Investment banking giant JP Morgan is actually encouraging its workers to take time off – and fast-tracking January 21, 2016 Investment banking: it's not usually associated with a softly, softly approach when it comes to HR. But that's all about to change – after a new policy introduced by US giant JP Morgan means workers will be encouraged to take time off at weekends. The so-called Pencils Down initiative was designed to be "realistic to what this [...]
A gig economy inquiry by MPs hears a tale of two Uber drivers February 6, 2017 Uber drivers have given evidence to MPs scrutinising the rise of the gig economy and its implications for workers, painting two very different pictures of their experience with the company. "There is no flexibility," said Uber driver David Dunn, giving evidence to the work and pensions committee chaired by Frank Field, who last year accused Uber of treating its drivers [...]
Economists need to start playing catch-up – here’s why January 9, 2017 Last week was something of a cathartic one for the economics profession, as the Bank of England’s chief economist, Andy Haldane, conceded that those who engage in forecasting need to adapt to regain the trust of politicians and the public. Since last summer’s referendum, experts from the OECD, IMF, Bank of England and the Treasury [...]
London Stock Exchange enters into exclusive talks with Euronext over sale of French clearing business December 20, 2016 The London Stock Exchange Group has entered into exclusive discussions with rival Euronext over the sale of its French clearing business. And the deal for LCH SA, which could be crucial to the success of the London Stock Exchange’s mega-merger with Deutsche Boerse, could still be agreed this side of Christmas, City A.M. understands. The London Stock [...]
Former chancellor George Osborne set for role at world’s biggest asset manager, BlackRock January 20, 2017 Former chancellor George Osborne is set to take a job at BlackRock, the world’s biggest asset manager. The company has announced Osborne will join as a part-time senior advisor to the BlackRock Investment Institute, a research arm of the asset manager. Osborne will start on 1 February with a role focused on European politics, China's economy, [...]
Barclays boss: London will continue to be the “financial lungs” of Europe post-Brexit January 19, 2017 The boss of one of the UK's biggest banks has today come out fighting for the City's post-Brexit status, likening London to an essential organ for the continent's financial health. "I don't believe that the European finances system, our centre, will leave the City of London," Jes Staley, chief executive of Barclays told the BBC in [...]
Thousands of City jobs at risk as US banks issue Brexit relocation warning September 24, 2016 Thousands of City jobs are at risk after a string of US investment banks reportedly warned Prime Minister Theresa May that they could preemptively move their operations out of the UK. The bank bosses are said to have delivered the warning at a round-table with the Prime Minister and a host of key US investors in New York [...]
HOLD: Hands off interest rates, City A.M.’s Shadow MPC tells Bank of England’s Monetary Policy Committee March 15, 2017 Economists expect the Bank of England to leave monetary policy unchanged at tomorrow’s meeting of senior policymakers, but pressure is slowly growing to begin pushing monetary policy back to more normal levels. City A.M.’s Shadow Monetary Policy Committee (MPC) voted in favour of keeping policy unchanged, but added another dissenter since February's meeting pushing for [...]
Bonds losing appeal as inflation set to pounce October 10, 2016 Yields on UK government debt have hit their highest level since the EU referendum as inflation fears grow and the pound remains under pressure. The benchmark 10-year bond now comes with a yield of more than one per cent in the UK, after hitting a record low of 0.52 per cent over the summer as [...]
Wall Street banks lead bonus charge as European lenders set to row back on mega payouts January 4, 2017 Top dealmakers at Wall Street’s banking titans are expected to take home the lion’s share of this year’s payouts as the split between bonus season winners and losers becomes more pronounced. Next week, the bonus season will kick off in earnest when Wall Street heavyweights JP Morgan and Bank of America report full-year results. “US banks [...]