Southend airport owner Stobart’s broker Cenkos has resigned following a Woodford-backed boardroom row May 30, 2018 Stobart, the owner of London Southend Airport, has seen its broker resign this morning amid a heated boardroom battle. Broker Cenkos has stepped down as it is understood to have a long-standing relationship with Andrew Tinkler, the former boss of Stobart who is attempting to oust chairman Iain Ferguson. City A.M. understands that Cenkos did [...]
Chancellor Philip Hammond tells City a bespoke Brexit deal will be crafted for the UK financial services September 13, 2017 Chancellor Philip Hammond tonight told City grandees he will help craft a “bespoke deal” for the UK financial services sector in Brexit negotiations, as industry voices continue to call for greater clarity on the details of any proposed transitional period. In his speech to the UK Finance Annual Dinner at Mansion House tonight, Hammond set out [...]
City watchdog to reveal decision on Saudi Aramco listing category – six months late June 3, 2018 The Financial Conduct Authority (FCA) will this week unveil its decision on plans to offer a new listing category in a bid to attract Saudi’s massive oil company Aramco to list in the UK – six months later than initially planned. The City watchdog will announce its response to a consultation on a “premium listing” [...]
Brexit: Business and backbenchers to support Prime Minister Theresa May’s impasse-breaking divorce bill speech September 19, 2017 Theresa May will be backed by backbenchers and business if she broaches the issue of the Brexit divorce bill in a significant speech later this week. The Prime Minister, who is currently in Canada trying to secure a pre-Brexit agreement on future trading, will be in Florence later on Friday to deliver a critical intervention [...]
City of London Corporation warns Brexit threatens City’s international standing April 20, 2016 The City of London Corporation has sounded another warning over Brexit, this time regarding its impact on the City's role as an international financial centre. Speaking at a Brexit legal debate, Mark Boleat, policy chairman at the City of London Corporation, said UK-based financial institutions would lose access to the single market, while some would eventually consider relocating elsewhere in [...]
Frosty exchange between Michel Barnier and David Davis over Brexit divorce bill triggers alarm in City of London August 31, 2017 Deadlock over the size of the UK’s so-called Brexit bill has triggered fresh alarm in the City as fears grow that crucial talks on a new UK-EU trade and transition agreement will be shunted into next year. Bosses are warning that financial services firms will need to begin moving jobs and operations if they do [...]
Season finale: Sky takeover battle to be decided by dramatic weekend auction September 20, 2018 The stage is set for the hotly-contested battle for Sky to reach a dramatic conclusion when the bidding war is decided at a quick-fire auction on Saturday. Comcast will go head-to-head with Rupert Murdoch’s 21st Century Fox and Fox’s soon-to-be owner Disney in an auction that will price Sky at a minimum of £26bn. The [...]
Season finale: Sky takeover battle to be decided by dramatic weekend auction September 20, 2018 The stage is set for the hotly-contested battle for Sky to reach a dramatic conclusion when the bidding war is decided at a quick-fire auction on Saturday. Comcast will go head-to-head with Rupert Murdoch’s 21st Century Fox and Fox’s soon-to-be owner Disney in an auction that will price Sky at a minimum of £26bn. The [...]
Tech titans bed down in London: Why Brexit won’t be bringing about a ‘techxodus’ any time soon August 24, 2018 Brexit has generated investment uncertainty for many companies, but not – it would seem – for the US tech giants opening the throttle and splashing out on multi-million long-term property deals in London and creating thousands of jobs. Facebook, Google, Snap and Apple have firmly quashed the notion that the UK’s exit from the EU [...]
Vedanta share price tumbles after killing of protesters demanding closure of plant in Tamil Nadu, India May 25, 2018 UK metals and mining group Vedanta Resources is facing harsh criticism after 13 people were killed while protesting a copper smelter run by the company in India’s Tamil Nadu state. On Tuesday, police opened fire on protesters who were demanding that the smelter in the port city of Thoothukudi be shut down on environmental grounds. [...]