The City of London has elected the principal of a prestigious West London school as the new lord mayor September 29, 2016 The principal of a prestigious West London school is to become the next lord mayor of the City of London. Andrew Parmley will replace current lord mayor Jeffrey Mountevans from 11 November, with the lord mayor's show following the next day. Parmley is currently principal of the Harrodian School in Barnes, and has experience in [...]
Clear off: City of London steps up fight to retain euro clearing after expert warnings against “currency nationalism” February 22, 2017 High-profile regulators, politicians and financial experts have warned that any move by the European Union to force euro clearing out of London could have grave consequences for global economic stability. Sir Jon Cunliffe, the deputy governor of the Bank of England who supervises financial stability, hit out at “currency nationalism” on Wednesday, saying: “Such a policy if [...]
London Stock Exchange wins battle against activist investor Sir Chris Hohn December 19, 2017 The board of the London Stock Exchange (LSE) Group has resoundingly beaten off an attempt by activist investor Sir Chris Hohn to remove its chairman, winning a shareholder vote held today after a bitter public row over the departure of ex-chief executive Xavier Rolet. Some 79 per cent of votes cast by LSE shareholders backed [...]
The City of London’s newest skyscraper has just confirmed its first commercial tenant October 28, 2016 Times, they are a-changing: once, the Lloyd's Building was the City's tallest (and most recognisable) tower – now the Square Mile's skyline is rising faster than Donald Trump's legal bill. The latest addition to the City's skyscraper family is the Scalpel, aka 52 Lime Street. Although it isn't due to be completed until December next [...]
There will be a 30 per cent fall in property development activity in 2017 December 6, 2016 Commercial property development in the UK will slow substantially next year, Savills has warned, as lenders and borrowers seek to avoid taking any risks. The property firm said there will be a 30-40 per cent drop in development activity in 2017, with London being hit particularly hard. Read more: Risk of more pain for UK [...]
London houses now cost 14 times average earnings November 25, 2016 The house price to earnings ratio in London is now over 14 times. According to figures from Hometrack, the widening gap between supply and demand in the capital has pushed house prices up by 86 per cent since 2009. Read more: People are pretty confident house prices rose this month This means the ratio between [...]
The UK’s financial services sector paid more than £66bn in taxes last year – PwC and City of London Corporation December 4, 2015 New figures out today show that the financial services sector contributed more than £66bn in taxes last year, amounting to 11 per cent of total government tax receipts. A new report from the City of London Corporation and PwC, based on a survey of 48 of the Square Mile’s largest firms, reveals that the financial [...]
Deloitte bolsters digital offer with acquisition of design consultancy Market Gravity October 4, 2017 Global professional services firm Deloitte has bolstered its digital offering in Scotland with the purchase of Edinburgh-based design consultancy Market Gravity. Deloitte currently has three offices across Scotland, in Edinburgh, Glasgow, and Aberdeen. The firm employs around 600 people, with 32 partners and 56 directors among them, providing a full range of services to businesses [...]
The new lord mayor must look to the future November 14, 2016 The City now has its 689th lord mayor. On Saturday, Andrew Parmley donned the traditional finery and paraded through the City in the magnificent State Coach that has carried his predecessors every year since 1757. The Lord Mayor’s Parade is one the most public-facing elements of the City of London Corporation, which can lay claim to [...]
Sadiq Khan is vowing to take Downing Street to task over skilled workers November 30, 2016 Sadiq Khan will today accuse the government of failing to listen to fears that London's economy could be rocked if Brexit limits access to skilled workers from EU countries. London's mayor will tell the government to adopt a negotiating position that defends the interests of the city's businesses. If it does not, Khan says he will [...]