Flash crash trader loses challenge against extradition to the US at the High Court October 14, 2016 Navinder Sarao, the trader accused by US authorities of contributing to a 2010 flash crash, cannot appeal a ruling that he must be extradited to the US to face charges carrying a maximum sentence of 380 years. At the High Court today, Lord Justice Gross said it was "clear" the court must turn down his application. [...]
How boutiques have snatched bankers and M&A business from the Wall Street giants January 9, 2017 With bonus season kicking off this week, one or two investment bankers at Wall Street heavyweights may well have cast an envious eye over the recent results of London boutique Robey Warshaw. The firm, which was founded in 2013 and has three former Wall Street bankers as its partners, reported profits of £36.6m for the year [...]
The New Day but not a new dawn for Mirror owner February 19, 2016 It may lack the attention-grabbing quality of “Bus Found on Moon” and other red-top headlines, but “Publisher Unveils National Tabloid” has a similar ring of implausibility. In a national newspaper market characterised by perpetually declining annual sales, Trinity Mirror’s launch of New Day looks like an adventurous bet on the willingness of a dwindling band of [...]
Inside Big Bang: The chaotic October morning that created the modern City October 26, 2016 Shortly before 8am, as Sir Nicholas Goodison surveyed the floor of the Exchange crowded with foreign television crews and curious journalists, he was a little apprehensive. After so much hype about the possibilities of what had been termed Big Bang, and difficult negotiations with Margaret Thatcher’s ministers, and efforts to persuade the more conservative elements [...]
The City must build on its relationship with China to remain the world’s financial centre September 5, 2016 Each week seems to bring another vision of how our post-Brexit relationship with Europe might look. Is the EEA an option? What has to be done in order to secure access to the Single Market? As lord mayor of London, it is my responsibility to work with the government and other key institutions to ensure [...]
Star fund manager Neil Woodford lambasts “frustratingly rife” short-termism in the City September 1, 2016 Legendary fund manager Neil Woodford has condemned “frustratingly rife” short-termism in the City, lending his support to a stinging criticism of executive pay levels and a failure of investors to hold management teams to account. The founder of Woodford Investment Management has bemoaned fund managers who “do not behave or think like owners, because they [...]
The City is mobilising itself for Brexit talks to safeguard the future of the capital September 22, 2016 One of the more memorable lines from the referendum campaign came courtesy of Leave campaigner Michael Gove. In front of a live audience, Faisal Islam of Sky News reeled off a list of experts who had made dire economic predictions regarding the implications of a vote to Leave. “The IMF, the IFS, the CBI… why [...]
Bayer’s share price jumps two per cent as shareholders react to news of “advanced” Monsanto talks September 6, 2016 Bayer’s share price jumped two per cent today after the company announced it was in “advanced” talks to acquire US seeds firm Monsanto. The German chemicals giant’s bid now stands $127.50 per share, or around $65bn (£49bn). This is an improvement on previous offers of $122 and $125, which have been rejected by Monsanto. But [...]
Why won’t Labour have lunch with Panmure Gordon? One City firm feels ignored by some MPs… December 21, 2015 While some Labour MPs have made contact with City big-wigs and the shadow cabinet’s diary fills up fast, one firm has felt more than a few cold shoulders from the left this year. Earlier this year we were keen to make sure new shadow City minister Richard Burgon felt welcome in his new role as Labour’s [...]
Brexit is a chance for London to renew itself once again as a great global city September 5, 2016 London is a phoenix-like city. It has reinvented itself time and again, rising from the Great Fire, the Plague and the Blitz. Compared to those, Brexit is a mild cold. The capital now needs to renew itself once again. It produces 22 per cent of the UK’s GDP and 30 per cent of its tax [...]