HSBC investors back mooted move from UK November 23, 2015 Major HSBC shareholders have said they would back the bank if it were to relocate away from London. HSBC announced earlier this year it was currently reviewing whether it would remain in the UK, with Hong Kong and the US widely regarded as possible options. A spokesperson for Aberdeen Asset Management, one of HSBC’s top 10 [...]
Rapha co-founder and chief executive Simon Mottram on why the cycling company split from Team Sky April 4, 2017 Four years ago niche cycling sportswear firm Rapha beat German behemoth Adidas to supply the kit to the world’s best known cycling club, Team Sky. At the time, Simon Mottram, its chief executive and co-founder, felt this was the just the platform the retailer needed to take things up a gear. “We sold a lot [...]
Why a red tape bonfire won’t help fintech: The FCA’s Christopher Woolard talks to City A.M. about regulation testing March 20, 2017 Regulation arguably doesn’t have the best reputation in the cutting-edge tech sector. Critics slam red tape for stifling creativity, while the regulators themselves get stick for failing to keep pace with ever-changing markets. This contempt creates dilemmas in the field of fintech, an industry which melds the fast-paced world of technology with the highly-regulated field [...]
The pound’s fall is pushing the FTSE 100 towards its best day since Trump’s election December 7, 2016 Healthy gains for banking and mining stocks and a sharp downturn in the pound are driving the UK’s FTSE 100 index to its best performance since Donald Trump's election victory last month. The index had gained over 91 points (a rise of 1.35 per cent) at the time of writing to reach 6,871.29. Banks stocks shared in [...]
We’re staying: HSBC decides to keep its headquarters in London, UK, after an “exhaustive” review process that narrowed it down to the capital and Hong Kong February 15, 2016 Global banking giant HSBC revealed late last night that it has decided to keep its headquarters in London, ending months of uncertainty over whether it would quit the UK and move to a rival financial centre. A statement from the bank called the UK an “important and globally connected economy”, with “an internationally respected regulatory framework [...]
A third of City workers reckon their employers might move abroad because of Brexit November 25, 2016 A third of City workers reckon say their employers might be planning to relocate after the Brexit vote, a new study has found. The survey, by Morgan McKinley, found 31 per cent of those in the Square Mile believe their bosses either definitely are or might be moving parts of their business abroad. Just under [...]
Goldman Sachs holds onto its commodities crown September 23, 2016 Goldman Sachs is still king of the investment banks when it comes to commodities trading. Data from analytics firm Coalition showed that the Wall Street stalwart made the most money from trading commodities such as oil, coal and metals after coming top in the past two years, Bloomberg reported. JP Morgan and Citigroup took second and third place [...]
City firms look to take part in Saudi Arabia’s multi-billion pound transformation plan November 28, 2016 Leading City banking, law and project management firms are meeting in Saudi Arabia today as they weigh up whether to take part in the country's National Transformation Programme. The programme, which will reduce Saudi Arabia's dependence on oil and move towards a diverse economy by 2030, is expected to generate $267bn per year in business opportunities. [...]
London is the world’s greatest city because it’s both a cultural and business powerhouse January 9, 2017 "You find no man, at all intellectual, who is willing to leave London. No, Sir, when a man is tired of London, he is tired of life; for there is in London all that life can afford.” This famous quotation by British poet Samuel Johnson still holds true about our great city some 240 years later. London [...]
Four facts about Fintech Connect 2016 you need to know December 2, 2016 Are you a fintech pro? Then you'll know 2016 has been a year that keeps on giving where events are concerned. If you’re going to Fintech Connect Live this week, you’re sure of a big surprise: it promises to be bigger than ever. Why? Because every second you’re there, £634 will be made in fintech in the [...]