Unpredictable and punitive taxation is threatening the competitiveness of UK banking November 9, 2016 Winston Churchill famously claimed that “for a nation to try to tax itself into prosperity is like a man standing in a bucket and trying to lift himself up by the handle”. But for banking – Britain’s biggest export sector – the handle is still being pulled. New figures published today by the BBA show [...]
It’s time Britain stopped dancing to the tech giants’ tune January 11, 2017 Few tears were shed last summer at the plight of Apple Corporation, whose sweetheart deal with the Irish government was ruled unlawful by the European Union to the tune of a £11bn fine. Predictably, Eurosceptic voices were raised on this side of the Irish Sea relishing the day when the UK will no longer be subject [...]
Former Centrica boss Sam Laidlaw closing in on North Sea takeover November 20, 2016 A former Centrica chief executive is believed to be in pole position to snap up one of the largest operators in the North Sea. Sam Laidlaw’s investment vehicle, Neptune Oil & Gas, is in advanced talks to acquire Engie’s controlling stake in the $4bn-valued (£3.2bn) production arm. Engie, the French state utility formerly named GDF [...]
How does craft gin compete against big brands? “Create weird and wacky stuff,” says distiller December 9, 2016 Yesterday, gin stole the show as 2016's most profitable spirit as the sector passed a £1bn sales mark for the first time ever, six months ahead of schedule. Today, craft distiller Tom Warner, co-founder of Warner Edwards, gave City A.M. the low-down on the artisan industry. Warner Edwards was founded just over four years ago by [...]
Sadiq Khan hits out at Boris Johnson for “mess” left at Old Oak Common November 1, 2016 Sadiq Khan has given his full backing to the huge regeneration at Old Oak Common, but lashed out at his predecessor Boris Johnson for leaving the plans in "a mess". Laying out the findings of his review of the Old Oak and Park Royal Development Corporation (OPDC), the London Mayor criticised Boris Johnson for rushing the [...]
The government is seeking closer ties with business to battle cyber threat October 13, 2016 UK authorities are ramping up efforts to help British business fight the ever-growing threat of cybercrime. The government will seek greater engagement with chief executives and board level executives on cyber security to push it higher up the corporate agenda. The newly opened National Cyber Security Centre (NCSC) in London, part of multi-billion pound government plans to invest [...]
Tottenham and Uber stadium naming rights deal fails to get off the rank October 26, 2016 Tottenham are not currently in talks with Uber over a deal that would see the taxi app take naming rights to the club's new stadium. The Premier League club are currently holding talks with potential sponsors of the 61,000 capacity stadium but Spurs sources told City A.M. that, contrary to reports, there are no active negotiations [...]
City Moves for 7 December 2016 | Who’s switching jobs December 7, 2016 Lee Baron Lee Baron, a specialist in property management, has promoted Mark Fitzgerald to head of property management. Having joined the firm in 2015 as a director in the property management department, Mark takes the reins from Ian Jones, who after 10 years in the role, will now be concentrating on his position as chief [...]
Tax Uber more and cut black cab fares, think tank tells London mayor October 13, 2016 The Mayor of London has the power to make Uber pay more taxes and the city's iconic black cab drivers should reduce night time fares to compete, according to a new report calling for a major shake up of London's cab industry. A maximum working day of 12 hours should be imposed on Uber drivers and all black cab drivers [...]
City Giving Day: Community investment is a win-win for business and society September 27, 2016 UBS has operated a community investment programme in London for over 30 years. Never has it, and others like it, been more relevant. The relevance is driven by need; by the state of the UK and indeed of the world today; and by the now demonstrable proposition that companies undertaking such activity benefit both themselves [...]