Brexit: BoE boss hits out at EU stance on equivalence for UK financial services January 6, 2021 Bank of England governor Andrew Bailey has slammed the EU for how it has handled decisions on the UK’s post-Brexit access to EU financial markets. Bailey told a Westminster committee today that Brussels’ demands to the UK Treasury on potential future regulatory decisions were “problematic”, before adding: “I fail to see why people would want [...]
City set for bare bones deal in crunch talks on financial services January 6, 2021 The UK is set for only a bare bones agreement in upcoming Brexit talks on the City of London’s future relationship with the EU, according to industry insiders close to the talks. Treasury minister John Glen is set to lead post-Brexit talks with the EU this week to strike a “memorandum of understanding” that will [...]
The three Cs driving WFH and their impact on global cities January 5, 2021 Investors in the office sector face a divergent picture due to the working from home (WFH) trend, says fund manager Tom Walker. Recent encouraging news regarding a Covid-19 vaccine means many of us are looking forward to resuming our “normal” lives. Getting out of the house will be top priority for many, particularly those of [...]
Before the Bell: Softer start expected amid tighter restrictions January 5, 2021 European stock markets closed higher yesterday as the sentiment was broadly bullish and the FTSE 100 gained the most ground by a long way. The UK market closed up 1.7 per cent, while the DAX 30 finished fractionally higher and CAC 40 posted a gain of almost 0.7 per cent. Yesterday marked the first day [...]
‘Stay home’: England in national Covid lockdown from tonight January 4, 2021 People living England have tonight been told to stay home for at least six weeks
UK mortgage approvals soar to highest level since before 2008 Global Financial Crisis January 4, 2021 UK home lending defied expectations of a slowdown in the housing market boom that started after the first Covid-19 lockdown
Brexit: UK to start talks on quick EU financial services agreement January 3, 2021 The UK government will next week begin urgent talks to try and reach an agreement by March on the future of the UK’s access to EU financial markets. City minister John Glen and senior Treasury civil servant Katharine Braddick will lead the talks for the UK. Boris Johnson’s Brexit trade deal does not include an EU-wide [...]
Jamie Oliver takes payday hit as restaurant collapse eats into profits January 3, 2021 Jamie Oliver has suffered a decline in profit from his business ventures as the collapse of his restaurant chain continues to take its toll. Pre-tax profits at the celebrity chef’s group of companies dropped to £7.1m in 2019, down nine per cent on the previous year. Turnover dropped just over five per cent to £38.8m, [...]
Sunday Talk: Mark Ridley, CEO of real estate giant Savills January 2, 2021 In a wide-ranging interview, City A.M. discusses fundraising challenges, Brexit and the shift to home working with Mark Ridley, who has been the group CEO of Savills since 2019, the London-based, LSE-listed real estate services giant which had a revenue of £1.93bn in 2019 and currently employs around 40,000 people in the UK and across Europe. The [...]
Where we are in terms of political risk in 2021 December 31, 2020 Happy New Year to City A.M. readers! Writing a regular newspaper column is a lot like dancing: it takes two to tango. Suffice it to say, while I’ve kept the flame alive these past enervating lockdown months via ceaseless articles detailing the bottomless gloom of 2020, I’m delighted that 2021 may generally bring more positive [...]