City minister Simon Kirby loses Brexit responsibilities to Treasury peer March 2, 2017 City minister Simon Kirby has seen his responsibilities for Brexit handed to Baroness Neville-Rolfe. Kirby was handed the role of economic secretary to the Treasury after the Brexit vote when May came to power. The Treasury has stressed that Kirby's remit remains the same as his predecessors, with the added Brexit work hived off to commercial secretary Neville-Rolfe. Neville-Rolfe [...]
American brand Under Armour in talks to buy French Connection Oxford Street store January 29, 2017 American sportswear brand Under Armour is reportedly in talks to take over French Connection's flagship London store on Oxford Street. British retailer French Connection has been seeking a sale of the building as part of a turnaround plan, according to The Sunday Telegraph. The troubled retailer has been under pressure from activist investors to change [...]
With reports Barclays has chosen Dublin for its EU HQ, will Ireland be the beneficiary of any City Brexodus? January 30, 2017 Daniel Mahoney, head of economic research at the Centre for Policy Studies, says Yes. Although Theresa May has provided a degree of clarity on the Brexit negotiations, remaining uncertainties mean that financial service firms will, inevitably, seek to implement some restructuring and contingency planning. Ireland is well placed to take advantage of this. Ireland shares [...]
Deliveroo’s testing an Amazon Prime-style delivery subscription January 19, 2017 Deliveroo is testing out a new feature which has echoes of Amazon Prime – hungry users of the food delivery app can pay a subscription fee rather than a charge on each individual order. Deliveroo Plus will be tested out across six UK cities with customers paying an annual fee of £89, or a monthly fee of [...]
Financial adviser DeVere Group launches new private bank January 23, 2017 Those looking for a place to stash their cash have a new option, with financial consultants DeVere Group today launching a private bank. DeVere Group Bank St Lucia, which the group understands to be the first private bank to be independently owned by a financial advisory firm, was created out of the firms acquisition of Arton Bank. DeVere snatched up [...]
British Airways launches new routes from Manchester Airport and London Stansted including Ibiza, Mykonos and Florence January 31, 2017 British Airways has announced the launch of seven new routes from Manchester Airport and three new destinations from Stansted. From May, the airline will start summer-only direct flights from Manchester to Alicante, Malaga, Ibiza, Palma, Mykonos, Nice and a weekly service to London City Airport. New flights from Stansted – part of the Manchester Airport [...]
City Moves for 13 February 2017 – who’s switching jobs? February 13, 2017 Today's City Moves cover legal eagles, hotels and a precious metal explorer. Take a look at these movers and shakers: Ashfords LLP National legal and professional services provider Ashfords LLP has appointed Jim Morris as a partner and head of the firm’s expert aviation team. Having previously worked for six years as the aviation partner [...]
Move over, suits – the new kids on the block are coming to the Square Mile March 16, 2017 Imagine you are the founder of the latest, cutting-edge tech startup. Perhaps you’ve been backed by a private equity firm, or an angel investor. You might have even got a good old-fashioned bank loan. Either way, you’ve graduated out of your parent’s basement and are on the hunt for an office you can call home. [...]
Bruce Carnegie-Brown recommended as Lloyd’s of London chair February 16, 2017 Bruce Carnegie-Brown is to be recommended as the next chairman for Lloyd's of London, the insurance market. A Lloyd's Council meeting is expected to be convened shortly, probably one day early next week, to ratify the decision. The Council has historically followed the recommendation of the Nominations Committee on important appointments. The appointment is also [...]
Heron Tower owners secure £400m refinancing deal April 28, 2016 The owners of the Heron Tower in the City have agreed a £400m refinancing deal with ING and German bank Landesbank Baden-Württemberg (LBBW). The two banks have jointly underwritten the five-year senior term loan in a deal believed to value the tower at around £720m. Law firm Baker & McKenzie advised the banks on the deal while Olswang acted for the [...]