Beware fintech’s pivot to China April 12, 2016 Ever since former Barclays chief executive Antony Jenkins declared an ”Uber moment” for banks, the powers that be from the Square Mile to Canary Wharf have rushed to defend themselves against a herd of ambitious fintech unicorns. But if recent collaborations between financial titans and spritely startups are anything to go by, it appears the [...]
London’s biggest banks will struggle to reach sustained profitability due to bad debts and regulatory fines, IMF and KPMG warn April 14, 2016 A toxic mix of bad debts and regulatory fines will see some of London’s biggest banks struggle to reach sustained profitability, according to two major new reports from the International Monetary Fund (IMF) and KPMG. The hard-hitting reports have prompted city analysts to predict looming job cuts in the Square Mile and Canary Wharf, while [...]
EU referendum: BT chairman Mike Rake and Barclays chairman John McFarlane issue warnings over Brexit January 14, 2016 Two of Britain's top businessmen have warned that the City will be worse off if the UK leaves the EU. Mike Rake, chairman of BT Group and WorldPay, and Barclays chairman John McFarlane – who also chairs TheCityUK industry group – told Bloomberg TV today that Brexit would be bad for British business. "There has already [...]
From Michelin-starred restaurants to an exciting calendar of events, Macao has it all January 18, 2017 Travelling on business or for pleasure, Macao makes a perfect addition to a trip to Asia. Just 40 miles from Hong Kong, Macao’s potent mixture of Portuguese and Chinese heritage, refined over more than 500 years – it’s been a Special Administrative region of China since 1999 – makes for an exceptional getaway, where the [...]
EU referendum: Brexit battle is brewing within City of London Corporation as members call for neutrality in run-up to EU referendum February 25, 2016 The referendum on Britain’s European Union membership is threatening to tear apart an historic City institution, as members of the City of London Corporation dispute whether the Corporation should back the remain or leave campaigns. In an open letter published on Monday in City A.M., more than a dozen City grandees urged the Corporation to [...]
Aston Martin Vanquish S review: Lotus steal Matt Becker has transformed this model from glitzy to genius January 3, 2017 To make Aston Martin’s new models drive as beautifully as they look, CEO Dr Andy Palmer went to the company that makes some of the best-handling cars in the world: Lotus. There, he hired a genius called Matt Becker, who’s already helped deliver the divine new DB11. Now the first of Aston’s existing cars to [...]
The Big Bang 30 years on: How the City of London has changed since 1986 October 26, 2016 Nothing stands still in the City. The world's financial services powerhouse has seen it all, from boom and bust to bouncebacks and Brexit. Its skyline has changed almost beyond recognition over the last three decades, as have the markets it serves. As we mark the 30th anniversary of the so-called Big Bang, we cannot help [...]
Mapped: How much Londoners shell out for a shorter commute December 15, 2016 Many of us go into Zombie-mode first thing and would be keen to get some extra shut eye, but how much do people spend for the pleasure of a shorter commute? Londoners will pay on average an extra £6.60 a week in rent for every minute shaved off their travel time according to some analysis [...]
Don’t bother with Dry January – just open up a spreadsheet January 21, 2016 Dry January isn’t for everyone, and nowhere is this more true than the Square Mile. With networking events and working lunches taking place in Michelin starred eateries, it’s certainly tempting to sample the free wine going round the table. Perhaps London’s business brains should take a leaf out of one oil specialist’s book if they [...]
JP Morgan’s profit has dipped though it has still managed to beat analyst expectations in the first quarter April 13, 2016 JP Morgan has surprised investors with its latest results coming in ahead of expectations. Overall profits came in at $1.35 a per share, on revenue of $24.1bn (£16.92bn). Analysts were expecting earnings per share of $1.24 on revenue of $23.80bn, according to a Bloomberg poll. This time last year JP Morgan, the largest bank in [...]