Square Mile and Me: Hemlata Narasimhan on what makes the City tick August 8, 2024 Each week we ask a Square Mile exec to take a trip down memory lane. Today, Hemlata Narasimhan, president of Elavon Europe, talks about cultural vibrancy and inspiring girls to dream big What was your first job? My very first job was a college job when I worked as a maths tutor to high school children [...]
Reeves: UK pension funds should follow Canadian model to ‘unlock billions’ August 7, 2024 Rachel Reeves wants UK pension funds to “unlock billions” in investment and deliver for British savers by following the Canadian model.
Disney hikes prices of its streaming services as profit booms August 7, 2024 Disney beat expectations in its third quarter revenue and earnings, swinging back from heavy losses as it hiked its streaming services prices. Pre-tax profit soared to $3.1bn (£2.4bn) in the third quarter, up from losses of $134m (£105m) the previous year. The company’s streaming business turned profitable for the first time, buoyed by the success [...]
Glencore: FTSE 100 mining giant opts against coal spin-off after investor feedback August 7, 2024 Glencore no longer plans to demerge its coal business after an “overwhelming majority” of shareholders told the mining giant to retain the division. The FTSE 100 constituent had planned to spin off its coal business after it completed the $7bn (£5.51bn) acquisition of Teck Resources’ steelmaking coal business in November last year. However, on Wednesday, [...]
FCA joins Bank of England in relocating jobs from London to Leeds August 7, 2024 The Financial Conduct Authority (FCA) has revealed plans to relocate 100 jobs from London to Leeds, just months after the Bank of England announced a similar move. The watchdog, which established its first office in Leeds two years ago, is growing its team at the digital delivery centre on Queen Street, where around 100 employees [...]
Businesses urge Starmer and Reeves to put NHS and absenteeism top of ‘policy wishlist’ August 7, 2024 Business leaders have stressed their top priority for the Labour government is to focus on strengthening the NHS, a survey of bosses has found.
Flight to quality gets underway as half of London offices set to be ‘unlettable’ by 2027 August 7, 2024 Changes to energy efficiency requirements mean that a majority of office spaces in the capital won’t meet the minimum standard for leasing within the next four years, making it a race to re-fit before 2027. Minimum energy efficiency standards (MEES) currently require that rented commercial properties in England and Wales have a minimum EPC rating [...]
Blackstone chief Steve Schwarzman’s NIMBY problem: Newts in My Backyard August 7, 2024 In his day job as Blackstone’s chief executive, Stephen Schwarzman is used to dealing with slimy adversaries conspiring to prevent him from getting his way. But now the private equity boss is facing a similar problem in a more personal capacity, after the potential presence of an endangered species of newt has prevented him from [...]
Volvo: Record-breaking year for car maker as UK sales near £2bn August 7, 2024 Volvo's UK sales jumped closer to the £2bn mark after another record-breaking year, it has been revealed in newly filed accounts.
Harland & Wolff: Departing chief of Titanic shipbuilder issues parting shot as collapse averted August 7, 2024 The former chief executive of Titanic shipbuilder Harland & Wolff has issued a parting shot in his first comments after being ousted from his role. John Wood took to social media today after officially stepping down from his position on August 1. He had not been involved in the day-to-day running of the company since [...]