Opponents to President Donald Trump’s travel ban have a reason to celebrate February 9, 2017 US President Donald Trump has been dealt a fresh blow, as the court-ordered suspension of his controversial executive order to ban passport-holders from seven majority-Muslim countries entering the US has been upheld. Following the ruling, Trump tweeted: “See you in court, the security of our nation is at stake.” A US federal appeals court has just unanimously upheld a [...]
Here’s how UK fintech’s rallying action in a post-Brexit no-man’s land July 10, 2016 London's fintech industry is rallying to action after the vote for Brexit in a bid to alleviate the fears of startups, along with their investors and supporters, over issues such as capital, market access and talent. The industry is already formulating a plan in the face of overwhelming uncertainty and a lack of clarification from political leaders on [...]
Spiking business rates will lead to an East London tech exodus February 23, 2017 Much has been written about the upcoming business rates revaluation and the significant additional burden that this will place on businesses, large and small. Comparatively little, however, has been said about the impact that this in turn will have on our town centres and business districts. Ultimately, business rates are a property tax rather than [...]
London mayoral election 2016: Labour grandee Lord Peter Mandelson urges business not to allow Zac Goldsmith to use City Hall to push the UK out of the EU April 25, 2016 The City and London’s wider business community has been urged by a Labour grandee not to allow Tory mayoral candidate Zac Goldsmith to “use City Hall as a vanguard for the Brexit campaign”. In his first intervention in the mayoral election, Lord Peter Mandelson exclusively told City A.M. that he wants to call on the business [...]
EU referendum: City of London draws up plans for independence in the event of Brexit April 1, 2016 The City of London Corporation is drawing up plans to declare the financial district an independent city-state in the event of Britain voting to leave the European Union. City A.M. understands that meetings have taken place in the crypt of the Guildhall – the ancient seat of City power – to examine the legal status [...]
London Stock Exchange hits back at claims City will lose out to Frankfurt after merger January 16, 2017 The London Stock Exchange Group has today hit back at the suggestion its merger with Deutsche Boerse will lead to Frankfurt snatching a large amount of business from the City. Research commissioned by the German exchange claimed the deal, which is currently being probed by the European Commission, would enable Deutsche Boerse to move billions [...]
HSBC chairman search: Former man from the Pru Mark Tucker will replace Douglas Flint March 12, 2017 Mark Tucker, chief executive and president of AIA and former boss of Prudential, has been confirmed as chairman of HSBC, marking the first time the bank has appointed an external chairman. Tucker will receive an annual fee of £1.5m and a one-time relocation benefit of £300,000 for moving from Hong Kong to London. He will take up [...]
City Moves for 7 February 2017 – who’s switching jobs? February 7, 2017 Today's City Moves cover cyber security, energy and tax. Take a look at these movers and shakers: PwC PwC has hired Kate Macmillan as a director in its rapidly expanding cyber security and data privacy legal team in London. Kate joins from Collyer Bristow with 20 years’ experience in data protection and privacy litigation, specialising [...]
Airbnb’s UK tax bill comes under scrutiny December 19, 2016 Airbnb's tax bill has come under scrutiny after it paid £317,000 in UK tax, despite London being the third biggest city from which the company offers rental accommodation. The tech business' international HQ is based in Ireland, but its payments division – Airbnb Payments UK – is based in London. This part of Airbnb handles the rental payments between [...]
Developers behind 22 Bishopsgate skyscraper win “rights to light” battle April 5, 2016 The developers behind City skyscraper 22 Bishopsgate have won a controversial battle with neighbouring landlords over the scheme blocking their "rights to light" after City planners used special powers to override opposition. Members of the City of London Corporation Planning & Transportation committee this morning voted overwhelmingly in favour of temporarily acquiring the site under a Section 237 agreement, so [...]