next year. It comes after [...]
Prezzo poaches Brewdog’s James Brown to lead the recovering restaurant chain September 26, 2024 Prezzo has appointed Brewdog’s James Brown as chief executive of the restaurant chain in the latest part of its ambitious post-collapse turnaround plan. Brown served as chief of Brewdog Bars and helped the brand grow from 18 sites to 135 globally. He has held several senior leadership roles at the company since 2015. The bar [...]
Schroders names new finance chief and elevates investment boss to board September 26, 2024 Schroders has named a new chief financial officer and elevated its chief investment officer to the board in the FTSE 100 asset manager’s latest leadership reshuffle. Meagen Burnett, currently the firm’s chief operating officer, is due to take over the CFO role from Richard Oldfield, who is preparing to succeed outgoing chief executive Peter Harrison. [...]
Mark Kleinman: Post Office needs a boss who can read the room September 26, 2024 Mark Kleinman is Sky News’ City Editor and is the man that gets the City talking in his weekly City AM column.
The Capitalist: Labour’s no-Party Conference; Rightmove’s drama Down Under; R.I.P. our dots September 26, 2024 Dispatches from Labour Party Conference, Rightmove's hopping executives, and more: catch up on the latest City gossip in The Capitalist.